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Certificate Authority Market Growth, Opportunities Business Scenario, Share, Growth Size, Scope, Key Segments and Forecast to 2028

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Certificate Authority Market Growth, Opportunities Business Scenario, Share, Growth Size, Scope, Key Segments and Forecast to 2028

August 22
02:35 2023
Certificate Authority Market Growth, Opportunities Business Scenario, Share, Growth Size, Scope, Key Segments and Forecast to 2028
Sectigo (US), Digicert (US), GlobalSign (Belgium), GoDaddy (US), IdenTrust (US), Entrust (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).
Certificate Authority Market by Offering (Certificate Types, Services), SSL Certificate Validation Type ( Domain Validation, Organization Validation, Extended Validation), Organization Size, Vertical, and Region – Global Forecast to 2028

The global certificate authority market size is projected to grow from USD 167 million in 2023 to USD 282 million by 2028 at a Compound Annual Growth Rate (CAGR) of 11.0% during the forecast period. Stringent regulatory standards and data privacy compliances are propelling the expansion of the certificate authority market.

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Based on offerings, the services segment is expected to grow at higher CAGR during the forecasted period.

Certificate authority services are the support offered by vendors to assist their customers with the efficient use and operation of certificates. 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. Services associated with certificate authorities contribute to enhanced user experience by providing secure and seamless digital interactions. SSL/TLS certificates, for example, display padlock icons or green address bars in web browsers, indicating a secure connection, which instills trust in users and encourages them to engage with online services.Technological advancements, such as quantum computing and blockchain, present new challenges and opportunities in the field of digital security. Certificate authorities are evolving their services to address these emerging technologies, including developing quantum-resistant encryption algorithms and providing blockchain-based certificate management solutions.

By SSL certificate validation type, the domain validation segment to hold a larger market size during the forecast period

Domain validation offers organizations an economical, quick, and easy-to-implement option for securing their websites. Domain validated, and fully automated validation type enables users to start protecting their eCommerce, logins, webmail, blog visitors, and more within a few minutes. It is one of the fastest and most affordable ways to activate SSL protection for the website. Various industry standards and best practices, such as those set by the Payment Card Industry Data Security Standard (PCI DSS) or the General Data Protection Regulation (GDPR), require the use of SSL/TLS certificates for secure data transmission. In such cases domain validation certificates help organizations meet these compliance requirements in a cost-effective manner.

Government regulations and the imperative for compliance have also played a significant role in driving the adoption of certificate authority solutions and services as businesses strive to meet security requirements and protect sensitive data. Additionally, the proliferation of cloud-based and virtualization technologies increases the demand for certificate authority. Together, these factors form a powerful force behind the growth and advancement of the certificate authority market.

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What is certificate authority?

A certificate authority is a trusted entity that issues digital certificates that are verifiable small data files that contain identity credentials to help websites, people, and devices represent their authentic online identity. Certificate authorities are a critical part of the Internet’s Public Key Infrastructure (PKI), and they play a major role in Internet operations by issuing Secure Sockets Layer (SSL) certificates. Web browsers use these certificates to authenticate content sent from web servers.

Unique Features in Certificate Authority Market:

Unique characteristics necessary for enabling secure online interactions and building trust on the internet were present in the Certificate Authority (CA) sector. To increase online security and trust, these bodies distributed digital certificates that verified the identities of individuals and websites. They played a crucial role in the Public Key Infrastructure (PKI) system, which was in charge of managing, confirming, and revokeing digital certificates.

To prevent fraudulent certificate issuing, Certificate Authorities carried out rigorous validation procedures. They were crucial in providing SSL/TLS certificates that protected sensitive data during online transactions by encrypting data transmission. The root and intermediate certificates in the CAs’ hierarchical structure created trust chains that established the veracity of digital certificates.

The entire hierarchy of secure communication is supported by root certificates, which are owned by well-known CAs. To accommodate various use cases, CAs supplied a variety of certificate validation levels, from domain validation (DV) to extended validation (EV). Additionally, they offered wildcard and multi-domain certificates, giving customers the freedom to secure numerous domains and subdomains with a single certificate.

Some CAs took involved in attempts to increase accountability and openness in certificate issuance. By enabling the withdrawal of compromised or expired certificates, revocation services played a crucial role in preserving the PKI ecosystem’s integrity. The security and privacy of digital certificate issuance and maintenance were maintained by adherence to industry norms and legislation.

Major Highlights of the Certificate Authority Market:

Major developments that were altering online security and digital trust were on display in the Certificate Authority (CA) sector. By issuing and certifying digital certificates, these authority played a crucial part in building confidence by confirming the identities of websites, people, and other entities. Through SSL/TLS certificates, which encrypt data flows and protect critical information, they ensured secure internet communication.

CAs served as the foundation for secure digital interactions and were an essential part of the Public Key Infrastructure (PKI) system. A hierarchical structure involving root and intermediate certificates created trust chains, preventing fake certificates, while rigorous identity validation procedures validated the validity of digital certificates.

The entire secure communication structure was anchored by widely used root certificates that functioned as trust anchors. Different validation levels were supplied by CAs, ranging from domain validation (DV) to extended validation (EV) certificates, to improve identity assurance for various uses. Wildcard and multi-domain certificates, which enable the security of several domains and subdomains with a single certificate, provide flexibility.

Participation in projects to increase certificate openness improved certificate issuance’s transparency and accountability. By allowing the removal of compromised or expired certificates, revocation services were crucial for preserving the PKI ecosystem’s integrity. The management and issuing of digital certificates met security and privacy criteria thanks to adherence to industry standards and laws.

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Competitive overview:

The certificate authority market is led by some of the globally established players, such as Sectigo (US), DigiCert (US), GlobalSign (Belgium), GoDaddy (US), IdenTrust (US), Certum (Poland). Partnerships, agreements, collaborations, acquisitions, and product developments are some of the various growth strategies by these players to increase their market presence.

Sectigo is a cybersecurity provider of digital identity solutions, including TLS/SSL certificates, DevOps, IoT, enterprise-grade PKI management, and multi-layered web security solutions. Many of the largest companies in the world rely on Sectigo as a leading supplier of automated Certificate Lifecycle Management (CLM) and digital certificates. To protect every computer and human identity throughout the company, its cloud-based universal CLM platform issues and maintains the lifecycles of digital certificates issued by Sectigo and other Certificate Authorities (CAs).

700,000 businesses around the world use Sectigo digital solutions. 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 Fortune 1000 companies rely on Sectigo solutions. The company has a global reach in nearly 200 countries.

GlobalSign is an identity services company offering cloud-based PKI solutions for enterprises to conduct secured content delivery. Small businesses, large enterprises, cloud-based service providers, and IoT innovators worldwide use GlobalSign’s identity and security solutions to conduct secure communications, manage millions of verified digital identities and automate authentication and encryption. Its managed SSL/TSL services offer tools, services and SSL products to secure internal and public servers, respond to threats, and control SSL costs. It includes SSL/TLS, digital signatures, secure email, code signing, and authentications. The company also offers Atlas, a high-availability, high-throughput Certificate Authority (CA), enabling automation and streamlining digital certificate usage by enterprises and organizations.

IdenTrust offers the most trusted & secure digital certificates used for digital signing, secure access & email encryption across a variety of industries. IdenTrust, part of HID Global, is a leading digital certificate provider that establishes the basis for trusted identity solutions. As a certificate authority, IdenTrust provides 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. An encrypted connection is created using IdenTrust TLS/SSL certificates between a user’s machine or browser and a server or website.  Online transactions may be carried out with total trust thanks to this connection’s protection of sensitive data from interception by unauthorized parties while it is in transit. Moreover, IdenTrust also issues An IdenTrust Secure Email (S/MIME) certificate used to confirm email addresses and sign and encrypt email communications.

According to MnM’s approach to evaluating the market, most businesses use organic and inorganic growth tactics to hold onto their market share. In 2020–2022, transactions rose by 50–60%. Alliances, acquisitions, collaborations, and partnerships together are covered in these agreements. Organizations are anticipated to embrace organic growth strategies starting in 2022 to provide end consumers with certificate authority solutions, which would assist businesses in boosting market revenue.

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