Digital Certificates and Public Key Infrastructure Market
By Solution;
Hardware and SoftwareBy Deployment Model;
Cloud-Based and On-PremiseBy Organization Size;
Large Enterprises and SMEsBy Geography;
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America - Report Timeline (2021 - 2031)Digital Certificates and Public Key Infrastructure Market Overview
Digital Certificates and Public Key Infrastructure Market (USD Million)
Digital Certificates and Public Key Infrastructure Market was valued at USD 8,546.03 million in the year 2024. The size of this market is expected to increase to USD 31,343.66 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 20.4%.
Digital Certificates and Public Key Infrastructure Market
*Market size in USD million
CAGR 20.4 %
Study Period | 2025 - 2031 |
---|---|
Base Year | 2024 |
CAGR (%) | 20.4 % |
Market Size (2024) | USD 8,546.03 Million |
Market Size (2031) | USD 31,343.66 Million |
Market Concentration | Low |
Report Pages | 312 |
Major Players
- GMO GlobalSign, Inc.
- GoDaddy Group
- Verisign, Inc.
- Gemalto N.V.
- Comodo Group, Inc.
- Signix, Inc.
- Ascertia
- Secured Signing Limited
- Docusign Inc
- Identrust, Inc.
- Kofax Limited
- Entrust Datacard Corporation
Market Concentration
Consolidated - Market dominated by 1 - 5 major players
Digital Certificates and Public Key Infrastructure Market
Fragmented - Highly competitive market without dominant players
The Digital Certificates and PKI market is evolving fast, fueled by a growing emphasis on data protection and secure identities. More than 75% of businesses have adopted PKI solutions, recognizing their value in enforcing encrypted communications and authenticating transactions.
Key Functional Advantages and Security Features
Core PKI offerings like certificate lifecycle tools, revocation protocols, and certificate authority services are valued by roughly 68% of users for reinforcing access controls and helping meet compliance mandates. These capabilities are foundational for mitigating cybersecurity risks and managing trusted networks.
Adoption Trends and Use Case Deployment
Digital certificates are now used by nearly 70% of enterprises for secure email, VPN authentication, and code signing. Meanwhile, around 55% of industrial and IoT deployments depend on PKI for device identity verification and secure data exchange, especially in distributed environments.
Market Drivers and Technology Trends
As cloud adoption, remote access, and digital workflows expand, 72% of security leaders rate PKI as critical infrastructure. The incremental adoption of automated certificate provisioning, identity orchestration, and standard-based architectures further strengthens the value proposition.
Global Digital Certificates and Public Key Infrastructure Market Recent Developments
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In May 2021, Verisign Inc. launched its new Public Key Infrastructure (PKI) platform called Verisign Managed PKI for SSL. This platform is designed to offer organizations an easy and cost,effective way to secure online communications and transactions. It provides enhanced security measures while simplifying the operational complexities typically associated with PKI management
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In June 2022, DigiCert, Inc. expanded its service offering by acquiring DNS Made Easy. This acquisition was a strategic move to enhance DigiCert's ability to provide comprehensive and trusted DNS solutions, further strengthening its PKI and security capabilities
Digital Certificates and Public Key Infrastructure Market Segment Analysis
In this report, the Digital Certificates and Public Key Infrastructure Market has been segmented by Solution, Deployment Model, Organization Size, and Geography.
Digital Certificates and Public Key Infrastructure Market, Segmentation by Solution
The Digital Certificates and Public Key Infrastructure Market has been segmented by Solution into Hardware and Software.
Hardware
The hardware segment in the Digital Certificates and Public Key Infrastructure (PKI) market is an essential part of secure communications, including encryption and authentication services. It typically involves specialized hardware tokens, smart cards, and USB devices that store cryptographic keys. As of recent market data, the hardware segment holds around 30% of the market share, driven by the growing demand for physical security solutions in industries like banking, government, and healthcare.
Software
The software segment has become increasingly dominant in the PKI market, accounting for nearly 70% of the market share. This segment includes software-based solutions that enable the management and issuance of digital certificates, encryption, and digital signatures. Due to the rising demand for cost-effective and scalable solutions, the software-based approach is widely adopted by organizations seeking digital security without the need for physical infrastructure.
Digital Certificates and Public Key Infrastructure Market, Segmentation by Deployment Model
The Digital Certificates and Public Key Infrastructure Market has been segmented by Deployment Model into Cloud-based and On-premise.
Cloud-based
The cloud-based deployment model in the Digital Certificates and Public Key Infrastructure (PKI) market is gaining significant traction due to its flexibility, scalability, and cost-effectiveness. With this model, organizations can securely manage and store digital certificates over the cloud, reducing the need for physical infrastructure. It is particularly popular among small to medium-sized enterprises (SMEs), with the cloud segment holding a growing share of the market, accounting for approximately 60% of the market value.
On-premise
The on-premise deployment model offers organizations complete control over their PKI infrastructure, as all digital certificates and cryptographic keys are stored within the organization’s own facilities. This model is typically favored by large enterprises and government bodies that prioritize control and compliance over flexibility. The on-premise segment accounts for about 40% of the market share, as these organizations often have the resources to maintain and manage their infrastructure securely.
Digital Certificates and Public Key Infrastructure Market, Segmentation by Organization Size
The Digital Certificates and Public Key Infrastructure Market has been segmented by Organization Size into Large Enterprises and SMEs.
Large Enterprises
The large enterprises segment in the Digital Certificates and Public Key Infrastructure (PKI) market typically consists of organizations with extensive IT infrastructure and higher security demands. These enterprises require robust PKI solutions to manage their complex digital certificate needs, encryption, and secure communications. Large enterprises account for approximately 75% of the market share, driven by the scale and security requirements in industries such as finance, healthcare, and government.
SMEs
The SMEs (Small and Medium Enterprises) segment in the Digital Certificates and Public Key Infrastructure (PKI) market is experiencing rapid growth as these businesses increasingly adopt digital security solutions. Due to budget constraints, SMEs often prefer scalable, cloud-based PKI solutions that provide flexibility and cost-effectiveness. SMEs currently hold around 25% of the market share, with more businesses seeking affordable and efficient digital certificate management to secure their operations.
Digital Certificates and Public Key Infrastructure Market, Segmentation by Geography
In this report, the Digital Certificates and Public Key Infrastructure Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Regions and Countries Analyzed in this Report
Digital Certificates and Public Key Infrastructure Market Share (%), by Geographical Region
North America
North America is a leading region in the Digital Certificates and Public Key Infrastructure (PKI) market, driven by strong demand for secure digital communications across industries like finance, healthcare, and government. The region's advanced technological infrastructure and regulatory frameworks contribute to its dominance in the market. North America holds a significant market share, accounting for approximately 35% of the global PKI market.
Europe
Europe is another major player in the Digital Certificates and Public Key Infrastructure (PKI) market, with countries like the UK, Germany, and France driving the adoption of PKI solutions. Stringent data protection laws, such as the GDPR, have pushed organizations to implement robust PKI systems for compliance. Europe currently holds around 25% of the market share and continues to show steady growth.
Asia Pacific
The Asia Pacific region is witnessing rapid growth in the PKI market, fueled by the digital transformation initiatives across emerging economies such as India, China, and Japan. The increasing need for secure online transactions and e-commerce in this region is driving the adoption of PKI solutions. Asia Pacific represents approximately 20% of the global market share and is expected to continue growing at a high rate.
Middle East and Africa
The Middle East and Africa (MEA) region is also experiencing growth in the Digital Certificates and Public Key Infrastructure (PKI) market, driven by increasing cybersecurity threats and a rising focus on secure digital transactions. While the MEA region holds a smaller portion of the market, it is expected to expand rapidly as governments and businesses invest more in digital security solutions. The region holds around 10% of the market share.
Latin America
Latin America is witnessing gradual growth in the PKI market, primarily due to the increasing adoption of digital security solutions by businesses and government entities. As online threats continue to rise, Latin American countries are focusing on securing their digital transactions and communications. The region currently holds about 10% of the market share and is forecasted to see significant growth in the coming years.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Digital Certificates and Public Key Infrastructure Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Comprehensive Market Impact Matrix
This matrix outlines how core market forces—Drivers, Restraints, and Opportunities—affect key business dimensions including Growth, Competition, Customer Behavior, Regulation, and Innovation.
Market Forces ↓ / Impact Areas → | Market Growth Rate | Competitive Landscape | Customer Behavior | Regulatory Influence | Innovation Potential |
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Drivers | High impact (e.g., tech adoption, rising demand) | Encourages new entrants and fosters expansion | Increases usage and enhances demand elasticity | Often aligns with progressive policy trends | Fuels R&D initiatives and product development |
Restraints | Slows growth (e.g., high costs, supply chain issues) | Raises entry barriers and may drive market consolidation | Deters consumption due to friction or low awareness | Introduces compliance hurdles and regulatory risks | Limits innovation appetite and risk tolerance |
Opportunities | Unlocks new segments or untapped geographies | Creates white space for innovation and M&A | Opens new use cases and shifts consumer preferences | Policy shifts may offer strategic advantages | Sparks disruptive innovation and strategic alliances |
Drivers, Restraints and Opportunity Analysis
Drivers:
- Increasing Cybersecurity Concerns
- Regulatory Compliance Mandates
- Growing Adoption of Cloud Services
- Digital Transformation Initiatives
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IoT and Mobile Device Proliferation - IoT and mobile device proliferation significantly drives growth in the global digital content creation market, as users increasingly consume and interact with content across a wide range of connected devices. The widespread adoption of smartphones, tablets, smartwatches, and IoT-enabled systems has created a need for content that is highly accessible, responsive, and personalized. Content creators are now focused on developing adaptive experiences that work seamlessly across platforms and device types.
This expanding device ecosystem enables the delivery of real-time, location-based, and data-driven content, which enhances engagement and relevance. As businesses seek to leverage connected environments in retail, healthcare, automotive, and smart homes, digital content must align with user behavior across touchpoints. The rise of IoT and mobile technologies is expected to continue reshaping content formats, distribution strategies, and creative workflows on a global scale.
Restraints:
- Complexity and Integration Challenges
- Limitations due to budgetary constraints
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Lack of Awareness and Skills - Lack of awareness and skills is a key restraint in the global digital content creation market, especially among small businesses and emerging economies. Many organizations are still unfamiliar with content strategy, digital tools, and platform-specific requirements, making it difficult to produce engaging and effective content consistently. This knowledge gap leads to underutilization of advanced technologies like video editing platforms, animation software, and AI-based content generators, limiting creative output and market competitiveness.
Moreover, the shortage of skilled professionals in areas such as graphic design, multimedia production, UX writing, and SEO optimization hampers the ability to meet growing content demands. As content becomes increasingly central to branding, marketing, and communication, the lack of in-house expertise creates dependency on external agencies—often unaffordable for smaller players. Bridging this gap requires training programs, accessible tools, and industry collaboration to democratize digital content creation and expand participation across sectors.
Opportunities:
- Emerging IoT Security Needs
- Compliance and Data Privacy Focus
- Rising demand for robust cloud security
- Industry-Specific Solutions
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Education and Awareness Initiatives - Education and awareness initiatives present a significant opportunity in the global digital content creation market, particularly in fostering broader adoption and skill development. As content becomes a critical component of marketing, e-learning, entertainment, and business communication, there is a growing need to equip individuals and organizations with the knowledge, tools, and best practices necessary for effective content production. Targeted programs focused on digital literacy, design thinking, platform training, and content strategy can empower a new wave of creators and expand market participation.
Governments, tech providers, and educational institutions are increasingly launching initiatives to promote content creation skills, access to creative software, and certification programs. These efforts not only address the talent shortage but also support inclusion by enabling individuals from diverse regions and industries to contribute to the digital economy. As awareness grows, more users will adopt content creation tools, boosting demand and innovation across the ecosystem.
Competitive Landscape Analysis
Key players in Global Digital Certificates and Public Key Infrastructure Market include:
- GMO GlobalSign, Inc.
- GoDaddy Group
- Verisign, Inc.
- Gemalto N.V.
- Comodo Group, Inc.
- Signix, Inc.
- Ascertia
- Secured Signing Limited
- Docusign Inc
- Identrust, Inc.
- Kofax Limited
- Entrust Datacard Corporation
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Market Share Analysis
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Solution
- Market Snapshot, By Deployment Model
- Market Snapshot, By Organization Size
- Market Snapshot, By Region
- Digital Certificates and Public Key Infrastructure Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
- Increasing Cybersecurity Concerns
- Regulatory Compliance Mandates
- Growing Adoption of Cloud Services
- Digital Transformation Initiatives
- IoT and Mobile Device Proliferation
- Restraints
- Complexity and Integration Challenges
- Cost Constraints
- Lack of Awareness and Skills
- Compatibility Issues
- Opportunities
- Emerging IoT Security Needs
- Compliance and Data Privacy Focus
- Cloud Security Demand
- Industry-Specific Solutions
- Education and Awareness Initiatives
- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Digital Certificates and Public Key Infrastructure Market, By Solution, 2021 - 2031 (USD Million)
- Hardware
- Software
- Digital Certificates and Public Key Infrastructure Market, By Deployment Model, 2021 - 2031 (USD Million)
- Cloud-Based
- On-Premise
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Digital Certificates and Public Key Infrastructure Market, By Organization Size, 2021 - 2031 (USD Million)
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Large Enterprises
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SMEs
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- Digital Certificates and Public Key Infrastructure Market, By Geography, 2021 - 2031 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Digital Certificates and Public Key Infrastructure Market, By Solution, 2021 - 2031 (USD Million)
- Competitive Landscape
- Company Profiles
- GMO GlobalSign, Inc.
- GoDaddy Group
- Verisign, Inc.
- Gemalto N.V.
- Comodo Group, Inc.
- Signix, Inc.
- Ascertia
- Secured Signing Limited
- Docusign Inc
- Identrust, Inc.
- Kofax Limited
- Entrust Datacard Corporation
- Company Profiles
- Analyst Views
- Future Outlook of the Market