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Public Key Infrastructure Market To Reach $14.49 Bn By 2030 With 26.5% CAGR
(MENAFN- EIN Presswire) EINPresswire/ -- According to a new report published by Allied Market Research Public Key Infrastructure Market By Component (Hardware Module, Solution, and Services), Deployment Mode (On-premise and Cloud), Organization Size (Large Enterprise and Small & Medium Enterprise), and Vertical (BFSI, Government and Defense, IT and Telecom, Retail, Healthcare, Manufacturing, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030, The global public key infrastructure market size was valued at USD 1.4 billion in 2020 and is projected to reach USD 14.49 billion by 2030, registering a CAGR of 26.5% from 2021 to 2030.
The Public Key Infrastructure (PKI) market is witnessing robust growth as organizations increasingly prioritize secure digital communication and identity authentication. With the rapid shift toward cloud-first models, remote work ecosystems, and digital workflows, PKI has become essential for ensuring trust, privacy, and data integrity across networks and devices. The rise of digital certificates for websites, applications, IoT devices, and enterprise systems continues to fuel widespread adoption.
Furthermore, industries such as BFSI, healthcare, government, telecom, and e-commerce are deploying PKI to safeguard sensitive data, protect customer identities, and meet global compliance standards. As cyberattacks grow more sophisticated, PKI serves as a foundational layer of modern cybersecurity frameworks, enabling encryption, digital signatures, and secure access control across critical infrastructure.
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Market Dynamics
The primary driver of PKI market expansion is the increasing frequency and complexity of cyber threats targeting digital identities and encrypted channels. Organizations are turning to PKI solutions to mitigate risks and ensure end-to-end security.
Another major factor accelerating growth is the rapid adoption of cloud and hybrid IT environments. Cloud-based PKI platforms offer scalability, automation, and centralized certificate management, making them ideal for modern enterprises with distributed systems.
The explosion of IoT devices is creating massive demand for certificate-based authentication. PKI ensures secure communication between connected devices, preventing identity spoofing and unauthorized access.
Regulatory compliance frameworks such as GDPR, HIPAA, eIDAS, and industry-specific cybersecurity acts are also pushing enterprises to deploy PKI solutions for secure digital identity management and encrypted transactions.
However, challenges such as certificate lifecycle complexity, lack of skilled professionals, and integration issues with legacy systems may slow the market's full potential. Vendors are responding with automated, cloud-native PKI solutions to reduce operational burden.
Buy Now & Get Exclusive Discount on this Report (300 Pages PDF with Insights, Charts, Tables, and Figures) at:
Segment Overview
The PKI market is segmented by component (solutions and services), deployment mode (on-premises, cloud), organization size (large enterprises, SMEs), and industry verticals including BFSI, government, healthcare, IT & telecom, retail, manufacturing, and energy. Cloud-based PKI solutions are expected to grow fastest due to cost efficiency, flexibility, and easy scalability.
The services segment is expected to be the fastest-growing category, driven by the increasing need to deploy, operate, and maintain PKI systems across enterprises. PKI-related services are broadly divided into professional services and managed services, both of which play a vital role in ensuring seamless and secure functioning of PKI solutions. As organizations rely more heavily on digital identities and encryption, service offerings have become essential for effective implementation, lifecycle management, and optimization. Consequently, vendors are focusing on delivering specialized, high-value services that help businesses streamline operations and strengthen their security posture.
Regional Analysis
North America and Europe lead the digital commerce market due to advanced digital infrastructure, high consumer spending, and strong adoption of emerging technologies such as AI, cloud, and predictive analytics. Mature e-commerce ecosystems and robust logistics networks further support market expansion in these regions.
Asia-Pacific is experiencing the fastest growth, driven by massive smartphone adoption, rising disposable incomes, and government initiatives promoting digital payments and e-commerce. Countries like China, India, and Indonesia are emerging as global hubs of digital commerce innovation, with strong competition among local and global players.
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Competitive Analysis
The key PKI industry players profiled in the report are Thales, Entrust Datacard, Digicert, Manageengine, Microsoft, Hid Global, Google, Amazon Web Services, Appviewx, and Venafi. This study includes market trends, public key infrastructure analysis, and future estimations to determine the imminent investment pockets.
Key Findings of the Study
.By component, in 2020, the solution segment is estimated to be the major shareholder. However, the services segment is expected to witness highest growth rate during the forecast period.
.On the basis of deployment, the on-premise segment accounted for the highest revenue in 2020; however, the cloud segment is expected to witness highest growth rate during the forecast period.
.On the basis of organization size, the large enterprise segment accounted for the highest revenue in 2020; however, the SME segment is expected to witness highest growth rate during the forecast period
.On the basis of vertical, the IT and telecom segment accounted for the highest revenue in 2020; however, the healthcare segment is expected to witness highest growth rate during the forecast period.
.Region-wise, the public key infrastructure market was dominated by North America in 2020. However, Asia-Pacific is expected to witness significant growth in the coming years.
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The Public Key Infrastructure (PKI) market is witnessing robust growth as organizations increasingly prioritize secure digital communication and identity authentication. With the rapid shift toward cloud-first models, remote work ecosystems, and digital workflows, PKI has become essential for ensuring trust, privacy, and data integrity across networks and devices. The rise of digital certificates for websites, applications, IoT devices, and enterprise systems continues to fuel widespread adoption.
Furthermore, industries such as BFSI, healthcare, government, telecom, and e-commerce are deploying PKI to safeguard sensitive data, protect customer identities, and meet global compliance standards. As cyberattacks grow more sophisticated, PKI serves as a foundational layer of modern cybersecurity frameworks, enabling encryption, digital signatures, and secure access control across critical infrastructure.
Download Free PDF Brochure:
Market Dynamics
The primary driver of PKI market expansion is the increasing frequency and complexity of cyber threats targeting digital identities and encrypted channels. Organizations are turning to PKI solutions to mitigate risks and ensure end-to-end security.
Another major factor accelerating growth is the rapid adoption of cloud and hybrid IT environments. Cloud-based PKI platforms offer scalability, automation, and centralized certificate management, making them ideal for modern enterprises with distributed systems.
The explosion of IoT devices is creating massive demand for certificate-based authentication. PKI ensures secure communication between connected devices, preventing identity spoofing and unauthorized access.
Regulatory compliance frameworks such as GDPR, HIPAA, eIDAS, and industry-specific cybersecurity acts are also pushing enterprises to deploy PKI solutions for secure digital identity management and encrypted transactions.
However, challenges such as certificate lifecycle complexity, lack of skilled professionals, and integration issues with legacy systems may slow the market's full potential. Vendors are responding with automated, cloud-native PKI solutions to reduce operational burden.
Buy Now & Get Exclusive Discount on this Report (300 Pages PDF with Insights, Charts, Tables, and Figures) at:
Segment Overview
The PKI market is segmented by component (solutions and services), deployment mode (on-premises, cloud), organization size (large enterprises, SMEs), and industry verticals including BFSI, government, healthcare, IT & telecom, retail, manufacturing, and energy. Cloud-based PKI solutions are expected to grow fastest due to cost efficiency, flexibility, and easy scalability.
The services segment is expected to be the fastest-growing category, driven by the increasing need to deploy, operate, and maintain PKI systems across enterprises. PKI-related services are broadly divided into professional services and managed services, both of which play a vital role in ensuring seamless and secure functioning of PKI solutions. As organizations rely more heavily on digital identities and encryption, service offerings have become essential for effective implementation, lifecycle management, and optimization. Consequently, vendors are focusing on delivering specialized, high-value services that help businesses streamline operations and strengthen their security posture.
Regional Analysis
North America and Europe lead the digital commerce market due to advanced digital infrastructure, high consumer spending, and strong adoption of emerging technologies such as AI, cloud, and predictive analytics. Mature e-commerce ecosystems and robust logistics networks further support market expansion in these regions.
Asia-Pacific is experiencing the fastest growth, driven by massive smartphone adoption, rising disposable incomes, and government initiatives promoting digital payments and e-commerce. Countries like China, India, and Indonesia are emerging as global hubs of digital commerce innovation, with strong competition among local and global players.
Get Expert Guidance - Connect with an Analyst:
Competitive Analysis
The key PKI industry players profiled in the report are Thales, Entrust Datacard, Digicert, Manageengine, Microsoft, Hid Global, Google, Amazon Web Services, Appviewx, and Venafi. This study includes market trends, public key infrastructure analysis, and future estimations to determine the imminent investment pockets.
Key Findings of the Study
.By component, in 2020, the solution segment is estimated to be the major shareholder. However, the services segment is expected to witness highest growth rate during the forecast period.
.On the basis of deployment, the on-premise segment accounted for the highest revenue in 2020; however, the cloud segment is expected to witness highest growth rate during the forecast period.
.On the basis of organization size, the large enterprise segment accounted for the highest revenue in 2020; however, the SME segment is expected to witness highest growth rate during the forecast period
.On the basis of vertical, the IT and telecom segment accounted for the highest revenue in 2020; however, the healthcare segment is expected to witness highest growth rate during the forecast period.
.Region-wise, the public key infrastructure market was dominated by North America in 2020. However, Asia-Pacific is expected to witness significant growth in the coming years.
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