At 17.1% CAGR, the North America Public Key Infrastructure Market is projected to be worth US$ 3,743.44 million by 2030, says Business Market Insights

According to Business Market Insights research, the North America public key infrastructure market was valued at US$ 1,056.25 million in 2022 and is expected to reach US$ 3,743.44 million by 2030, registering a CAGR of 17.1% from 2022 to 2030. Increasing cybersecurity threats across industries and increasing use of digital certificates in various applications are among the critical factors attributed to the North America public key infrastructure market expansion.

With the increasing trend of digital certificates, PKI is witnessing a huge adoption in various applications. Digital certificate authentication helps various organizations to ensure that only trusted devices and users are being connected to the networks. Also, digital certificates are widely used in SSL certificates for public-facing websites & services, VPN & private networks, public cloud-based applications, email security, device authentication, enterprise user authentication, document signing, private cloud-based applications, and code signing, among others.

Over the past few years, the rise in cloud applications such as IoT and the growing use of digital certificates have been raising the demand for PKI globally. In addition, the cloud PKI solutions offer several benefits, including increased security, lower total cost of ownership (TCO), and easier certificate management. Also, PKI is expected to continue to play a major role in the sales of mobiles to ensure device identity, authentication, and trust anchoring. With the rise in the number of organizations that use certificates for secure mobile connection to Wi-Fi and VPN networks, PKI is implemented to meet the increased demand for the safe, secure transmission of all kinds of data. Thus, the increasing use of digital certificates for various applications is expected to propel the growth of the public key infrastructure market in the coming years.

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

Based on component, the North America public key infrastructure market is segmented into solutions and services. The solutions segment held 75.3% share of North America public key infrastructure market in 2022, amassing US$ 795.51 million. It is projected to garner US$ 2,779.58 million by 2030 to expand at 16.9% CAGR during 2022-2030. The services is further sub segmented into professional services and managed services.

Based on deployment, the North America public key infrastructure market is segmented into on-premise and cloud. The on-premise segment held 60.5% share of North America public key infrastructure market in 2022, amassing US$ 638.80 million. It is projected to garner US$ 2,166.63 million by 2030 to expand at 16.5% CAGR during 2022-2030.

Based on enterprise size, the North America public key infrastructure market is segmented into SMEs and large enterprises. The large enterprises segment held 65.5% share of North America public key infrastructure market in 2022, amassing US$ 691.91 million. It is projected to garner US$ 2,343.55 million by 2030 to expand at 16.5% CAGR during 2022-2030.

Based on end user, the North America public key infrastructure market is segmented into BFSI, retail & e-commerce, government & defense, IT & telecom, manufacturing & automotive, and others. The BFSI segment held 29.4% share of North America public key infrastructure market in 2022, amassing US$ 310.15 million. It is projected to garner US$ 1,042.45 million by 2030 to expand at 16.4% CAGR during 2022-2030.

Based on country, the North America public key infrastructure market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 83.5% share of North America public key infrastructure market in 2022. It was assessed at US$ 881.65 million in 2022 and is likely to hit US$ 3,160.59 million by 2030, exhibiting a CAGR of 17.3% during 2022-2030.

Key players operating in the North America public key infrastructure market are Digicert Inc., eMudhra Limited, Entrust Corp, Fortinet Inc., Futurex LP, GMO GlobalSign Ltd, Sectigo Ltd, and Thales SA, among others.

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