Certificate Authority Market Size (2024 - 2029)

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.