North America Public Key Infrastructure (PKI) Market By Component (Solution, Hardware Security Modules (HSM), and Services), By Deployment Type (On-premise and Cloud), By Enterprise Size (Large Enterprises and Small & Medium Enterprises), By End User (BFSI, Retail, Government & Defense, Healthcare, Telecom & IT, Manufacturing, and Others), By Country, Opportunity Analysis and Industry Forecast, 2021 - 2027
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Market Report Description
The North America Public Key Infrastructure (PKI) Market would witness market growth of 16.8% CAGR during the forecast period (2021-2027).
PKI is the group of software, hardware, processes, policies, and procedures needed to develop, manage, store, utilize, distribute, and revoke digital certificates and public keys. These PKIs are the base, which allows the usage of technologies like digital signatures and encryption, across huge user populations. In addition, it also helps in providing the elements important for a safe and trusted business surrounding e-commerce and the escalating Internet of Things (IoT).
BFSI vertical is among the most regulated verticals because it needs to fulfil all the security requirements. The data security needs for the BFSI sector have increased owing to the high dealing of the companies in sensitive and private information. There are numerous government regulations like Gramm-Leach-Bliley Act (GLBA), Federal Financial Institutions Examination Council (FFIEC), Personal Information Protection and Electronic Documents Act (PIPEDA), coupled with standards like PCI DSS and SOX, need financial institutions to ensure the high protection of data from phishing, APTs, malware, and other high-level attacks.
The high adoption of various latest technologies and solutions across developed nations like the US and Canada is creating lucrative opportunities for the key players of the PKI market. In addition, the presence of numerous technological giants would augment the demand for public key infrastructure solutions and services. Several companies are increasingly investing in making their server stronger and safer, which is fueling the demand for PKI across the region.
The key market players in this region are majorly focusing on investing in R&D to make advanced solutions, which is attracting more enterprises to adopt the technology to strengthen the security of their company. Additionally, the increasing internet penetration and high reliability of the enterprises on the internet and related solutions and services would accelerate the demand for PKI in this region.
The US market dominated the North America Public Key Infrastructure (PKI) Services Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $589.5 million by 2027. The Canada market is experiencing a CAGR of 20.4% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 19.5% during (2021 - 2027).
Based on Component, the market is segmented into Solution, Hardware Security Modules (HSM), and Services. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into BFSI, Retail, Government & Defense, Healthcare, Telecom & IT, Manufacturing, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Google, Inc., Amazon.com, Inc., Microsoft Corporation, Zoho Corporation Pvt. Ltd., Entrust Corporation (Thoma Bravo, LP), Futurex LP, HID Global Corporation, Venafi, Inc. (Thoma Bravo), Keyfactor (Certified Only, Inc.), and Nexus Group.
Scope of the Study
Market Segments Covered in the Report:
- Hardware Security Modules (HSM)
By Deployment Type
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises
By End User
- Government & Defense
- Telecom & IT
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Google, Inc.
- Amazon.com, Inc.
- Microsoft Corporation
- Zoho Corporation Pvt. Ltd.
- Entrust Corporation (Thoma Bravo, LP)
- Futurex LP
- HID Global Corporation
- Venafi, Inc. (Thoma Bravo)
- Keyfactor (Certified Only, Inc.)
- Nexus Group
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