At 18.7% CAGR, the Asia Pacific Public Key Infrastructure Market is projected to be worth US$ 3,311.33 million by 2030, says Business Market Insights

According to Business Market Insights research, the Asia Pacific public key infrastructure market was valued at US$ 842.52 million in 2022 and is expected to reach US$ 3,311.33 million by 2030, registering a CAGR of 18.7% from 2022 to 2030. Growing logistics and e-commerce sectors and blockchain integration are among the critical factors attributed to the Asia Pacific public key infrastructure market expansion.

The growth in consumer disposable income, changes in their lifestyle, and purchasing patterns have contributed to a rise in sales of online goods and products. Consumers prefer to shop online as the shopping platforms offer a selection from an enormous range of products and save time and money compared to brick-and-mortar stores. In addition, the rise in the penetration of the internet and smartphones drives the e-commerce industry. For instance, per the India Brand Equity Foundation, the online shopper base in India was 150 million in 2021 and is expected to reach 350 million by 2026. Also, the growth in the e-commerce industry is contributing to increased transportation of goods, leading to the expansion of the logistics sector. As logistic companies transfer goods from one place to another, they consist of various consumer data, including online transaction information. In order to protect this data, logistics companies use public key infrastructure, such as regular key rotation and current cryptographic standards, raising the demand for public key infrastructure solutions in the logistics industry.

Furthermore, the nature of online transactions has changed rapidly over time with advancements in technology. The e-commerce industry has witnessed rapid growth across the globe, which has raised the need for the security of data on the e-commerce platform. Confidentiality, integrity, and non-repudiation are essential components of data security. Data encryption technology has drawn tremendous interest as an active security defense technique since it offers cost-effective and strong information security protection. Moreover, in the age of big data, it is challenging to play a security function using conventional data encryption techniques and Internet protocols, which is raising the demand for public key infrastructure solutions. Combining encryption technology with the public key technology of SSL protocol (Secure Sockets Layer Protocol) and SET protocol (Secure Electronic Transaction) can help improve communication confidentiality and transaction credibility of e-commerce platforms. This advancement improves the security defense capability of the e-commerce and logistics sectors through a higher encryption level. Thus, growing logistics and e-commerce sectors boost the growth of the public key infrastructure market.

On the contrary, lack of technically skilled professionals hampers the Asia Pacific public key infrastructure market.

Based on component, the Asia Pacific public key infrastructure market is segmented into solutions and services. The solutions segment held 77.3% share of Asia Pacific public key infrastructure market in 2022, amassing US$ 651.22 million. It is projected to garner US$ 2,522.82 million by 2030 to expand at 18.4% CAGR during 2022-2030. The services segment is further sub segmented into professional services and managed services.

Based on deployment, the Asia Pacific public key infrastructure market is segmented into on-premise and cloud. The on-premise segment held 61.0% share of Asia Pacific public key infrastructure market in 2022, amassing US$ 514.14 million. It is projected to garner US$ 1,935.00 million by 2030 to expand at 18.0% CAGR during 2022-2030.

Based on enterprise size, the Asia Pacific public key infrastructure market is segmented into SMEs and large enterprises. The large enterprises segment held 69.4% share of Asia Pacific public key infrastructure market in 2022, amassing US$ 584.73 million. It is projected to garner US$ 2,209.67 million by 2030 to expand at 18.1% CAGR during 2022-2030.

Based on end user, the Asia Pacific public key infrastructure market is segmented into BFSI, retail & e-commerce, government & defense, IT & telecom, manufacturing & automotive, and others. The BFSI segment held 31.2% share of Asia Pacific public key infrastructure market in 2022, amassing US$ 262.74 million. It is projected to garner US$ 980.24 million by 2030 to expand at 17.9% CAGR during 2022-2030.

Based on country, the Asia Pacific public key infrastructure market has been categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 27.9% share of Asia Pacific public key infrastructure market in 2022. It was assessed at US$ 234.73 million in 2022 and is likely to hit US$ 986.11 million by 2030, exhibiting a CAGR of 19.7% during 2022-2030.

Key players operating in the Asia Pacific public key infrastructure market are Digicert Inc., eMudhra Limited, Entrust Corp, Fortinet Inc., GMO GlobalSign Ltd, Sectigo Ltd, Securemetric Berhad, and Thales SA, among others.

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