Certificate Authority Market to Exceed USD 442.2 Million by 2032 Driven by Rising Cybersecurity Needs & Regulations

The Certificate Authority (CA) market has witnessed considerable growth due to the increasing importance of secure digital communication.

AUSTIN, TX, UNITED STATES, January 17, 2025 /EINPresswire.com/ -- The Certificate Authority Market size was USD 167.7 Million in 2023 and is expected to reach USD 442.2 Million by 2032 and grow at a CAGR of 11.4% over the forecast period of 2024-2032.

Government Regulations and Rising Cybersecurity Threats Drive Certificate Authority Market Growth
The global Certificate Authority market is growing rapidly due to stricter government data protection regulations and an increased emphasis on cybersecurity. The EU's GDPR and the U.S. CCPA have amplified demand for secure communications. In 2023, the U.S. NIST reported a 15% rise in demand for encryption services, particularly in healthcare and finance. The surge in cyberattacks, coupled with emerging technologies like IoT, AI, and 5G, further drives the need for digital certificates. Government initiatives, such as India’s Digital India and the EU’s eIDAS, are boosting the adoption of certificate authority services worldwide.

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Keyplayers:
DigiCert (DigiCert SSL Certificates, Certificate Lifecycle Manager)
GlobalSign (GlobalSign SSL Certificates, CloudSSL)
Entrust (Entrust SSL/TLS Certificates, PKI as a Service)
Comodo CA (Positive SSL, Comodo Certificate Manager)
Symantec (Symantec SSL Certificates, Endpoint Protection)
GoDaddy (GoDaddy SSL Certificates, Managed WordPress Hosting)
Sectigo (Sectigo SSL Certificates, Certificate Manager)
Let’s Encrypt (Let’s Encrypt SSL Certificates, ACME Client)
Trustwave (Trustwave SSL Certificates, Managed Security Services)
Amazon Web Services (AWS) (AWS Certificate Manager, AWS CloudFront)

Segment Analysis

By Certificate Validation Type
The Domain Validation segment led the market with the largest revenue share of 46.0% in 2023. Technology advancement, including automation as well as better validation processes, has simplified the issuance and management of domain validation certificates, thus making them much more accessible to an organization.

For instance, in February 2024, Axians Switzerland collaborated with Sectigo to introduce cloud-native Certificate Lifecycle Management (CLM) solutions for their customers.
The Organization Validation segment is anticipated to witness the fastest CAGR during the forecast period. The increasing adoption of mobile applications and the trend of mobile-first by businesses have further increased the demand for OV certificates to secure app communications and transactions. The establishment of a secure connection between mobile apps and backend servers depends on OV certificates, which are very important in preventing unauthorized access and tampering with sensitive data, including user credentials, payment details, and PII.

By Verticals
The BFSI sector represented the largest market share in 2023, contributing 20% of the revenue. With financial institutions increasingly relying on online transactions and digital banking services, the need for strong encryption and secure communication channels has skyrocketed. The adoption of digital certificates in the BFSI sector is driven by stringent regulatory requirements such as the Payment Services Directive 2 (PSD2) and the need to ensure secure customer identification during financial transactions.
The Healthcare segment is expected to grow at the fastest CAGR during the forecast period. Healthcare organizations are increasingly vulnerable to cybersecurity threats because of the adoption of electronic health records and telemedicine platforms. The use of SSL/TLS certificates is essential for compliance with regulations such as HIPAA, protection of patient privacy, and securing medical records.

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Key Regional Developments
In 2023, North America emerged as the dominant region for the Certificate Authority market, accounting for a revenue share of 38%. The U.S. leads the market within the region, driven by a robust IT infrastructure, high cloud adoption rates, and a strong regulatory environment focused on cybersecurity. The U.S. Department of Homeland Security reported a 25% increase in the adoption of Public Key Infrastructure (PKI) solutions among federal agencies in 2023.
The Asia Pacific (APAC) region is expected to experience the fastest growth rate during the forecast period. The region’s rapid digitalization, coupled with government initiatives like India’s Digital India program and China’s push for improved cybersecurity, is driving the demand for digital certificates. The digital initiatives in emerging economies, along with an expanding digital economy, are set to propel the Certificate Authority market in APAC.

Recent Developments
In January 2023, DigiCert introduced Trust Lifecycle Manager, a solution that integrates certificate management services, allowing organizations to automate the issuance, renewal, and lifecycle management of digital certificates while ensuring enhanced security.
In March 2023, GlobalSign formed a technology partnership with essendi, focusing on integrating Essendi xc with GlobalSign’s Atlas certificate platform to further streamline certificate management and enhance digital trust across multiple industries.

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