According to a new market research report "Certificate Authority Market by Certificate Type (SSL, Secure Email, Code Signing, and Authentication Certificates), Service, SSL Certificate Validation Type, Organization Size, Industry Vertical, and Region - Global Forecast to 2023", published by MarketsandMarkets™, the global market size is expected to grow from USD 76.2 million in 2018 to USD 123.8 million by 2023, at a Compound Annual Growth Rate (CAGR) of 10.2% during the forecast period. A major growth driver for the market is companies' increasing need to build trust among the rapidly expanding online customer base.
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SSL Certificates segment to hold the largest market size during the forecast period
SSL certificates validate the server to the client, which help the client authenticate the website. The SSL certificates' major features are encryption, integrity, authentication, and non-repudiation. The encryption technology provides private and public keys of the server's digital certificate, which protects the data transferred over web browsers. With the integrity feature, the data is protected from getting modified during the transmission. Moreover, the encryption, integrity, and authentication collaboratively establish non-repudiation for data transferred over web browsers, which prevents both parties from cyber risks. These features of SSL certificates are encouraging organizations to deploy SSL certificates.
Managed Public Key Infrastructure (PKI) services segment to hold the largest market size during the forecast period
The PKI technology offers organizations the way to control many digital certificates for SSL, authentication, document signing, and other usages of digital signatures. A managed PKI service provides access to digital certificates without the need to buy, establish, operate, and protect an in-house certificate authority. Using the managed PKI service, organizations can issue, renew, and revoke digital certificates to power strong authentication, encryption, and digital signing applications. Additionally, it helps secure user access and communications for network and cloud-based applications without increasing IT burden.
Banking, Financial services and Insurance (BFSI) industry vertical to hold the largest market size during the forecast period
BFSI organizations focus on privacy and security of customer's online transactions and their sensitive information. Hence, there is the high adoption of the digital certificates in the BFSI vertical. Digital certificates act as a bridge between the browser and server and are embedded with an encryption technology, which protects the ongoing communication. With the digital certificate, the user's information is transmitted through a secured channel in an encrypted form, and no other person or system can tamper or view it.
North America to hold the largest market size during the forecast period
In the Certificate Authority Market by region, North America is expected to hold the largest market size during the forecast period. Major growth drivers for the market in North America include the large presence of digital certificate providers and stringent data security regulations and compliance. The US and Canada are significantly advanced in terms of cyber security technology and they are most vulnerable to cyber threats in the world.
Major vendors covered in the Certificate Authority Market include IdenTrust (US), Comodo CA (US), DigiCert (US), GoDaddy (US), GlobalSign (US), Asseco Data Systems (Poland), ACTALIS (Italy), Entrust Datacard (US), Trustwave (US), SSL.com (US), Network Solutions (US), TWCA (China), SwissSign (Switzerland), WISeKey (Switzerland), OneSpan (US), Buypass (Norway), Camerfirma (Spain), Hongkong Post (Hong Kong), EBG Information Technologies and Services (Turkey), Harica (Greece), Certigna (France), NETLOCK (Hungary), TURKTRUST (Turkey), certSIGN (Romania), and Disig (Slovakia).
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