North America Public Key Infrastructure Market

The North America public key infrastructure market is expected to grow from US$ 1,056.25 million in 2022 to US$ 3,743.44 million by 2030. It is estimated to grow at a CAGR of 17.1% from 2022 to 2030.

Increasing Cybersecurity Threats Across Industries Fuels North America Public Key Infrastructure Market

The cases of cyberattacks are rising in enterprises as well as government sectors across the globe. The Insight Partners analysis reported that the number of security incidents across each and every industry increased by 40% in 2017 from 2016. A rise in threats of cyber-attacks in different industries such as BFSI, healthcare, and others, along with growing government regulations are compelling organizations to invest heavily in digital security. Enterprises are becoming increasingly alert to cyber threats. Cybersecurity has already become a critical issue across business, industries, governments, and society; and is expected to continue being a massive issue in the coming years. In the last few years, cyberattacks have affected the ease of conducting business across many industries, including BFSI, healthcare, media & entertainment, and public industries. As per the World Economic Forum, cybersecurity has become a significant challenge for the private as well as public sectors. Such threats are rising the demand for advanced data security solution, fueling the market growth. 

Furthermore, in order to keep the data and device secure, public key infrastructure certificates are used. A public key is a coded value that has both private and public parts, and it enables information to be encrypted and decoded by object or person and operate as a digital certificate. Public key infrastructure certificates are issued by various certificate authorities that create and manage them. The creation of public key infrastructure certificate and its management can be conducted through a management company or in-house. X.509 digital certificates have gained traction in the past few years because they represent identity in a cross-platform. Digital certificates are gaining popularity as they do not need to be publicly trusted or purchased from GeoTrust, Symantec, DigiCert, and other "big box" certificate vendors; they can be issued by an organizations in-house public key infrastructure. Thus, the increasing cases of cybersecurity threats across industries boost the adoption of digital certificates, which drives the market for public key infrastructure.

North America Public Key Infrastructure Market Overview

The public key infrastructure market in North America is segmented into the US, Canada, and Mexico. North America is the early adopter of technologies and has a good IT infrastructure. With the increase in the frequency of cyber-attacks and advancements in technologies, it has become essential for private and government organizations to adopt adequate security solutions to ensure the security of data and avoid fraud due to the theft of credentials.

The Internet Crime Complaint Center (IC3) revealed that in 2022, the FBI received more than 800K cybercrime-related complaints, which led to losses of over US$ 10 billion. These complaints in 2022 included phishing (300k complaints were filed), personal data breach (58k complaints were filed), non-payment/non-delivery scams (51k complaints), extortion (39k complaints), tech support scams (32k complaints), and others. The agency also revealed that in the last five years, they have received a total of 3.26 million complaints, leading to losses of ~US$ 27.6 billion. Thus, the growth in cybercrime activities is raising the need for public key infrastructure to secure the data, fueling the market growth in the region.

Furthermore, the market growth in the region is attributed to the increasing demand for PKI in the automotive industry. According to the American Automotive Policy Council (AAPC), the automotive industry in the US accounts for ~3% of the country's GDP. The automotive industry has become increasingly dependent on electronic data and systems, which has raised the need for data security in the industry. This is further raising the demand for PKI, as it provides a reliable level of authentication and encryption for connected cars. Thus, the growing need for data security in the automotive industry and the increasing cybercrimes are fueling the growth of the public key infrastructure market in North America.

North America Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million)

North America Public Key Infrastructure Strategic Insights

Strategic insights for the North America Public Key Infrastructure provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Public Key Infrastructure Report Scope

North America Public Key Infrastructure Regional Insights

The geographic scope of the North America Public Key Infrastructure refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

North America Public Key Infrastructure Market Segmentation

The North America public key infrastructure market is segmented into component, deployment, enterprise size, end user, and country.

Based on component, the North America public key infrastructure market is segmented into solutions and services. The solutions segment held a larger share of the North America public key infrastructure market in 2022. The services segment 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 a larger share of the North America public key infrastructure market in 2022.

Based on enterprise size, the North America public key infrastructure market is segmented into SMEs and large enterprises. The large enterprises segment held a larger share of the North America public key infrastructure market in 2022.

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 the largest share of the North America public key infrastructure market in 2022.

Based on country, the North America public key infrastructure market is segmented into the US, Canada, and Mexico. The US dominated the North America public key infrastructure market in 2022.

Digicert Inc., eMudhra Limited, Entrust Corp, Fortinet Inc., Futurex LP, GMO GlobalSign Ltd, Sectigo Ltd, and Thales SA are some of the leading companies operating in the North America public key infrastructure market.