At 16.5% CAGR, the Europe Public Key Infrastructure Market is projected to be worth US$ 3,021.33 million by 2030, says Business Market Insights

According to Business Market Insights research, the Europe public key infrastructure market was valued at US$ 891.21 million in 2022 and is expected to reach US$ 3,021.33 million by 2030, registering a CAGR of 16.5% from 2022 to 2030. Growing logistics and e-commerce sectors and blockchain integration are among the critical factors attributed to the Europe public key infrastructure market expansion.

Blockchain integration presents a compelling opportunity to the PKI market by enhancing the security and functionality of decentralized systems. PKI provides a robust framework for managing digital identities, authenticating users, and securing communications - essential components for blockchain networks. As blockchain relies on cryptographic keys for identity verification and transaction integrity, PKIs expertise in key management seamlessly aligns with blockchains requirements. The combination ensures the trustworthiness of digital transactions, mitigates the risk of unauthorized access, and safeguards the integrity of data within the blockchain. This synergy between PKI and blockchain is crucial for fostering trust in decentralized ecosystems, making PKI a key enabler for blockchain-based applications ranging from financial transactions to supply chain management. As blockchain continues to permeate various industries, the demand for PKI solutions to fortify the security infrastructure of decentralized networks is a significant avenue for the PKI market.

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

Based on component, the Europe public key infrastructure market is segmented into solutions and services. The solutions segment held 76.0% share of Europe public key infrastructure market in 2022, amassing US$ 677.40 million. It is projected to garner US$ 2,256.23 million by 2030 to expand at 16.2% CAGR during 2022-2030. The services segment is further sub segmented into professional services and managed services.

Based on deployment, the Europe public key infrastructure market is segmented into on-premise and cloud. The on-premise segment held 58.6% share of Europe public key infrastructure market in 2022, amassing US$ 522.17 million. It is projected to garner US$ 1,690.78 million by 2030 to expand at 15.8% CAGR during 2022-2030.

Based on enterprise size, the Europe public key infrastructure market is segmented into SMEs and large enterprises. The large enterprises segment held 63.5% share of Europe public key infrastructure market in 2022, amassing US$ 566.18 million. It is projected to garner US$ 1,837.92 million by 2030 to expand at 15.9% CAGR during 2022-2030.

Based on end user, the Europe public key infrastructure market is segmented into BFSI, retail & e-commerce, government & defense, IT & telecom, manufacturing & automotive, and others. The BFSI segment held 30.3% share of Europe public key infrastructure market in 2022, amassing US$ 270.36 million. It is projected to garner US$ 873.72 million by 2030 to expand at 15.8% CAGR during 2022-2030.

Based on country, the Europe public key infrastructure market has been categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 24.4% share of Europe public key infrastructure market in 2022. It was assessed at US$ 217.46 million in 2022 and is likely to hit US$ 766.21 million by 2030, exhibiting a CAGR of 17.1% during 2022-2030.

Key players operating in the Europe public key infrastructure market are Digicert Inc., ENIGMA Systemy Ochrony Informacji SP. Z O.O., Entrust Corp, Fortinet Inc., Futurex LP, GMO GlobalSign Ltd, Sectigo Ltd, and Thales SA, among others.

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