Certificate Authority Market

According to Stratistics MRC, the Global Certificate Authority Market is accounted for $90.41 million in 2021 and is expected to reach $185.36 million by 2028 growing at a CAGR of 10.8% during the forecast period. Certification authority is an entity that issues digital certificates. Certificate authority is a third party trusted by the party relying on the certificate and the certificate owner. Digital certificates add encryption to ensure that the website is protected. Sensitive information like usernames, credit cards, passwords, and other private data sent over the internet are protected using digital certificates.



Market Dynamics:

Driver:

Rise in instances of HTTPS phishing attacks

Fraudulent HTTPS sites are a favorite gateway to this information for hackers who are savvy in how to easily provide a false sense of security. It is relatively simple for them to set up a fake HTTPS site with that trusted padlock in attacks that are often described as “low risk, high reward.”For instance Research from Deloitte found that 91% of all cyberattacks begin with a phishing email to un-expecting victims. They are typically lured to the sites via a link in an email sent from a legitimate address such as a reputable company or well-known person. Due to these reasons authority is maintained over the sites.

Restraint:

Running private certificate authorities 

Many organizations set up private certification authorities or use self-signed certificates to authenticate and secure internal servers, applications, and IP addresses that do not require public trust yet need the security provided by SSL encryption. Self-signed certificates can deliver the encryption as a certificate signed by a trusted authority.

Opportunity:

Usage of cloud-based services by businesses

The usage of cloud-based services by businesses is a key opportunity being observed in the certificate authority market. Owing to the several advantages of cloud computing, such as scalability, flexibility, and data security, numerous organizations are preferring to test workloads on the cloud, and many companies are adopting cloud computing in their operations. The cloud offers several models, which include infrastructure-as-a-service (IaaS), platform-as-a-service (PaaS), and software-as-a-service (SaaS). With the increasing utilization of SaaS cloud computing, several organizations are opting for SaaS certificate authorities, especially, as the applications of the mobile and cloud technologies evolve at a substantial rate, thus resulting in an amplified requirement for digital certificates.

Threat:

Lack of awareness among organizations

 Organizations across industry verticals do not use digital certificates for their websites due to their lack of awareness about the importance of secured websites. The vendors think they are not selling anything online; hence, they do not need security certificates. Digital certificates are encrypted and ensure that the contents of a message or an attachment have not been changed or tampered with during the transmission through the website.

The small- and medium-sized enterprises (SMEs) segment is expected to be the largest during the forecast period

These enterprises are increasingly adopting digital signatures to manage their authentication and security operations. Small- and medium-sized companies becoming more digital, which is why they require digital certificates in order to validate their authenticity and gain customers’ trust.

The banking, financial services, and insurance (BFSI) segment is expected to have the highest CAGR during the forecast period

Banks, credit unions, and other financial institutions are major targets for phishing attacks and other scams aimed at identity theft. With a rampant increase in phishing and social engineering incidents, the sector is increasingly focusing on online transaction security. Such factors are leading to the rising usage of secure sockets layer (SSL) certificates, thereby boosting the certificate authority industry. For instance, in July 2018, Deutsche Bank AG speeded up the account opening processes for its institutional and corporate clients, by introducing a digital signature. Digitizing document signing and account opening notably reduced processing times and costs.

Region with largest share:

Asia Pacific is projected to hold the largest market share due to the increasing number of online businesses, rapid digital transformation, and surging adoption of the internet of things (IoT). Chinese mobile operators are the foremost companies across the world in the integration of transformative IoT solutions. Public key infrastructure (PKI) certificates help companies achieve this, as digital certificates represent identity in a cross-platform, cross-organizational way. This, in turn, is propelling the growth of the certificate authority market in the region.

Region with highest CAGR:

North America is projected to have the highest CAGR due to the presence of a huge number of digital certificate providers and rigorous data security regulations and compliance standards. The prominent presence of digital certificate providers such as GoDaddy Inc., IdenTrust, and Sectigo Limited and major browser makers such as Apple and Google for digital certificates and public key Infrastructure, are some of the factors expected to drive growth of the market in countries in the region.



Key players in the market:

Some of the key players profiled in the Certificate Authority Market include DigiCert, GlobalSign, OneSpan, Sectigo, Let's Encrypt, SwissSign, Network Solutions, Actalis, GoDaddy, Entrust Datacard Corporation, Trustwave Holdings Inc., WISeKey International Holding AG and IdenTrust Inc.

Key developments:

In September 2021: Sectigo partnered with Thomas Peer, an IT services and management consulting firm, through this new partnership, Sectigo's digital identity and automated certificate lifecycle management solution, Sectigo Certificate Manager, will be available in the suite of solutions Thomas Peer offers its clients.

In April 2021: DigiCert introduced DigiCert Automation Manager, a containerized enterprise solution for on-premises, high-volume TLS certificate automation. DigiCert Automation Manager is built on a cloud-native architecture.

In November 2021: GlobalSign partnered with HashiCorp. As part of this partnership, DevOps users of HashiCorp Vault now have access to GlobalSign's Public Key Infrastructure (PKI) platform, Atlas, via the Atlas Vault plug-in. This would enable HashiCorp Vault users to securely request a variety of certificates from the Atlas environment.

In February 2020: Entrust Datacard Corporation launched the nShield issuance hardware security module (HSM). The module has been designed to allow for the simplicity, security, and serviceability of the payment card system of the company, along with securing issuance environments.

Components Covered:
• Certificate Types
• Services

Organization Sizes Covered:
• Small and Medium-Sized Enterprises (SMEs)
• Large Enterprises

End Users Covered:
• Retail and Consumer Goods
• Banking, Financial Services, and Insurance (BFSI)
• Education
• Travel & Hospitality
• Government
• Energy and Utilities
• Healthcare & Life Sciences
• Information Technology (IT) and Telecommunications
• eCommerce
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances