DC and PKI Market is projected to reach a valuation of US$ 6.6 Bn in 2022, likely to surge at a vigorous 21.4% CAGR during the forecast period 2022 – 2032. . The major driving factors contributing to the DC and PKI market’s rapid growth include increased adoption of PKI solutions and services, increased trust in online sellers and customers, increased instances of malware and file-based attacks, rising concerns about data loss, increased adoption of IoT and cloud trends, and stringent mandatory regulations and compliances.
The reliance on internet enterprises has grown dramatically as a result of the COVID-19 epidemic. Vendors have seen a drop in demand for a DC and PKI system. In the midst of the COVID-19 pandemic crisis, different governments and regulatory bodies have ordered that both public and private organizations adopt new teleworking and social distance practices.
Since then, digital business practices and the use of email with home servers have become the new business continuity plan (BCP) for many enterprises. With the increased usage of mobile devices and internet penetration throughout the world, people are becoming more motivated to utilize DC and PKI.
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These shifting patterns and scattered IT architectures have rendered firms more vulnerable to cyber-attacks and data breaches, boosting demand for DC and PKI solutions even more. To increase corporate efficiency, organizations are rapidly using varied technical innovations such as workplace mobility, virtualization, and cloud storage. As corporate data from the cloud and virtual storage can be quickly accessible on mobile devices, these advancements have helped firms perform effectively and in real-time.
However, having access to vital company information on mobile devices increases the danger of data loss and theft. Furthermore, the rise in the incidence of mobile device thefts has exacerbated data loss worries, as has the susceptibility of illegal access to corporate information.
Furthermore, corporations transmit information via a variety of physical storage media, such as USBs and DVDs, as well as emails. This raises worries about data theft since information travelling in an unsecured manner may result in unwanted access and abuse. Such difficulties have resulted in an increase in the demand for DC and PKI among businesses.
DC and PKI necessitate specialist expertise in both deployment and operation. Due to the complexities of DC and PKI, individuals with extensive knowledge and skills are required to correctly install and execute DC and PKI. The number of specialists specializing in DC and PKI is dwindling. It is not always seen as a critical business process. North America is expected to have the largest DC and PKI market share in the DC and PKI market. Early adoption of DC and PKI, as well as the availability of multiple suppliers offering DC and PKI solutions, is projected to boost regional DC and PKI market growth.
Businesses in this region are progressively employing DC and PKI solutions to enable data security, prevent cyber-attacks and commercial espionage, and provide data security and privacy for business continuity.
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KEY TAKEAWAYS:
- The software from the DC and PKI market is expected to grow at the fastest CAGR of 22.3% in the solution sector.
- Banking, Financial Services, and Insurance (BFSI) are expected to grow at a high rate in the application sector of the DC and PKI market, with a CAGR of 24.8%.
- The market size for DC and PKI in the United States is expected to reach US$ 17.9 Billion by 2032, growing at a CAGR of 24.4% during the research period.
- United Kingdom is expected to reach a market size of US$ 7.3 Billion in DC and PKI by 2032, with a CAGR of 23.7% during the research period.
- China’s DC and PKI market is expected to be worth US$ 3.4 Billion by 2032, with a CAGR of 20.6% over the forecast period.
- Japan is expected to have a market size for DC and PKI of US$ 2.6 billion by 2032, with a CAGR of 19.5% during the research period.
- By 2032, India is expected to reach a market size of US$ 1165.3 Billion in DC and PKI, with a CAGR of 17.8% during the research period.
COMPETITIVE LANDSCAPE:
GMO GlobalSign, Inc., GoDaddy Group, Verisign, Inc., Thales Group, and Comodo Group, Inc. are among the key and innovative players in the DC and PKI market.
- The Telecom Infra Project (TIP) has chosen DigiCert to deliver worldwide DC and PKI -based security services for TIP’s OpenWiFi platform in May 2021. TIP chose to cooperate with DigiCert because of its focus on offering the finest PKI solution with high automation and scalability. The DigiCert IoT Device Manager, built on the DigiCert ONE platform, offers highly scalable and automated digital certificate administration to help OpenWiFi increase its next-generation Wi-Fi accessibility.
- ManageEngine launched additional capabilities in its Key Manager Plus, a solution for end-to-end certificate administration, in May 2021. Key Manager Plus now includes an Active Directory (AD) synchronization tool, which allows users to plan regular synchronizations for single or many domains.
- AppViewX teamed with Ingram Micro in May 2021 to market, distribute, and enhance awareness of AppViewX’s Certificate Lifecycle Management solution in the United States. AppViewXpert, an upgraded channel partner program, was developed as a result of this strategic alliance. The partner program is designed to grow AppViewX’s partner ecosystem and increase client growth.
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