Public Key Infrastructure Market: Overview and Strategic Insights (2020-2030)

According to our latest study on “Public Key Infrastructure Market Forecast to 2030 – Global and Regional Share, Trends, and Growth Opportunity Analysis – by Component, Deployment, Enterprise Size, and End User,” the public key infrastructure market?size was valued at US$ 3,268.10 million in 2022 and is expected to reach US$ 11,553.84 million by 2030; it is estimated to record a CAGR of 17.1% from 2022 to 2030.

A public key infrastructure is a technology that consists of a specific set of policies and procedures utilized for managing, distributing, storing, and revoking digital certificates and managing public-key encryption. Public key infrastructure technology was created to exchange information over an increasingly insecure Internet. It uses a public key and a private key to achieve security and offers several benefits, such as assurance of the quality of data sent and received electronically, assurance of the source and destination of that data, and assurance of the privacy of that data. Public key infrastructure can be used to provide cryptographic keys between users securely and to enable other cryptographically delivered security services. The technology tends to link public keys with various respective entities that have unique identities, referred to as subscribers, and is also used for supporting digital signatures and document encryption for a business. It has become the platform or the infrastructure upon which asymmetric and symmetric encryption scheme services are provided to its subscribers and is therefore required in situations where more rigorous proof is essential to check the identity of the parties communicating and to authenticate the information being transferred.

Public key infrastructure is considered relatively more secure than passwords and is greatly scalable because unlimited users can be supported. It provides stronger identity checking through secret private keys, considering malicious users or attackers require both the private key and the matching passphrase to fake as a legitimate user. Public key infrastructure permits trust delegation and thus wards off man-in-the-middle (MitM) attacks. Delegation is possible once a user with a legitimate certificate from a recognized and trusted certificate authority (CA) is able to authenticate themselves to a server the very first time. The connection to the server is possible even without having prior registration in the system. This allows public key infrastructure to enable a trustworthy setting by validating and warranting the integrity of data and users. The keys within public key infrastructure established systems can be utilized for one-way encryption functions, allowing only the designated owner of the key to decrypt data. Public key infrastructure also offers the benefit of private keys, which are challenging to crack together with the corresponding public key. It allows for non-repudiation by detecting tampering and thus enables added service offerings such as banking, healthcare, e-commerce, law, and intelligence through the use of digital signatures and digital certificates. The seamless, ease, and non-interactive features are key strengths of public key infrastructure.

The leading companies in the market are DigiCert Inc., Fortinet Inc, GlobalSign Ltd, Sectigo Ltd, and Thales SA. The above listing of key players is derived by considering multiple factors such as overall revenue, current well completion equipment and services portfolio, new product launches, market initiatives, investment in technology up-gradation, mergers & acquisitions, and other joint activities.

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