Certificate Authority Market Projected to Gain $282 million byÂ 2028

(IT-NEWSWIRE.COM, August 11, 2023 ) According to a research report "Certificate Authority Market by Offering (Certificate Types, Services), SSL Certificate Validation Type ( Domain Validation, Organization Validation, Extended Validation), Organization Size, Vertical, and Region - Global Forecast to 2028" published by MarketsandMarkets, the global certificate authority market size is projected to grow from USD 167 million in 2023 to USD 282 million by 2028 at a Compound Annual Growth Rate (CAGR) of 11.0% during the forecast period. Rise in instances of HTTPS phishing attacks drives the growth of the certificate authority market. Moreover, lack of awareness among organizations about the importance of SSL certificates may hinder market growth.

Browse 367 market data Tables and 37 Figures spread through 273 Pages and in-depth TOC on "Certificate Authority Market - Global Forecast to 2028"

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Based on offerings, the services segment is expected to grow at higher CAGR during the forecasted period.

Certificate authority services are the support offered by vendors to assist their customers with the efficient use and operation of certificates. These services include support services, implementation and integration services, and managed PKI services. Moreover, these services offer guidelines on the use of certificates and help embed best practices in organizations. Services associated with certificate authorities contribute to enhanced user experience by providing secure and seamless digital interactions. SSL/TLS certificates, for example, display padlock icons or green address bars in web browsers, indicating a secure connection, which instills trust in users and encourages them to engage with online services.
Technological advancements, such as quantum computing and blockchain, present new challenges and opportunities in the field of digital security. Certificate authorities are evolving their services to address these emerging technologies, including developing quantum-resistant encryption algorithms and providing blockchain-based certificate management solutions.

By SSL certificate validation type, the domain validation segment to hold a larger market size during the forecast period

Domain validation offers organizations an economical, quick, and easy-to-implement option for securing their websites. Domain validated, and fully automated validation type enables users to start protecting their eCommerce, logins, webmail, blog visitors, and more within a few minutes. It is one of the fastest and most affordable ways to activate SSL protection for the website. Various industry standards and best practices, such as those set by the Payment Card Industry Data Security Standard (PCI DSS) or the General Data Protection Regulation (GDPR), require the use of SSL/TLS certificates for secure data transmission. In such cases domain validation certificates help organizations meet these compliance requirements in a cost-effective manner.

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By region, Asia Pacific is to grow at the highest CAGR during the forecast period.

Asia Pacific is the fastest-growing region in the certificate authority market, with promising growth opportunities in China, Japan, India, and other developing countries. The large enterprises and SMEs in the region realize the significance of data security and are receptive to adopting dedicated certificate authority solutions to protect their critical and sensitive business data from commercial espionage, cyber threats, and misuse of data for monetary gains.

Enhancements in the industries which handle critical data like government, BFSI and healthcare infrastructure have increased the demand for certificate authority solutions in this region. Due to the rise in internet users and the frequency of cyberattacks, several Asia Pacific nations are putting on large public awareness campaigns and programs on cybersecurity. Due to their capacity to increase online security, these initiatives are driving the need for identity certificates or digital signatures. As a result, the market for certificate authorities in the Asia Pacific region is expanding.

Sectigo (US), Digicert (US), GlobalSign (Belgium), GoDaddy (US), IdenTrust (US), Entrust (US), Certum (Poland), Actalis (Italy), Lets Encrypt (US), SSL.Com (US), E-Tugra (Turkey), WISekey (Switzerland), Trustwave (US), SwissSign (Switzerland), TWCA (China), Buypass (Norway), Camerfirma (Spain), Harica Greece), Certigna (France), NETLOCK (Hungary), TURKTRUST (Turkey), certSIGN (Romania), Disig (Slovakia), Network Solutions (US), OneSpan (US) are the key players and other players in the certificate authority market.

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Certificate Authority Market Projected to Gain $282 million byÂ 2028