The Public Key Infrastructure (PKI) Market will generate US$ 3.9 Bn in global sales in 2021, predicts Future Market Insights' most recent analytical report on the market. From 2022 to 2032, the market is expected to increase at a rate of 18.3%, which is slightly slower than the average. With a CAGR of 18.7% from 2022 to 2032, Hardware Security Modules are anticipated to be the most profitable market segment.

It is impossible to exaggerate the value of PKI deployment for protecting enterprises in banking and financial services. Between the final three months of 2020 and the first three months of 2021, banking fraud attempts soared by roughly 160% as hackers tried to pass off their attack as legitimate internet activity. There is hence a larger need for protection provided by strengthened PKI. However, PKI must be correctly installed in order to reduce data leaks, outages, and compliance violations. Identity verification is essential in the insurance and financial services sectors. Building customer confidence and making sure that transactions are secure depend on the verification of digital identities.

On the other side, the quick development of new technologies, user behaviours, and digitization is drastically altering how banks interact with their clients and employees. This will always encourage modifications to identity management responsibilities. As a result, the role of financial institutions like banks in the identity supply chain is continually being reviewed.

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The necessity for traditional banking centres has been replaced by mobile banking apps, which have elevated banking to new heights. Without going to a branch, anyone with a smartphone and an internet connection may quickly check account balances, transfer money, and make payments. One can readily imagine banking becoming easier in the not-too-distant future thanks to the Internet of Things (IoT) and voice-enabled features. Our homes are already utilising this technology in the real world, with televisions, autos, and other devices becoming voice-friendly.

Key Takeaways from the Market Study

• Global Public Key Infrastructure (PKI) Market is expected to reach a market size of US$ 4.7 Bn by 2022.
• The Hardware Security Modules (HSM) segment, is expected to have the highest CAGR rate of 18.7% during the forecast period.
• United States to remain the most dominant market with absolute dollar growth opportunity of US$ 7.3 Bn during 2022 – 2032.
• The market in China is set to experience the highest CAGR of 18.1% during the 2022-2032 forecast period.

“During the projected period, the rising occurrences of malware attacks, spike in implementation of IoT and cloud trends are likely to assist in raising the Public Key Infrastructure (PKI) market revenue.” comments a Future Market Insights analyst.

Competitive Landscape

The market is fiercely competitive, where key players are increasingly focused to obtain a competitive advantage. The key companies in the Public Key Infrastructure (PKI) Market are focused on RD to produce innovative technological solutions.

• In February 2022, Thales extended its partnership with Google Cloud to enhance public confidence in the cloud. A stronger link enables organizations to use very sensitive data in Google Cloud Platform with confidence (GCP). Ubiquitous Data Encryption is enabled, which is a technology that integrates Google Cloud’s Confidential Computing with Thales’ CipherTrust Cloud Key Manager. Using the Thales CipherTrust Data Security Gateway, consumers may produce and control encryption keys for data transferred to Google Confidential Cloud Computing.
• In November 2021, PrimeKey has collaborated with the Microsoft Intelligent Security Association to combine their solutions in order to protect against a growing number of cyber threats. Enterprise Java Beans Certificate Authority, a customised corporate PKI and certificate management system, that interfaces with Microsoft Intune as a part of Microsoft Endpoint Manager.

Segments:

By Component:

• Public Key Infrastructure Hardware Security Modules (HSM)
• Public Key Infrastructure Solutions
• Public Key Infrastructure Services
• Professional Public Key Infrastructure Services
• Managed Services

By Deployment Mode:

• Cloud Based Public Key Infrastructure
• On Premises Public Key Infrastructure

By Organization Size:

• Small and Medium Enterprises
• Large Enterprises

By Vertical:

• BFSI
• Government and Defense
• IT and Telecom
• Retail
• Healthcare
• Manufacturing
• Other

By Region:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

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Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

3.2. Scenario Forecast

3.2.1. Demand in Optimistic Scenario

3.2.2. Demand in Likely Scenario

3.2.3. Demand in Conservative Scenario

3.3. Opportunity Map Analysis

3.4. Investment Feasibility Matrix

3.5. PESTLE and Porter’s Analysis

3.6. Regulatory Landscape

3.6.1. By Key Regions

3.6.2. By Key Countries

4. Global Public Key Infrastructure Market Analysis 2015-2021 and Forecast, 2022-2032

4.1. Historical Market Size Value (US$ Mn) Analysis, 2015-2021

4.2. Current and Future Market Size Value (US$ Mn) Projections, 2022-2032

4.2.1. Y-o-Y Growth Trend Analysis

4.2.2. Absolute $ Opportunity Analysis

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

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