Northbrook, IL 60062 -- (SBWIRE) -- 08/21/2023 -- The global Certificate Authority Market size is projected to grow from USD 167 million in 2023 to USD 282 million by 2028 at a Compound Annual Growth Rate (CAGR) of 11.0% during the forecast period, according to research report by MarketsandMarkets™.

Rise in instances of HTTPS phishing attacks drives the growth of the certificate authority market. Moreover, lack of awareness among organizations about the importance of SSL certificates may hinder market growth.

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Based on offerings, the services segment is expected to grow at higher CAGR during the forecasted period.

Certificate authority services are the support offered by vendors to assist their customers with the efficient use and operation of certificates. These services include support services, implementation and integration services, and managed PKI services. Moreover, these services offer guidelines on the use of certificates and help embed best practices in organizations. Services associated with certificate authorities contribute to enhanced user experience by providing secure and seamless digital interactions. SSL/TLS certificates, for example, display padlock icons or green address bars in web browsers, indicating a secure connection, which instills trust in users and encourages them to engage with online services.

Technological advancements, such as quantum computing and blockchain, present new challenges and opportunities in the field of digital security. Certificate authorities are evolving their services to address these emerging technologies, including developing quantum-resistant encryption algorithms and providing blockchain-based certificate management solutions.

By SSL certificate validation type, the domain validation segment to hold a larger market size during the forecast period

Domain validation offers organizations an economical, quick, and easy-to-implement option for securing their websites. Domain validated, and fully automated validation type enables users to start protecting their eCommerce, logins, webmail, blog visitors, and more within a few minutes. It is one of the fastest and most affordable ways to activate SSL protection for the website. Various industry standards and best practices, such as those set by the Payment Card Industry Data Security Standard (PCI DSS) or the General Data Protection Regulation (GDPR), require the use of SSL/TLS certificates for secure data transmission. In such cases domain validation certificates help organizations meet these compliance requirements in a cost-effective manner.

By region, Asia Pacific is to grow at the highest CAGR during the forecast period.

Asia Pacific is the fastest-growing region in the certificate authority market, with promising growth opportunities in China, Japan, India, and other developing countries. The large enterprises and SMEs in the region realize the significance of data security and are receptive to adopting dedicated certificate authority solutions to protect their critical and sensitive business data from commercial espionage, cyber threats, and misuse of data for monetary gains.

Enhancements in the industries which handle critical data like government, BFSI and healthcare infrastructure have increased the demand for certificate authority solutions in this region. Due to the rise in internet users and the frequency of cyberattacks, several Asia Pacific nations are putting on large public awareness campaigns and programs on cybersecurity. Due to their capacity to increase online security, these initiatives are driving the need for identity certificates or digital signatures. As a result, the market for certificate authorities in the Asia Pacific region is expanding.

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Sectigo (US), Digicert (US), GlobalSign (Belgium), GoDaddy (US), IdenTrust (US), Entrust (US), Certum (Poland), Actalis (Italy), Lets Encrypt (US), SSL.Com (US), E-Tugra (Turkey), WISekey (Switzerland), Trustwave (US), SwissSign (Switzerland), TWCA (China), Buypass (Norway), Camerfirma (Spain), Harica Greece), Certigna (France), NETLOCK (Hungary), TURKTRUST (Turkey), certSIGN (Romania), Disig (Slovakia), Network Solutions (US), OneSpan (US) are the key players and other players in the certificate authority market.

Key Dynamic Factors For Certificate Authority Market:

The importance of safe online transactions and data protection has increased dramatically as a result of the growing digitalization of organisations and the increase in cyberthreats. To ensure secure communication and encryption, this increases the demand for SSL/TLS certificates and other digital certificates issued by CAs.

Regulatory Compliance: Organisations are required to safeguard their data and communications in order to comply with laws and standards like the General Data Protection Regulation (GDPR) and the Payment Card Industry Data Security Standard (PCI DSS). The usage of SSL/TLS certificates and other certificates is frequently required to comply with these rules, which expands the CA business.

Increase in IoT Devices: As a result of the Internet of Things (IoT), there has been a massive increase in the number of linked devices. Many of these gadgets demand encrypted communication and certificate-based authentication. In order to maintain the reliability and security of IoT ecosystems, CAs are essential in supplying these certifications.

Technology Changes and Encryption Standards: As technology changes, encryption standards also change. To stay relevant and offer their clients the most recent security precautions, CAs must adapt to new encryption algorithms and protocols.

Online transactions and e-commerce are continuing to grow on a global scale. E-commerce websites rely on SSL certificates to create secure connections in order to maintain user confidence and data security. The need for CA services is fueled by this.

Public Awareness of Online Security: Public awareness of online security has increased as a result of high-profile data breaches and cybersecurity incidents. Due to this, people and businesses have started looking for more secure online interactions, which has prompted the adoption of SSL certificates and other security tools offered by CAs.

Competition and Market Consolidation: There has been competition in the CA market between long-standing businesses and recent arrivals. Due to this, new ideas, aggressive pricing, and the introduction of other certificate offerings have all resulted. The environment has also been impacted by mergers and acquisitions that have consolidated the market.

Emergence of New Use Cases: In addition to standard online security, CAs are now beginning to offer certificates for new use cases. This covers certificates for email, API, and microservice security, as well as certificates for code signing. the capacity to accommodate various security

Switch to Automated Management: Managing certificates can be challenging, particularly for large organisations that have a high number of certificates. The importance of automation platforms and solutions for managing and renewing certificates has increased, spurring innovation in the CA sector.

Establishing confidence in online transactions and communication is mostly dependent on certificate authority. Maintaining trust in the digital environment depends on CAs having a reputation for issuing trustworthy and secure certificates.

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Competitive and Segmentation Analysis:

The market for certificate authorities (CAs) is characterised by fierce competition, which is fueled by the rising importance of cybersecurity, legal compliance, and business digitization. Due to their long-standing reputation, wide certificate offerings, and history of delivering secure solutions, well-established market players like DigiCert, GlobalSign, and Comodo CA have a strong foothold. These businesses have been successful in capturing a large portion of the market by utilising their brand recognition and domain expertise.

Innovative companies and new players, however, have also entered the scene and are now delivering solutions that are competitive. By offering free SSL certificates, newcomers like Let's Encrypt have upended the market and democratised access to encryption and security. Smaller companies and individual website owners have taken notice of this strategy, which is undermining the conventional business models of well-known CAs.

The competitive environment has also been shaped by mergers and acquisitions. To diversify their service offerings and improve their capabilities, bigger cybersecurity firms have purchased smaller CAs. Because of this trend, the industry has become more competitive as bigger businesses compete to offer comprehensive security solutions.

The constant advancement of encryption standards and technology feeds the competitive dynamics even more. By providing the most recent security protocols and assuring interoperability with cutting-edge technologies like the Internet of Things (IoT) and blockchain, CAs that remain at the forefront of these innovations can gain a competitive advantage.

With the use of segmentation, CAs can adjust their solutions to meet the needs of particular clients and conform to sector standards, expanding their market share. This strategy also enables companies to adjust quickly to regional regulatory differences and business changes, assuring their continued relevance and competitiveness in the changing marketplace.

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