Global Certificate Authority market value expected to reach USD 442.2 million by 2032 with 11.4% CAGR
From GlobeNewswire: 2024-11-26 09:00:00
The global Certificate Authority (CA) market was valued at USD 167.7 million in 2023 and is projected to reach USD 442.2 million by 2032, with a CAGR of 11.4% from 2024 to 2032. The market is driven by the need for data security in digital transactions, especially with the rise of e-commerce and online banking.
Factors like increasing cyber-attacks and data breaches have led organizations to invest more in security systems, including digital certificates. SSL certificates for website security and e-signatures for electronic documents are seeing a rise in adoption. The integration of blockchain technology for identity verification is also gaining traction, as businesses seek decentralized and tamper-proof methods.
Major players in the Certificate Authority market include DigiCert, GlobalSign, Entrust, Comodo CA, Symantec, GoDaddy, Sectigo, Let’s Encrypt, Trustwave, and Amazon Web Services (AWS). These companies offer a range of SSL certificates, PKI services, and security solutions to help businesses maintain effective security infrastructures.
The market size of the Certificate Authority industry is expected to grow from USD 167.7 million in 2023 to USD 442.2 million by 2032, with a CAGR of 11.4% from 2024 to 2032. Key drivers include the increasing incidents of data breaches and cyber-attacks, the growth of IoT devices, and the reliance on cloud computing and SaaS platforms for secure transactions and data protection.
In 2023, the Certificate type segment dominated the market, with SSL/TLS certificates, code signing certificates, and digital signatures being crucial for securing online communications and validating organizations. SSL certificates are essential for establishing secure connections between websites and users, while digital signature certificates are growing due to remote work and digitization of documents.
The BFSI sector accounted for the largest revenue share in 2023, contributing around 20% to the market. With the rise of online banking and mobile payments, the sector requires robust cybersecurity solutions to secure financial transactions and sensitive data. Certificate Authorities play a vital role in ensuring the secure exchange of financial information and reducing the risk of cyber threats and identity theft. The adoption of SSL certificates and digital certificates for identity verification is essential for securing online transactions and protecting customers and financial institutions. North America leads the Certificate Authority market, with advanced technology infrastructure and high adoption rates. Europe and Asia-Pacific also show significant growth potential, driven by cybersecurity regulations and increasing digitization. Recent developments include new certificate management tools and partnerships in the financial sector. SNS Insider offers consulting services for market assessment and competitive benchmarking.
Read more at GlobeNewswire: Certificate Authority Market Projected to Reach USD 442.2