Information Technology
Public Key Infrastructure Market Set for $14.9 Billion Surge as Cryptoagility and Device Identity Needs Accelerate
While North America is forecast to continue leading in PKI revenue, rapid digitalization in the Asia-Pacific will expedite PKI market growth and close the regional gap. Regional idiosyncrasies continue to drive differences in PKI revenue trends, accentuating the need for vendors to develop vertical- and region-specific PKI strategies and rollout plans. In particular, data residency and sovereignty regimes are expected to bolster demand for hardware-based offerings in Europe , while Latin America presents strong revenue opportunities for national and government PKI solutions, specifically in the realm of digital and electronic identification.
Growing reliance on IoT and other connected devices on a global scale positions device security and authentication for the most dynamic growth across PKI application segments, while enterprise and web PKI are set for steady growth as the decade wraps up.
"Rising appetite for investment in solutions that support increased cryptoagility, such as PKI, will only persist as the threat of quantum computing advances," said Dawson. "While acknowledging the significant influence of external stimuli such as the threat of quantum computing is key to understanding and capitalizing on the rapidly growing PKI market, cognizance of internal influences on the PKI ecosystem remains acutely important. This includes the growing convergence between PKI and certificate lifecycle management (CLM) offerings as the impact of the CA/B Forum's certificate lifecycle changes continue to reverberate across the PKI ecosystem. Ongoing market diversification means pluggability, flexibility, and interoperability must be center stage in vendors' PKI services and solutions."
These findings are from ABI Research's Public Key Infrastructure Market Data report. This report is part of the company's Quantum Safe Technologies research service, which includes research, data, and ABI Insights.
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