Public Key Infrastructure Market Revenue to Cross USD 7B by 2027: Global Market Insights Inc.

SELBYVILLE, Del., April 15, 2021 (Newswire.com) - According to latest the report "Public Key Infrastructure (PKI) Market by Component (Solution, Service), Deployment Model (On-premise, Cloud), Organization Size (Large Enterprises, SMEs), Application (BFSI, IT & Telecom, Retail, Healthcare, Manufacturing, Education, Government & Defense), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027", by Global Market Insights Inc., the market valuation of public key infrastructure will cross $7 billion by 2027. Rising digital interaction and reliance on digital authentications & regulatory compliance across enterprises are expected to boost the market growth.

The demand for PKI solutions & services is primarily driven by the increasing need across enterprises to improve security capabilities in response to the growing instances of file-based attacks and malware. The PKI consists of software policies, roles, and a procedure that is used to create, manage & distribute digital certificates, and certify cryptography owned by the user. PKI used encryption algorithms help companies to secure communications and ensure the privacy of data sent from one computer to another.

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The managed service segment in the public key infrastructure market is anticipated to witness a 20% growth rate till 2027. Managed PKI services are hosted in a redundant infrastructure, featuring robust data backup and intelligent monitoring capabilities. A service provider manages the complexity of enterprise PKI solutions and offers extensive security. A managed PKI service automates the configuration of the encryption and signing applications including multiple browsers & platforms. It also verifies the integrity & origination of sensitive documents and emails from all devices.

The public key infrastructure market for cloud deployment segment is estimated to hold a significant revenue share during the forecast period. The cloud-based PKI system significantly reduces infrastructure investments, resources, and time of individual organizations by eliminating the need for organizations to invest in infrastructure deployment. PKI service providers help enterprises by controlling the maintenance of all ongoing operations while maintaining the availability & scalability of the service with hassle-free and efficient service.

The large enterprises segment will account for over 50% of the public key infrastructure market share by 2027 due to consistent and reliable services offered by PKI service providers with low operational cost and global reach. Large enterprises are geographically dispersed and invest heavily in the latest technologies to increase their overall business productivity and efficiency. The expansive demand from established enterprises to eliminate cyber risks and ensure secure data transfer processes is poised to spur the market expansion.

The public key infrastructure market for the retail segment is projected to showcase exponential growth during the forecast period. The Internet and smartphone penetration have created a trend for online shopping. In response, the industry is reporting an expansive number of digital payments and financial transactions. Retailers need authentication and encryption services to secure their transactions and network infrastructure. The enterprise-wide need to process sensitive customer information, including financial data, is slated to foster the demand for PKI solutions & services across the retail sector.

Europe's public key infrastructure market is expected to reach USD 1.5 billion by 2027 on account of increasing demand for encryption technologies from enterprises to secure cloud-based attacks on digital enterprise resources. The presence of several PKI vendors and the growing implementation of PKI solutions to detect & prevent threats at their early stages are set to impel the market value in the region.

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Major companies operating in the PKI market are ACTALIS S.p.A., Entrust Corporation, Gemalto (Thales Group), Nexus Secured Business Solutions AB, and WISEKEY International Group. These industry leaders are focusing on the development of innovative solutions.

Table of Contents (ToC) of the report:

Chapter 3.   Public Key Infrastructure (PKI) Market Insights

3.1.  Introduction

3.2.  Industry segmentation

3.3.  Impact of COVID-19 outbreak

3.4.  Technological evolution

3.5.  Industry ecosystem analysis

3.6.  PKI architecture

3.7.  Technology & innovation landscape

3.7.1. PKI-as-a-Service

3.7.2. Container based PKI

3.7.3. Quantum cryptography

3.8.  Regulatory landscape

3.9.  Industry impact forces

3.9.1. Growth drivers

3.9.2. Industry pitfalls & challenges

3.10.    Porter's analysis

3.11.    PESTEL analysis

3.12.    Growth potential analysis

Browse Complete Table of Contents (ToC) at

https://www.gminsights.com/toc/detail/public-key-infrastructure-pki-market

About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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Source: Global Market Insights Inc.