The most recent study conducted by Report Ocean, titled “Global Certificate Authority Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Certificate Authority. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Certificate Authority Market is valued approximately USD 119.48 Million in 2021 and is anticipated to grow with a healthy growth rate of more than 12.3% over the forecast period 2022-2028. The certified authority is an entity that issues digital certificates. A digital certificate endorses the ownership of a public key by the labeled theme of the certificate. Digital certificates add encryption for assuring website protection. The rising number of stringent regulatory standards and data privacy compliances, increasing incidences of HTTPS phishing attacks, growing concerns pertaining to loss of critical data, coupled with the surging adoption of cloud-based and virtualization technologies are the primary factors that are projected to boosts the Market demand around the world.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
For instance, in April 2021, DigiCert launched the company’s new DigiCert Automation Manager- a containerized enterprise solution for on-premises, high-volume TLS certificate automation. However, a lack of awareness among organizations about the significance of SSL certificates is a major challenge before the Market growth. Also, the exponential rise in the adoption of IoT trends across industry verticals is anticipated to act as a catalyzing factor for the Market demand during the forecast period.
The key regions considered for the Global Certificate Authority Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of Market share owing to the execution of stringent data security regulations and compliance and the significant presence of primary certificate authorities. Whereas, Asia-Pacific is also anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as rapid digital transformation, an increasing number of online businesses, as well as increased proliferation of the internet of things (IoT), would create lucrative growth prospects for the Certificate Authority Market across the Asia-Pacific region.
Major Market players included in this report are:
IdenTrust
DigiCert
Sectigo
GlobalSign
Entrust
GoDaddy
Let’s Encrypt
SSL.com
Trustwave
TWCA
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The objective of the study is to define Market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the Market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Component offerings of key players. The detailed segments and sub-segment of the Market are explained below:
By Component:
Certificate Types
Services
By Certificate Types:
SSL Certificates
Secure Email Certificates
Code Signing Certificates
Authentication Certificates
By Services:
Support Services
Implementation and Integration Services
Managed PKI Services
By Organization Size:
Large Size Enterprises
Small and Medium Size Enterprises
By Vertical:
BFSI
Retail and eCommerce
Government and Defense
Healthcare and Life Sciences
IT and Telecom
Travel and Hospitality
Education
Other verticals
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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