The global certificate authority market size was valued at USD 135.3 million in 2021 and is poised to grow at a significant CAGR of 13.5% during the forecast period from 2022 to 2028. The Certificate Authority (CA) market refers to the market for companies that provide digital certificates and related services, such as validation and verification, to secure online communications and transactions. A digital certificate is a digital document that confirms the identity of an organization or individual, and is used to secure online transactions, such as e-commerce transactions, online banking, email communications, and other online interactions.
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Certificate Authority Market Growth Factors:
The Certificate Authority (CA) market is primarily driven by the increasing demand for online security and the growing adoption of digital certificates to secure online transactions and communication.
Some of the growth factors that are driving the CA market are:
The rise in e-commerce transactions, online banking, and other online transactions has created a need for secure online communication and transactions. Digital certificates provided by CAs offer a secure way to establish the identity of the parties involved in an online transaction, thus boosting the demand for CA services.
Regulations and compliance requirements such as GDPR, HIPAA, and PCI DSS, require organizations to secure their online communication and transactions. This has led to an increased adoption of digital certificates provided by CAs to meet regulatory compliance.
The rise in cyber-attacks and data breaches has created a need for stronger online security. Digital certificates provided by CAs offer a secure way to protect online communication and transactions from unauthorized access, thus reducing the risk of cyber-attacks.
The growing adoption of IoT devices has led to an increased need for secure communication among these devices. Digital certificates provided by CAs offer a secure way to establish the identity of IoT devices and secure their communication, thus boosting the demand for CA services.
Increasing use of cloud-based services: The growing adoption of cloud-based services has created a need for secure communication and transactions between cloud-based applications and services. Digital certificates provided by CAs offer a secure way to establish the identity of cloud-based applications and services, thus boosting the demand for CA services.
The global certificate authority market segmentation:
1) By Component: Certificate Types, Services.
2) Certificate Type: SSL Certificates, Secure Email Certificates, Code Signing Certificates, Authentication Certificates.
3) Service: Support Services, Implementation and Integration Services, Managed PKI Services.
4) Organization size: Large Enterprises, SMEs.
5) End User: BFSI, Retail and eCommerce, Government and Defense, Healthcare and Life Sciences, IT and Telecom, Travel and Hospitality, Education, Other End Users.
Certificate Authority Market Regional Analysis:
North America holds the largest share in the certificate authority market, driven by significant investments and developments, high adoption rates of advanced technology, and a stringent regulatory environment. The regions of Europe and the United States have already implemented strict security measures, while the Australian government is expected to follow suit with the Essential Eight Maturity Model. To bolster security measures, experts recommend implementing standards such as the National Institute of Standards and Technology (NIST) and ISO 27001, along with certificate authority management and public key infrastructure (PKI). Due to its susceptibility to cyberattacks, particularly identity theft, North America boasts the largest number of certificate authority suppliers in the industry.
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Key players in the certificate authority market IdenTrust (US), DigiCert (US), Sectigo (US), GlobalSign (Belgium), Entrust (US), GoDaddy (US), Certum (Poland), Actalis (Italy), Let’s Encrypt (US), SSL.com (US), E-Tugra (Turkey), WISeKey (Switzerland), Trustwave (US)
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