Market Size of Certificate Authority Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 187.70 Million |
Market Size (2029) | USD 318.80 Million |
CAGR (2024 - 2029) | 11.18 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Certificate Authority Market Analysis
The Certificate Authority Market size is estimated at USD 187.70 million in 2024, and is expected to reach USD 318.80 million by 2029, growing at a CAGR of 11.18% during the forecast period (2024-2029).
The certificate authority market is primarily driven by the growing need to comply with stringent data protection regulations and laws, growing digital transformation across end-user industries, growing prominence of certificate authorities in digital security, and growth in data breaches across industries.
- The rise in awareness among internet users about secure web access, the increasing need to build trust among the expanding online customer base, and adherence to rigorous compliances and regulations are the major factors anticipated to drive the market growth studied during the forecast period.
- In addition, managing strict regulations and compliance such as the Health Insurance Portability and Accountability Act (HIPAA), General Data Protection Regulation (GDPR), Payment Card Industry Data Security Standard (PCI DSS), etc., in end-user organizations across the world is a key driving force for the global certificate authority market. The CAs help businesses CAs to maintain the security of their infrastructure and issue certificates in compliance with industry standards and best practices.
- The growing adoption of IoT and BYOD trends are further analyzed to drive the growth of the certificate authority market over the forecast period. The emerging business models and applications, coupled with the reduction of device costs, have been instrumental in driving the adoption of IoT and consequently, the number of connected devices. This rapid expansion of IoT devices across organizations underscores the necessity of utilizing digital certificates from certificate authorities to uphold the confidentiality and integrity of data exchanged between connected devices and servers.
- However, the lack of awareness surrounding security certificates is a barrier to expanding the certificate authority market. This is manifested through diminished demand for security solutions, obstacles in adopting secure technologies, and difficulties in educating the market about the significance of secure web access. Addressing the lack of awareness through targeted educational initiatives and awareness campaigns is crucial to overcome this challenge. By doing so, trust can be fostered, leading to increased adoption of security certificates and ultimately driving market growth.
Certificate Authority Industry Segmentation
The global certificate authority market is defined based on the revenues generated from the certificate types and services offered by various companies that are being used in various end-user verticals across the world. The analysis is based on the market insights captured through secondary research and the primaries.
The certificate authority market is segmented by component (certificate types (SSL certificates, code signing certificates, secure email certificates, and authentication certificates) and services), organization size (large enterprises, small and medium-sized enterprises), end-user vertical (BFSI, retail, healthcare, IT and telecom, other end-user verticals), and geography (North America, Europe, Asia-Pacific, and Rest of the World). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
By Component | ||||||
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Services |
By Organization Size | |
Large Enterprises | |
Small and Medium-Sized Enterprises |
By End-user Vertical | |
BFSI | |
Retail | |
Healthcare | |
IT and Telecom | |
Other End-user Verticals |
By Geography*** | |
North America | |
Europe | |
Asia | |
Australia and New Zealand | |
Latin America | |
Middle East and Africa |
Certificate Authority Market Size Summary
The certificate authority market is poised for significant growth, driven by the increasing need for compliance with stringent data protection regulations and the rising importance of digital security across various industries. As digital transformation accelerates, the demand for certificate authorities to secure online transactions and communications is becoming more critical. This growth is further fueled by the expanding adoption of IoT and BYOD trends, which necessitate robust security measures to protect the integrity and confidentiality of data exchanged between connected devices. Despite these positive trends, the market faces challenges due to a lack of awareness about the importance of security certificates, which can hinder the adoption of secure technologies. Addressing this gap through targeted educational initiatives is essential to foster trust and drive market expansion.
In the banking, financial services, and insurance (BFSI) sector, the need for secure SSL certificates is paramount to protect sensitive customer information and ensure safe online transactions. The sector's rapid digital evolution, characterized by increased mobile banking and digital payment solutions, underscores the critical role of digital certificates in maintaining transaction security. The Asia Pacific region is expected to witness substantial growth in the certificate authority market, supported by advancements in cybersecurity practices and a growing number of connected devices. The competitive landscape is marked by the presence of major players like DigiCert Inc., Sectigo Limited, and GoDaddy Inc., who are actively engaging in strategic collaborations and mergers to enhance their market share. Recent initiatives, such as GlobalSign's integration of AI for sustainable development in M&A, highlight the ongoing efforts to strengthen the market's growth trajectory.
Certificate Authority Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Forces Analysis
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1.2.1 Bargaining Power of Suppliers
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1.2.2 Bargaining Power of Buyers
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1.2.3 Threat of New Entrants
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1.2.4 Degree of Competition
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1.2.5 Threat of Substitutes
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1.3 Value Chain Analysis
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1.4 Assessment of COVID-19 Impact on the Industry
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2. MARKET SEGMENTATION
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2.1 By Component
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2.1.1 Certificate Types
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2.1.1.1 SSL Certificates
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2.1.1.2 Code Signing Certificates
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2.1.1.3 Secure Email Certificates
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2.1.1.4 Authentication Certificates
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2.1.2 Services
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2.2 By Organization Size
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2.2.1 Large Enterprises
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2.2.2 Small and Medium-Sized Enterprises
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2.3 By End-user Vertical
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2.3.1 BFSI
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2.3.2 Retail
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2.3.3 Healthcare
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2.3.4 IT and Telecom
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2.3.5 Other End-user Verticals
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2.4 By Geography***
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2.4.1 North America
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2.4.2 Europe
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2.4.3 Asia
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2.4.4 Australia and New Zealand
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2.4.5 Latin America
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2.4.6 Middle East and Africa
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Certificate Authority Market Size FAQs
How big is the Certificate Authority Market?
The Certificate Authority Market size is expected to reach USD 187.70 million in 2024 and grow at a CAGR of 11.18% to reach USD 318.80 million by 2029.
What is the current Certificate Authority Market size?
In 2024, the Certificate Authority Market size is expected to reach USD 187.70 million.