Public Key Infrastructure Market Size

Public Key Infrastructure Market size is anticipated to surpass USD 230 Billion by the end of 2035, growing at a CAGR of 24% during the forecast period i.e., 2023 – 2035. In the year 2022, the industry size of public key infrastructure was USD 5 Billion. Companies nowadays are highly using technologically developed solutions such as cloud storage, visualization, and organization mobility. These developments have aided companies to work better in real-time as their offer accessibility to company data via virtual and cloud storage in mobile devices. However, this accessibility of data on mobile devices has also promoted the prevalence of data loss and risk concerns as a result driving the adoption of public key infrastructure. In a survey, 70% of respondents said that their organization's cloud security, IT operations, and developers do not align with security policies.  

The rapid use of public-key infrastructure solutions is being fuelled by the rising market need to lower the cost of verification and boost consumer & seller confidence in numerous sectors like healthcare, banking, and e-commerce. Nowadays, a lot of cyber-crimes are taking place that has reduced the trust of consumers over sellers especially those who are dealing online, thus increasing the demand for public key infrastructure.