Certificate Authority Market is projected to grow USD 282 million by 2028 – WhaTech

The study categorizes the certificate authority market by offering, SSL certification validation type, organization size, verticals, and regions.

The global Certificate Authority Market^[1] 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, according to new research report by MarketsandMarkets™

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.

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367 – Tables
37 – Figures
273 – Pages

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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.

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.

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Key Market Players

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.

Regional Analysis for Certificate Authority Market

• North America: The United States and Canada, in particular, frequently set the pace for technological innovation and adoption throughout North America. Because online transactions, e-commerce, and cloud services are so common in this area, it is likely that the CA industry is well-established with a focus on cybersecurity. Major financial institutions and IT giants nearby may result in a considerable increase in demand for CA services.
• Europe: The technological landscape is advanced in European nations as well. Data security and privacy are now more important than ever thanks to the General Data Protection Regulation (GDPR), which has increased demand for CA services. The vast spectrum of industries in Europe, including finance, healthcare, and manufacturing, all strongly rely on safe internet communication.
• Asia-Pacific: Increased internet penetration and quick technological advancement have been observed in the Asia-Pacific area. E-commerce is booming in nations like China, Japan, South Korea, and India, and there are more and more people using the internet. Demand for CA services is projected to increase as more organisations go online and need secure digital transactions and communication.
• Latin America: Latin America is catching up in terms of technology usage, but not being as far along as some other regions. With the growth of e-commerce and online banking, there is an increased need for safe online transactions. Furthermore boosting the CA business, regional governments may enact laws requiring high levels of online security.
• Middle East and Africa: The CA market in this region may be influenced by elements like the expansion of online services, escalating digitalization initiatives, and growing cybersecurity awareness. The Middle East’s governments and businesses are making investments in digital transformation, which includes using digital certificates to secure online communications.

Factors that Drive Certificate Authority Market

• Cybersecurity Concerns: Cybersecurity is becoming a significant priority for both businesses and individuals due to the increasing risk of cyberattacks and data breaches. In order to build trust and encrypt online interactions and protect sensitive data from unauthorised access, CAs are essential.
• Secure Online Transactions: The importance of secure online transactions increases as e-commerce expands. Digital certificates are provided by CAs, giving users the confidence to disclose their payment and personal information online and ensuring the legitimacy of websites.
• Regulatory Compliance: Strong internet security requirements are mandated by regulatory frameworks that apply to many sectors. For instance, the adoption of CA services is sparked by the General Data Protection Regulation (GDPR) in Europe and the Health Insurance Portability and Accountability Act (HIPAA) in the US healthcare industry, both of which mandate organisations safeguard data and communications.
• Digital Transformation: Businesses are undergoing a digital revolution by utilising cloud services and putting their activities online. Strong cybersecurity measures are required as a result of this transformation, and CAs offer the capabilities for encryption and authentication that are required to secure these digital transactions.
• Mobile and IoT Growth: There is a rising requirement for protecting communications between devices and applications due to the development of mobile devices and the Internet of Things (IoT). In order to guarantee that the transmitted data is secure and secret, CAs issue certificates for these devices.

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