Growing Logistics and E-Commerce Sectors Fuels Europe Public Key Infrastructure Market
The growth in consumer disposable income, changes in their lifestyle, and purchasing patterns have contributed to a rise in sales of online goods and products. Consumers prefer to shop online as the shopping platforms offer a selection from an enormous range of products and save time and money compared to brick-and-mortar stores. In addition, the rise in the penetration of the internet and smartphones drives the e-commerce industry. Also, the growth in the e-commerce industry is contributing to increased transportation of goods, leading to the expansion of the logistics sector. As logistic companies transfer goods from one place to another, they consist of various consumer data, including online transaction information. In order to protect this data, logistics companies use public key infrastructure, such as regular key rotation and current cryptographic standards, raising the demand for public key infrastructure solutions in the logistics industry.Furthermore, the nature of online transactions has changed rapidly over time with advancements in technology. The e-commerce industry has witnessed rapid growth across the globe, which has raised the need for the security of data on the e-commerce platform. Confidentiality, integrity, and non-repudiation are essential components of data security. Data encryption technology has drawn tremendous interest as an active security defense technique since it offers cost-effective and strong information security protection. Moreover, in the age of big data, it is challenging to play a security function using conventional data encryption techniques and Internet protocols, which is raising the demand for public key infrastructure solutions. Combining encryption technology with the public key technology of SSL protocol (Secure Sockets Layer Protocol) and SET protocol (Secure Electronic Transaction) can help improve communication confidentiality and transaction credibility of e-commerce platforms. This advancement improves the security defense capability of the e-commerce and logistics sectors through a higher encryption level. Thus, growing logistics and e-commerce sectors boost the growth of the public key infrastructure market.
Europe Public Key Infrastructure Market Overview
The Europe public key infrastructure market is segmented into Germany, France, Spain, the UK, Italy, and the Rest of Europe. The rising demand for information security solutions is broadly acknowledged in Europe. According to the AAG IT Services, in 2022, 39% of UK businesses experienced a cyberattack. This cybercrime cost UK businesses an average of ~US$ 5,064.44 in 2021. The most common cyber threat faced by these businesses is phishing (83% of identified attacks). Similarly, in 2022, 72.6% of German organizations suffered at least one cyberattack. To address these cyber-attack challenges, the region is adopting security solutions and focusing on the implementation of advanced technology, such as public key infrastructure. Technology is opening whole new opportunities, with new solutions and services which are becoming integral parts of daily lives. Hence, the region is focusing on accelerating the efforts to strengthen cybersecurity.Many well-known public key infrastructure solutions providers are present in Europe and are focusing on offering efficient public key infrastructure solutions to their customers. The larger firms are adopting the strategy of acquiring and collaborating with various companies to enhance their capabilities and expand their footprint in Europe. This type of strategy allows companies to strengthen their footprint in the European market and also their brand name. For instance, in January 2019, DigiCert, Inc., a provider of public key infrastructure solutions, acquired QuoVadis Group, a Swiss-based cybersecurity and IoT Company. DigiCert, Inc. would operate the QuoVadis group as an EU and Swiss trust service provider as well as enterprise-managed public key infrastructure services. The acquisition would enable DigiCert, Inc. to provide robust public key infrastructure-based solutions in Europe. Furthermore, companies are spending in the public key infrastructure market to increase overall productivity. This allows public key infrastructure solution and service providers to focus on their core capabilities and give their full potential on developing the advanced solution, fueling the growth in the market in the region.
Europe Public Key Infrastructure Market Segmentation
The Europe public key infrastructure market is segmented into component, deployment, enterprise size, end user, and country.Based on component, the Europe public key infrastructure market is segmented into solutions and services. The solutions segment held a larger share of the Europe public key infrastructure market in 2022. The services segment is further sub segmented into professional services and managed services.
Based on deployment, the Europe public key infrastructure market is segmented into on-premise and cloud. The on-premise segment held a larger share of the Europe public key infrastructure market in 2022.
Based on enterprise size, the Europe public key infrastructure market is segmented into SMEs and large enterprises. The large enterprises segment held a larger share of the Europe public key infrastructure market in 2022.
Based on end user, the Europe public key infrastructure market is segmented into BFSI, retail & e-commerce, government & defense, IT & telecom, manufacturing & automotive, and others. The BFSI segment held the largest share of the Europe public key infrastructure market in 2022.
Based on country, the Europe public key infrastructure market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Germany dominated the Europe public key infrastructure market in 2022.
Digicert Inc., ENIGMA Systemy Ochrony Informacji SP. Z O.O., Entrust Corp, Fortinet Inc., Futurex LP, GMO GlobalSign Ltd, Sectigo Ltd, and Thales SA are some of the leading companies operating in the Europe public key infrastructure market.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Digicert Inc.
- ENIGMA Systemy Ochrony Informacji SP. Z O.O.
- Entrust Corp
- Fortinet Inc.
- Futurex LP
- GMO GlobalSign Ltd
- Sectigo Ltd
- Thales SA
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 93 |
Published | March 2024 |
Forecast Period | 2022 - 2030 |
Estimated Market Value in 2022 | 891.21 Million |
Forecasted Market Value by 2030 | 3021.33 Million |
Compound Annual Growth Rate | 16.5% |
Regions Covered | Europe |