The global SSL Certificate Market is estimated to be valued at US$ 187 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
SSL certificates secures transmission of sensitive information over an unsecured network by establishing an encrypted link between a web server and a browser. It helps to protect confidential data like credit card numbers, social security number etc. from being exposed to unauthorized parties.
Market key trends:
One of the key trends in the SSL certificate market is the increasing adoption of cloud computing technology. As the adoption of cloud-based services including IaaS, PaaS and SaaS is growing at a significant pace, the demand for SSL certificates to secure the transmission of sensitive data through cloud platforms is also increasing. Majority of organizations today rely on cloud platforms for their computing needs and this growing dependency on cloud is expected to drive the demand for SSL certificates during the forecast period.
Segment Analysis
The global SSL certificate market is segmented on the basis of type, organization size, end-use, and geography. Based on type, the market is segmented into domain validation (DV) certificates, organization validation (OV) certificates, and extended validation (EV) certificates. The extended validation (EV) certificate segment is expected to dominate the market over the forecast period. EV certificates provide highest level of authentication and validation of business entity legally owning or controlling a website.
Key Takeaways
The Global SSL Certificate Market Size is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing demand for authentication and security across websites and web applications.
Regional analysis
North America is expected to dominate the global SSL certificate market over the forecast period. This is attributed to high adoption of digital technologies and presence of major SSL certificate providers in the region. The Asia Pacific region is expected to exhibit fastest growth rate during the forecast period owing to growing e-commerce industry and increasing online transactions in developing economies such as India and China.
Key players
Key players operating in the SSL certificate market are DigiCert Inc., GlobalSign, Comodo CA (now Sectigo), GoDaddy Inc., Entrust Datacard, Thawte, GeoTrust, Symantec (now part of DigiCert), RapidSSL, SSL.com, Network Solutions, Let's Encrypt, IdenTrust, Trustwave Holdings, Buypass AS. DigiCert, Inc. and GoDaddy Inc. are identified as the dominating players in the global SSL certificate market owing to their robust product portfolio and widespread customer base.
Read More: https://www.ukwebwire.com/ssl-certificate-market-size-share-and-growth-forecast-2023-2023/
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