According to a recently published Future Market Insights analysis report, the global sales of certificate authorities were estimated to reach US$ 130 million in 2021. The anticipated market growth from 2022 to 2032 is anticipated to be slightly larger than the increase in the past, coming in at 11.9%. Healthcare is anticipated to generate the biggest amount of revenue, with a projected CAGR of about 11.8% from 2022 to 2032.
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Revenue of Certificate Authority Market from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032
Market research and competitive intelligence provider Future Market Insights claims that between 2017 and 2021, at a CAGR of approximately 12.3%, the market value of certificate authorities expanded dramatically. By 2032, the market is projected to be worth US$ 450 million, with an absolute monetary potential of US$ 304 million.
In December 2019, over 4.6 million people worldwide, or 58% of the population, accessed the internet. This number increased from more than 4.3 million in December 2018 to roughly 55% of the world’s population.
Many countries conduct cybersecurity awareness-raising programmes to address this issue. As a result of these initiatives to improve internet users’ cybersecurity understanding and safeguard their access to web material, people are becoming more familiar with digital signatures and identity certificates, which is advantageous for the expansion of the certificate authority industry.
What Elements Drive Demand for Certificate Authorities?
Cybercriminals are launching Hypertext Transfer Protocol Secure phishing attacks using the epidemic as cover. Through the use of social engineering techniques, they take advantage of vulnerable individuals by luring them to fraudulent websites that advertise everything from remedies to bogus information. SpyCloud looked into about 130 thousand hostnames and fully qualified domain names that were connected to COVID-19 or the coronavirus.
Hypertext Transfer Protocol and Hypertext Transfer Protocol Secure were discovered to be used by 78.4% of COVID-19 domains. The number of pandemic-related phishing attempts increased by 33% in June 2021, following a brief break in COVID-19-related threat activity in the spring and early summer of 2021. Alongside the increase in June, the number of “Delta variation” searches on Google climbed.
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Analysis by country
Which nation commands the largest share of the certificate authority market?
By the end of 2032, the United States is anticipated to have the largest market, at US$ 130.2 Mn. Additionally, the country’s market is anticipated to contribute US$ 81.1 million in absolute currency growth. In April 2022, in reaction to the conflict between Russia and Ukraine, as well as a regular stream of threat campaigns and vulnerability releases targeted at the country, the US State Department formed the Bureau of Cyberspace and Digital Policy.
Certificate Authority Market Segmentation
By Component:
- Certificate
- SSL Certificates
- Code Signing Certificates
- Secure Email Certificates
- Authentication Certificates
- Services
By Organization Size:
- Large Enterprises
- Small & Medium Enterprises
By End Use:
- BFSI
- Retail
- Healthcare
- IT and Telecom
- Other
By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
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