The global certificate authority market is estimated to account for USD 127 Million in 2021. It is projected to reach USD 226 Million, at a CAGR of 12.3% from 2021 to 2026. The major driving factors contributing to the high growth rate of the certificate authority market include an rise in instances of HTTPS phishing attacks, increasing instances of malware and file-based attacks, rising concerns pertaining to loss of critical data, and stringent mandatory regulations and compliances.
By component, the services segment to register the highest growth rate during the forecast period
The demand for certificate authority products is expected to grow significantly in the next five years due to the organization’s increasing focus on ensuring security, rising user’s trust, and the need to comply with various regulations and standards. Certificate authority services are the support offered by vendors to assist their customers with the efficient use and operation of certificates. It involves various services to proactively detect and recommend the appropriate action to resolve the issues related to certificate management. These services include support services, implementation and integration services, and managed PKI services. Moreover, these services offer guidelines on the use of certificates and help embed best practices in organizations.
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Based on vertical, the Retail and eCommerce segment to grow at the highest CAGR during the forecast period
The increase in online shopping, the rise in customer preferences, and the high competition among personalized customer experiences are the key factors expected to drive the adoption of SSL certificates in the retail and eCommerce vertical.
Key and innovative vendors in the certificate authority market include IdenTrust (US), DigiCert (US), Sectigo (US), GlobalSign (Belgium), Entrust (US), GoDaddy (US), Certum (Poland), Actalis (Italy), Lets Encrypt (US), SSL.com (US), E-Tugra (Turkey), WISeKey (Switzerland), Trustwave (US), SwissSign (Switzerland), TWCA (China), Buypass (Norway), Camerfirma (Spain), HARICA (Greece), Certigna (France), NETLOCK (Hungary), TÜRKTRUST (Turkey), certSIGN (Romania), Disig (Slovakia), Network Solutions (US), and OneSpan (US).
These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their presence in the certificate authority market. Partnerships, agreements and collaborations, and new product launches have been the most adopted strategies by the major players from 2019 to 2021 to innovate their offerings and broaden their customer base.
IdenTrust, a subsidiary of HID Global, is a public key certificate authority providing digital certificates to financial institutions, healthcare providers, government agencies, and enterprises. As a certificate authority (CA), IdenTrust provides PKI and validation for digital certificates, including TLS/SSL certificates, email security via S/MIME certificates, digital signature certificates, code signing certificates, and x.509 certificates for protecting network and IoT devices. The company specializes in interoperable identity services, managed identity services, managed PKI services, and business SSL certificates.
IdenTrust caters to more than 175 countries. The company has been accepted as an issuer of IGC PIV-I digital certificates for individuals requiring US federal government interoperability. It offers customer support to users via various communication channels, including telephone, emails, and chats. It caters to banks, corporates, governments, as well as the manufacturing and healthcare verticals. IdenTrust has 5.1 million certificates in active production and supports over 18 billion validations per year. IdenTrust operations are managed via personnel located in the primary data center in Salt Lake City, UT. Its office in London, UK, provides relationship management to IdenTrust banking and financial customers located in EMEA. The company has a presence in the US, Europe, and MEA.
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Sectigo (Formerly Comodo CA) is a cybersecurity provider of digital identity solutions, including TLS/SSL certificates, DevOps, IoT, enterprise-grade PKI management, and multi-layered web security solutions. Sectigo provides digital identity solutions to more than 700,000 businesses around the world. Sectigo provides automated public and private PKI solutions to secure web servers, user access, connected devices, and applications for enterprises of all sizes. Sectigo has issued more than 100,000 digital certificates. More than 36% of the Fortune 1000 companies rely on Sectigo solutions. The company has a global reach in nearly 200 countries.
Sectigo has been operating as an independent company since Francisco Partners acquired the business in 2017. The company has over 20 years of experience deploying TLS/SSL certificates PKI management solutions. Its award-winning automated certificate management platform and web security products are available through retail and enterprise channels. It has a network of more than 1,200 partners worldwide.
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