NEW YORK, Nov. 5, 2015 /PRNewswire/ -- Summary
The explosion of connected devices and Internet of Things (IoT), and the emergence of new applications have led to the generation of a huge amount of data. Digital transactions are also increasing, and authenticating two entities before exchanging data is a necessity.
Furthermore, recent breaches have shown that data should be enciphered while being exchanged or stored to avoid potential threats and cyber attacks. As a result, public key infrastructure (PKI) appears as a relevant solution to create confidence and trust. PKI providers have extended their associated services to better answer clients' demands. Moreover, different pricing models are available and PKI platforms are scalable to facilitate the integration and the support of new devices, operating systems,
and new applications.
However, digital transformation is gaining momentum and many alternatives are already available. Blockchain is a new way to design services. The innovative algorithm makes the deployment of new authentication and validation process easy.
As a result, revenue generated by the PKI technology could be impacted by the emergence of disruptive services and innovative start-up companies. Additionally, regions that are not using PKI significantly could be attracted to directly adopt these new services to decrease dependence on third parties and certificate authorities. This approach simplifies the value chain, and also decreases the price for authentication, verification, and validation of the digital transaction and associated identity.
This analysis will answer the following questions for a global audience:
- What are the major privacy concerns?
- How can PKI technology be used to address the major privacy concerns?
- What is the next phase of market evolution and its impact on PKI technologies?
According to Frost & Sullivan, the global public key infrastructure (PKI) market will generate a revenue of € million in 2020, experiencing a CAGR (2014–2020) of %. The forecast is based on a conservative scenario, but it is clear that conditions are positive for significant market deployment.
PKI market revenue will continue to be generated by the government and the financial verticals; more than % of the revenue will come from these verticals in 2015.
Europe, the Middle East, and Africa (EMEA) region is the biggest PKI market revenue generator followed by North America. These two regions represent more than % of the global revenue in 2015.
The emergence of cloud-based PKI solution has created new interest in the market. Existing or future clients are particularly interested in a cloud-based technology that will add more flexibility to the overall PKI solution. In addition, the total cost of ownership of a cloud-based solution is lower than that of a traditional standalone solution. But this alternative could also offer a PKI on-demand model—organisations could have access to the latest PKI services (with fast, easy, and flexible deployment) that perfectly fit their business requirements.
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