Public Key Infrastructure (PKI) Market Size Worth $ 19,657.5 Million By 2032 | CAGR: 20.6%

Public Key Infrastructure (PKI) Market Size Worth $ 19,657.5 Million By 2032 | CAGR: 20.6%

The global public key infrastructure (PKI) market size is expected to reach USD 19,657.5 million by 2032, according to a new study by Polaris Market Research. The report “Public Key Infrastructure (PKI) Market Share, Size, Trends, Industry Analysis Report, By Component; By Deployment Type; By End-Use (BFSI, IT & Telecommunication, Government & Defense, Retail & E-commerce, Healthcare, Manufacturing, Others); By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The rise in malware and file-based attacks has significantly influenced the demand for PKI. Cybercriminals are becoming more sophisticated, targeting organizations of all sizes and industries. PKI helps mitigate these threats by providing secure mechanisms for authentication and encryption, preventing unauthorized access to networks and systems.

The adoption of IoT and cloud trends has also fueled the growth of the PKI market. As more devices and services are connected to the internet, there is a greater need for secure communication and data protection. PKI enables secure authentication, communication between devices and cloud platforms, and data encryption, ensuring the confidentiality and integrity of IoT and cloud-based transactions.

Moreover, concerns regarding the loss of critical data and the exponential growth of business data volume have contributed to the increased adoption of PKI. Organizations must protect their data from breaches, unauthorized access, and tampering. PKI offers encryption and digital signature capabilities that ensure data confidentiality, integrity, and non-repudiation, enhancing overall data security.

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The cloud-based PKI solutions are increasingly adopted as organizations migrate their infrastructure to the cloud. This allows for scalable and flexible management of digital certificates and cryptographic operations. Additionally, a rising focus on IoT security drives the demand for PKI solutions tailored to secure IoT devices, enable device authentication, secure communication, and data encryption. Integrating PKI with blockchain technology is also gaining traction, enhancing the security and trustworthiness of blockchain networks. Mobile PKI solutions are on the rise to support secure access, encrypted communication, and digital signatures on mobile devices. Furthermore, hybrid PKI solutions that combine on-premises and cloud-based deployments offer a balance between security and flexibility.

Furthermore, government regulations and compliance requirements related to data security have propelled the demand for PKI. Many industries, such as finance, healthcare, and government sectors, have specific compliance frameworks that mandate using PKI for secure communication, digital signatures, and encryption.

Public Key Infrastructure (PKI) Market Report Highlights

  • Cloud segment is expected to hold the largest share of the market due to rising the adoption of cloud-based PKI, which enhances data security and secures information which shares through digital platform.
  • BFSI segment is anticipated to hold largest market shares throughout the forecast period due to adoption of PKI in banking services because it provides security and integrates with existing banking system.
  • North America is accounted to hold the largest market revenue shares and will continue its significant growth over the forecast period due to digital transformation, regulations, and the need for strong cybersecurity across banking, healthcare, government, and e-commerce sectors.
  • The global key market players include Airbus S.A.S., Amazon Web Service, Ascertia, Comodo Group, DigiCert, Docusign, Enigma, Entrust Datacard, Google, HID Global, IBM, Lexmark international, Microsoft, Nexus Group, Signix, Thales, Verisign.

Polaris Market Research has segmented the Public Key Infrastructure (PKI) market report based on component, deployment type, end-use, and region:

Public Key Infrastructure (PKI), Component Outlook (Revenue - USD Million, 2019 - 2032)

  • Public Key
  • Private Key
  • Certificate Authority
  • Certificate Store
  • Certificate Revocation List
  • Hardware Security Module

Public Key Infrastructure (PKI), Deployment Type Outlook (Revenue - USD Million, 2019 - 2032)

  • Cloud
  • On-Premises

Public Key Infrastructure (PKI), End-Use Outlook (Revenue - USD Million, 2019 - 2032)

  • BFSI
  • IT & Telecommunication
  • Government & Defence
  • Retail & E-commerce
  • Healthcare
  • Manufacturing
  • Others

Public Key Infrastructure (PKI), Regional Outlook (Revenue - USD Million, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Public Key Infrastructure (PKI) Market Report Scope

Report Attributes


Market size value in 2023

USD 3648.0 million

Revenue forecast in 2032

USD 19657.5 million


20.6% from 2023 – 2032

Base year


Historical data

2019 – 2021

Forecast period

2023 – 2032

Quantitative units

Revenue in USD million and CAGR from 2023 to 2032

Segments Covered

By Component, By Deployment Type, By End-Use, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key Companies

Airbus S.A.S., Amazon Web Service, Ascertia, Comodo Group, DigiCert, Docusign, Enigma, Entrust Datacard, Google, HID Global, IBM, Lexmark international, Microsoft, Nexus Group, Signix, Thales, Verisign.

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  • Regional analysis
  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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