Newly-released Certificate Authority Market analysis report by Future Market Insights reveals that global sales of the Certificate Authority Market in 2021 were held at USD 130 Million.
With 11.9%, the projected market growth from 2022 to 2032 is expected to be slightly higher than the historical growth. Healthcare is expected to be the highest revenue-generating segment, projected to grow at a CAGR of over 11.8% from 2022 to 2032.
| Attributes | Details |
|---|---|
| Certificate Authority Market Size (2022) | USD 145.7 Million |
| Certificate Authority Market Size (2032) | USD 450 Million |
| Certificate Authority Market CAGR (2022 to 2032) | 11.9% |
| USA Market CAGR (2022 to 2032) | 10.2% |
| Key Companies Covered | Sectigo Ltd.; DigiCert Inc.; GoDaddy Inc.; GMO GlobalSign Ltd.; IdenTrust Inc.; Entrust Datacard Corporation; ACTALIS S.p.A; Trustwave Holdings Inc.; WiseKey International Holdings AG; Network Solutions; Let's Encrypt |
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As per the Global Certificate Authority Market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market value of the Certificate Authority Market increased at around 12.3% CAGR. With an absolute dollar opportunity of USD 304 Million, the market is projected to reach a valuation of USD 450 Million by 2032.
In December 2019, there were around 4.6 Million internet users worldwide, accounting for nearly 58% of the total population. This number increased from more than 4.3 Million in December 2018, when it constituted around 55% of the global population.
Many countries run programs to raise awareness about cybersecurity in an effort to combat this problem. Users' acquaintance with digital signature or identity certificates is increasing as a result of such efforts to increase internet users' knowledge of cybersecurity and secure their access to web content, which is positive for the growth of the certificate authority sector.
Cybercriminals are exploiting the pandemic to launch Hypertext Transfer Protocol Secure phishing attacks. They prey on people in distress by employing social engineering techniques to lure them to scam websites that offer everything from treatments to false information. SpyCloud investigated around 130 thousand COVID-19 or coronavirus-related hostnames and fully qualified domain names.
Around 78.4% of COVID-19 domains were found to use both Hypertext Transfer Protocol and Hypertext Transfer Protocol Secure. Following a brief lull in COVID-19-themed threat activity in the spring and early summer of 2021, pandemic-related phishing attempts increased by 33% in June 2021. Google search volume for Delta variation increased in tandem with the increase in June.
As of February 2021, Google Chrome accounted for around 46% of the market share for all internet browsers in the USA. Google claims that most page loads in Chrome on the majority of operating systems use Hypertext Transfer Protocol Secure rather than Hypertext Transfer Protocol. A Hypertext Transfer Protocol Secure-Only Mode will be available as an option in Google's Chrome web browser.
The new feature, which functions as a toggle on the security settings page, limits access to websites that use the Hypertext Transfer Protocol when it is turned on. Another icon that Google proposes to deploy in place of the padlock is a downward-facing chevron or caret that launches a menu for configuring site permissions and accessing other site data.
In a Google survey with moderately tech-savvy participants, only 11% of respondents properly identified the meaning of the padlock icon. Others thought it was the bookmark icon or favicon for the website. And this is another way to warn visitors that just because a site uses Hypertext Transfer Protocol Secure doesn't mean it is trustworthy.
Principal Consultant
Many government and private organizations throughout the world carry out their business operations online. Businesses across all industry verticals do not use digital certificates for their websites due to a lack of knowledge of the need for secured websites. The vendors think they do not require security certifications as they do not do any internet business.
However, using the web-based email services offered by these websites is not secure. A user may find it difficult to distinguish between a genuine certificate issued by a trustworthy certificate authority and a phony one. However, a digital certificate can be used to positively identify an organization, object, or person on the other side of a web page or mobile app. Since digital certificates are encrypted, they prevent messages and attachments from being changed or tampered with while being transferred via a website.
In order to certify apps, secure internal servers, and IP addresses that do not need public trust but do need the security offered by Secure Sockets Layer encryption, many firms set up their own certification authority or employ self-signed certificates. Data encryption is possible with self-signed certificates, just like certificates from reputable institutions. The certificate can target visitors' connections since it cannot be revoked, unlike a trustworthy certificate. An attacker may try to set up a phony server to intercept all traffic if a user accepts a self-signed certificate or phish the user for more information.
When clients only need to connect to the server via a local intranet, self-signed certificates are typically utilized, which virtually removes the risk of a man-in-the-middle attack. While developing and testing their apps, organizations also use self-signed certifications.
During the projection period, North America is projected to lead the Certificate Authority Market. The USA and Canada have updated or put into effect new national cybersecurity legislation that will boost the certificate authority sector.
Google has continuously expanded its market share in the certificate authority market with the launch of the Google Cloud Certificate Authority Service. In August 2021, Jetstack, Keyfactor, and Small step also joined the CAS partnership program, joining their partners Venafi and AppViewx. The emergence of a huge number of digital certificate providers as well as stringent data security rules and compliance requirements were the key causes for this.
The country lacks a central federal privacy law like the European Union's General Data Protection Regulation. Instead, there is a variety of vertically focused federal privacy legislation together with new customer-oriented privacy laws in certain states.
Among the laws governing data privacy in the US are the Children's Online Privacy Protection Act, passed in 2000, the Health Insurance Portability and Accountability Act, authorized in 1996, and the USA Privacy Act of 1974.
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The USA is expected to account for the highest market valued at USD 130.2 Million by the end of 2032. Also, the market in the country is projected to account for an absolute dollar growth of USD 81.1 Million.
The US State Department established the Bureau of Cyberspace and Digital Policy in April 2022 in response to the conflict between Russia and Ukraine as well as a steady stream of threat campaigns and vulnerability releases targeted at the nation.
The bureau's objective is to establish an online defense and privacy-protection policies and recommendations as the Biden administration works to incorporate cybersecurity into American foreign policy. The region's demand for security certificate implementation has increased as a result of these changes.
Market revenue through the healthcare sector is forecasted to grow at a CAGR of over 11.8% from 2022 to 2032. Medical websites and apps should use Secure Sockets Layer encryption since doing so increase the accessibility, affordability, transparency, and cybercrime exposure of healthcare services. After installing Secure Sockets Layer Certificates, every data used in the app or website is encrypted, and only the intended recipient can decrypt it.
The owner of a medical website must ensure that it is Hypertext Transfer Protocol Secure. Choosing the right Secure Sockets Layer certificate should also be a top priority for the Secure Sockets Layer website security of a medical website.
An EV Secure Sockets Layer certificate is suggested since it offers the highest level of validation as well as the encryption required for medical websites. The healthcare industry is considered to account for the highest potential for future growth. A healthcare website must employ digital certificates since hospitals and clinics store massive volumes of private and sensitive data. The healthcare industry has boosted its digitalization initiatives, which will help the certifying authorities' future market expansion potential.
The healthcare sector is increasingly utilizing contemporary technology to provide patients with a customized and user-friendly experience. The expansion strategy of partnerships, mergers, and acquisitions in the healthcare sector vertical has made it more difficult to protect user passwords and other private information.
Medical personnel can protect patient health information on mobile devices like computers and smartphones with the aid of digital certificates. Additionally, the growth in cyberattacks on personally identifiable information is causing healthcare firms to be quite concerned.
Players in the market are constantly developing improved analytical solutions as well as extending their product offerings. The companies in the Certificate Authority market are focused on their alliances, technology collaborations, and product launch strategies.
Some of the recent developments of key Certificate Authority providers are as follows:
Similarly, recent developments related to companies in Certificate Authority Market have been tracked by the team at Future Market Insights, which are available in the full report.
The global Certificate Authority Market is worth more than USD 145.7 Million at present.
The value of the Certificate Authority Market is projected to increase at a CAGR of around 11.9% from 2022 to 2032.
The value of Certificate Authority Market increased at a CAGR of around 12.3% from 2017 to 2021.
The growth of the market for Certificate Authority in the USA is projected to expand at a CAGR of around 10.2% from 2022 to 2032.
The growth of the market for Certificate Authority in China is projected to expand at a CAGR of around 12.9% from 2022 to 2032.
While the market in South Korea is expected to grow at nearly 12.4%, the market in Japan is projected to register a CAGR of nearly 11.3% from 2022 to 2032.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Component 5.1. Certificate 5.1.1. SSL Certificates 5.1.2. Code Signing Certificates 5.1.3. Secure Email Certificates 5.1.4. Authentication Certificates 5.2. Services 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Organization Size 6.1. Large Enterprises 6.2. Small and Medium-Sized Enterprises 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End-User Vertical 7.1. BFSI 7.2. Retail 7.3. Healthcare 7.4. IT and Telecom 7.5. Other 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. Middle East and Africa (MEA) 9. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Sectigo Ltd. 16.2. DigiCert Inc. 16.3. GoDaddy Inc. 16.4. GMO GlobalSign Ltd. 16.5. IdenTrust Inc 16.6. CERTUM PCC 16.7. ACTALIS S.p.A 16.8. Entrust Datacard Corporation 16.9. WISeKey International Holding AG 16.10. Trustwave Holdings Inc. 17. Assumptions & Acronyms Used 18. Research Methodology
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Certificate Authority Market
