Middle East & Africa Public Key Infrastructure Market Forecast to 2030 - Regional Analysis - by Component, Deployment, Enterprise Size, and End User

The Middle East & Africa public key infrastructure market is expected to grow from US$ 276.81 million in 2022 to US$ 876.94 million by 2030. It is estimated to grow at a CAGR of 15.5% from 2022 to 2030.

Increasing Use of Digital Certificates in Various Applications Fuels Middle East & Africa Public Key Infrastructure Market

With the increasing trend of digital certificates, PKI is witnessing a huge adoption in various applications. Digital certificate authentication helps various organizations to ensure that only trusted devices and users are being connected to the networks. Also, digital certificates are widely used in SSL certificates for public-facing websites & services, VPN & private networks, public cloud-based applications, email security, device authentication, enterprise user authentication, document signing, private cloud-based applications, and code signing, among others.

Over the past few years, the rise in cloud applications such as IoT and the growing use of digital certificates have been raising the demand for PKI globally. In addition, the cloud PKI solutions offer a number of benefits, including increased security, lower total cost of ownership (TCO), and easier certificate management. Also, PKI is expected to continue to play a major role in the sales of mobiles to ensure device identity, authentication, and trust anchoring. With the rise in the number of organizations that use certificates for secure mobile connection to Wi-Fi and VPN networks, PKI is implemented to meet the increased demand for the safe, secure transmission of all kinds of data. Thus, the increasing use of digital certificates for various applications is expected to propel the growth of the public key infrastructure market in the coming years.

Middle East & Africa Public Key Infrastructure Market Overview

The MEA public key infrastructure market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. Many companies in the region are adopting and implementing public key infrastructure solutions and services. Also, companies are focused on collaborating to serve public key infrastructure solutions to deliver security solutions to their customers. For instance, in May 2019, CIEL-a Lebanon-based company-and Ubisecure, Inc., announced a strategic business partnership. CIEL distributes security services such as public key infrastructure and Secure Sockets Layer (SSL) to customers across the Middle East & North Africa (MENA) region. A major offering in their portfolio is Ubisecures customer identity & access management and Identity API technology. It allows the amalgamation of security and improved user experience features into customer-facing applications. Further, the partnership would enable CIEL to extend its portfolio to include Ubisecures RapidLEI offering, which is used to automate the Legal Entity Identifier (LEI) application process.

In addition, in Africa, the adoption rate of public key infrastructure technology is low compared to the technologically advanced Middle East, but gradually, the region is adopting public key infrastructure technology for more security. For instance, in July 2019, Ghana established a public key infrastructure information communication technology facility to secure electronic transactions. In Ghana, a US$ 4 million public key infrastructure scheme has been announced to expand digital payments. Furthermore, the rising security concerns with the development of smart workplaces involving tech-savvy international companies in this region is anticipated to be one of the main factors for the deployment of security offerings in the coming years.

Middle East & Africa Public Key Infrastructure Market Segmentation

The Middle East & Africa public key infrastructure market is segmented into component, deployment, enterprise size, end user, and country.

Based on component, the Middle East & Africa public key infrastructure market is segmented into solutions and services. The solutions segment held a larger share of the Middle East & Africa public key infrastructure market in 2022. The services segment is further sub segmented into professional services and managed services.

Based on deployment, the Middle East & Africa public key infrastructure market is segmented into on-premise and cloud. The on-premise segment held a larger share of the Middle East & Africa public key infrastructure market in 2022.

Based on enterprise size, the Middle East & Africa public key infrastructure market is segmented into SMEs and large enterprises. The large enterprises segment held a larger share of the Middle East & Africa public key infrastructure market in 2022.

Based on end user, the Middle East & Africa 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 Middle East & Africa public key infrastructure market in 2022.

Based on country, the Middle East & Africa public key infrastructure market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Saudi Arabia dominated the Middle East & Africa public key infrastructure market in 2022.

Digicert Inc., eMudhra Limited, Entrust Corp, Fortinet Inc., GMO GlobalSign Ltd, and Thales SA are some of the leading companies operating in the Middle East & Africa public key infrastructure market.