According to the new research report on " Public Key Infrastructure Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis – by Component, Deployment, Enterprise Size, and End User," published by The Insight Partners, the market is expected to reach US$ 11,553.84 million by 2030 and register a CAGR of 17.1% from 2022 to 2030. 

The European public key infrastructure market is segmented into Germany, France, Italy, UK, Russia, and the Rest of Europe. The rising demand for information security solutions is broadly acknowledged in Europe. According to the AAG IT Services, in 2022, 39% of UK businesses experienced a cyberattack. This cybercrime cost UK businesses an average of ~US$ 5,064.44 in 2021. The most common cyber threat faced by these businesses is phishing (83% of identified attacks). Similarly, in 2022, 72.6% of German organizations suffered at least one cyberattack. To address these cyber-attack challenges, the region is adopting security solutions and focusing on the implementation of advanced technology, such as public key infrastructure. Technology is opening whole new opportunities, with new solutions and services which are becoming integral parts of daily lives. Hence, the region is focusing on accelerating the efforts to strengthen cybersecurity.

Many well-known public key infrastructure solutions providers are present in Europe and are focusing on offering efficient public key infrastructure solutions to their customers. The larger firms are adopting the strategy of acquiring and collaborating with various companies to enhance their capabilities and expand their footprint in Europe. This type of strategy allows companies to strengthen their footprint in the European market and also their brand name. For instance, in January 2019, DigiCert, Inc., a provider of public key infrastructure solutions, acquired QuoVadis Group, a Swiss-based cybersecurity and IoT Company. DigiCert, Inc. would operate the QuoVadis group as an EU and Swiss trust service provider as well as enterprise-managed public key infrastructure services. The acquisition would enable DigiCert, Inc. to provide robust public key infrastructure-based solutions in Europe. Furthermore, companies are spending in the public key infrastructure market to increase the overall productivity. This allows public key infrastructure solution and service providers to focus on their core capabilities and give their full potential on developing the advanced solution, fueling the public key infrastructure market growth in the region.

The public key infrastructure market is categorized on the basis of component, enterprise size, deployment mode, and end-user. Based on component, the public key infrastructure market is bifurcated into solutions and services. The services segment is further bifurcated into professional services and managed services. Based on deployment mode, the market is bifurcated into on-premise and cloud. Based on enterprise size, the market is bifurcated into small and medium enterprises (SMEs) and large enterprises. In terms of end-user, the market is segmented into BFSI, retail & e-commerce, government & defense, IT & telecom, manufacturing & automotive, and others. By geography, the public key infrastructure market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).

Public Key Infrastructure Market Key Findings:

North America held the largest share of the public key infrastructure market in 2022 and is anticipated to continue its dominance during the forecast period. The US and Canada are prominent nations in the region, which is known for the fast adoption of various technology. The rising adoption of Factory 4.0 is leading to a rise in data generation and usage of connected devices. It is also leading to wider adoption of public key infrastructure technology for security in such applications. Additionally, public key infrastructure is commonly utilized for transport layer security (TLS) /secure socket layer (SSL), which secures encrypted hypertext transfer protocol (HTTP) communications. The certificate, once verified by the Certificate Authority (CA), is installed on the web server as proof of the website’s authenticity. The US boasts of the largest number of SSL certificates on the globe and is constantly increasing due to the launch of numerous websites each day. Such factors and trends are driving the North American public key infrastructure market growth.

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