Middle East & Africa Public Key Infrastructure Market Forecast to 2030
Middle East & Africa Public Key Infrastructure Market Forecast to 2030 – Regional Analysis – by Component [Solutions and Services (Professional Services and Managed Services)], Deployment (On-Premise and Cloud), Enterprise Size (SMEs and Large Enterprises), and End User (BFSI, Retail & E-commerce, Government & Defense, IT & Telecom, Manufacturing & Automotive, and Others)
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Description
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 Revenue and Forecast to 2030 (US$ Million)
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.
Summary Info
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According to the Research Team’ research, the Middle East & Africa public key infrastructure market was valued at US$ 276.81 million in 2022 and is expected to reach US$ 876.94 million by 2030, registering a CAGR of 15.5% from 2022 to 2030. Increasing cybersecurity threats across industries and increasing use of digital certificates in various applications are among the critical factors attributed to the Middle East & Africa public key infrastructure market expansion.
The cases of cyberattacks are rising in enterprises as well as government sectors across the globe. the Research Team analysis reported that the number of security incidents across each and every industry increased by 40% in 2017 from 2016. A rise in threats of cyber-attacks in different industries such as BFSI, healthcare, and others, along with growing government regulations are compelling organizations to invest heavily in digital security. Enterprises are becoming increasingly alert to cyber threats. Cybersecurity has already become a critical issue across business, industries, governments, and society; and is expected to continue being a massive issue in the coming years. In the last few years, cyberattacks have affected the ease of conducting business across many industries, including BFSI, healthcare, media & entertainment, and public industries. As per the World Economic Forum, cybersecurity has become a significant challenge for the private as well as public sectors. Such threats are rising the demand for advanced data security solutions, fueling the market growth.
Furthermore, in order to keep the data and device secure, public key infrastructure certificates are used. A public key is a coded value that has both private and public parts, and it enables information to be encrypted and decoded by object or person and operate as a digital certificate. Public key infrastructure certificates are issued by various certificate authorities that create and manage them. The creation of public key infrastructure certificate and its management can be conducted through a management company or in-house. X.509 digital certificates have gained traction in the past few years because they represent identity in a cross-platform. Digital certificates are gaining popularity as they do not need to be publicly trusted or purchased from GeoTrust, Symantec, DigiCert, and other “big box” certificate vendors; they can be issued by an organizations in-house public key infrastructure. Thus, the increasing cases of cybersecurity threats across industries boost the adoption of digital certificates, which drives the market for public key infrastructure.
On the contrary, lack of technically skilled professionals hampers the Middle East & Africa public key infrastructure market.
Based on component, the Middle East & Africa public key infrastructure market is segmented into solutions and services. The solutions segment held 79.3% share of Middle East & Africa public key infrastructure market in 2022, amassing US$ 219.58 million. It is projected to garner US$ 685.95 million by 2030 to expand at 15.3% CAGR during 2022-2030. 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 63.3% share of Middle East & Africa public key infrastructure market in 2022, amassing US$ 175.08 million. It is projected to garner US$ 532.14 million by 2030 to expand at 14.9% CAGR during 2022-2030.
Based on enterprise size, the Middle East & Africa public key infrastructure market is segmented into SMEs and large enterprises. The large enterprises segment held 72.8% share of Middle East & Africa public key infrastructure market in 2022, amassing US$ 201.54 million. It is projected to garner US$ 615.25 million by 2030 to expand at 15.0% CAGR during 2022-2030.
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 33.0% share of Middle East & Africa public key infrastructure market in 2022, amassing US$ 91.25 million. It is projected to garner US$ 276.91 million by 2030 to expand at 14.9% CAGR during 2022-2030.
Based on country, the Middle East & Africa public key infrastructure market has been categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia captured 30.2% share of Middle East & Africa public key infrastructure market in 2022. It was assessed at US$ 83.62 million in 2022 and is likely to hit US$ 271.24 million by 2030, exhibiting a CAGR of 15.8% during 2022-2030.
Key players operating in the Middle East & Africa public key infrastructure market are Digicert Inc., eMudhra Limited, Entrust Corp, Fortinet Inc., GMO GlobalSign Ltd, and Thales SA, among others.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in the Middle East & Africa Public Key Infrastructure Market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Middle East & Africa market trends and outlook coupled with the factors driving the market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution
TABLE OF CONTENTS
1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Middle East & Africa Public Key Infrastructure Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Vendors in the Value Chain:
4.3 Premium Insights
4.3.1 Strengths and Weakness of Public Key Infrastructure
4.3.1.1 Strength
4.3.1.2 Weakness
4.3.2 Blockchain and Public Key Infrastructure
5. Middle East & Africa Public Key Infrastructure Market – Key Industry Dynamics
5.1 Middle East & Africa Public Key Infrastructure Market – Key Industry Dynamics
5.2 Market Drivers
5.2.1 Increasing Cybersecurity Threats Across Industries
5.2.2 Growing Logistics and E-Commerce Sectors
5.2.3 Increasing Number of Connected Devices
5.3 Market Restraints
5.3.1 Lack of Technically Skilled Professionals
5.4 Market Opportunities
5.4.1 Blockchain Integration
5.5 Future Trends
5.5.1 Increasing Use of Digital Certificates in Various Applications
5.6 Impact of Drivers and Restraints:
6. Public Key Infrastructure Market – Middle East & Africa Market Analysis
6.1 Middle East & Africa Public Key Infrastructure Market Revenue (US$ Million), 2022 – 2030
6.2 Middle East & Africa Public Key Infrastructure Market Forecast and Analysis
7. Middle East & Africa Public Key Infrastructure Market Analysis – Component
7.1 Solutions
7.1.1 Overview
7.1.2 Solutions: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million)
7.2 Services
7.2.1 Overview
7.2.2 Services: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million)
7.2.3 Professional Services
7.2.3.1 Overview
7.2.3.2 Professional Services: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million)
7.2.4 Managed Services
7.2.4.1 Overview
7.2.4.2 Managed Services: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million)
8. Middle East & Africa Public Key Infrastructure Market Analysis – Deployment
8.1 On-Premise
8.1.1 Overview
8.1.2 On-Premise: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million)
8.2 Cloud
8.2.1 Overview
8.2.2 Cloud: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million)
9. Middle East & Africa Public Key Infrastructure Market Analysis – Enterprise Size
9.1 SMEs
9.1.1 Overview
9.1.2 SMEs: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million)
9.2 Large Enterprises
9.2.1 Overview
9.2.2 Large Enterprises: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million)
10. Middle East & Africa Public Key Infrastructure Market Analysis – End User
10.1 Banking, Financial Services, & Insurance (BFSI)
10.1.1 Overview
10.1.2 BFSI: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million)
10.2 Retail & e-Commerce
10.2.1 Overview
10.2.2 Retail & e-Commerce: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million)
10.3 Government & Defense
10.3.1 Overview
10.3.2 Government & Defense: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million)
10.4 IT & Telecom
10.4.1 Overview
10.4.2 IT & Telecom: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million)
10.5 Manufacturing & Automotive
10.5.1 Overview
10.5.2 Manufacturing & Automotive: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million)
10.6 Others
10.6.1 Overview
10.6.2 Others: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million)
11. Middle East & Africa Public Key Infrastructure Market – Country Analysis
11.1 Middle East & Africa Public Key Infrastructure Market
11.1.1 Middle East & Africa Public Key Infrastructure Market, by Key Country
11.1.1.1 South Africa: Middle East & Africa Public Key Infrastructure Market – Revenue, and Forecast to 2030 (US$ Million)
11.1.1.1.1 South Africa: Middle East & Africa Public Key Infrastructure Market, by Component
11.1.1.1.2 South Africa: Middle East & Africa Public Key Infrastructure Market, by Deployment
11.1.1.1.3 South Africa: Middle East & Africa Public Key Infrastructure Market, by Enterprise Size
11.1.1.1.4 South Africa: Middle East & Africa Public Key Infrastructure Market, by End User
11.1.1.2 Saudi Arabia: Middle East & Africa Public Key Infrastructure Market – Revenue, and Forecast to 2030 (US$ Million)
11.1.1.2.1 Saudi Arabia: Middle East & Africa Public Key Infrastructure Market, by Component
11.1.1.2.2 Saudi Arabia: Middle East & Africa Public Key Infrastructure Market, by Deployment
11.1.1.2.3 Saudi Arabia: Middle East & Africa Public Key Infrastructure Market, by Enterprise Size
11.1.1.2.4 Saudi Arabia: Middle East & Africa Public Key Infrastructure Market, by End User
11.1.1.3 UAE: Middle East & Africa Public Key Infrastructure Market – Revenue, and Forecast to 2030 (US$ Million)
11.1.1.3.1 UAE: Middle East & Africa Public Key Infrastructure Market, by Component
11.1.1.3.2 UAE: Middle East & Africa Public Key Infrastructure Market, by Deployment
11.1.1.3.3 UAE: Middle East & Africa Public Key Infrastructure Market, by Enterprise Size
11.1.1.3.4 UAE: Middle East & Africa Public Key Infrastructure Market, by End User
11.1.1.4 Rest of MEA: Middle East & Africa Public Key Infrastructure Market – Revenue, and Forecast to 2030 (US$ Million)
11.1.1.4.1 Rest of MEA: Middle East & Africa Public Key Infrastructure Market, by Component
11.1.1.4.2 Rest of MEA: Middle East & Africa Public Key Infrastructure Market, by Deployment
11.1.1.4.3 Rest of MEA: Middle East & Africa Public Key Infrastructure Market, by Enterprise Size
11.1.1.4.4 Rest of MEA: Middle East & Africa Public Key Infrastructure Market, by End User
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
13. Company Profiles
13.1 Digicert Inc.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 eMudhra Limited
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Entrust Corp
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Fortinet Inc.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Thales SA
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 GMO GlobalSign Ltd
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
14. Appendix
14.1 About the Research Team
14.2 Word Index
LIST OF TABLES
Table 1. Middle East & Africa Public Key Infrastructure Market Segmentation
Table 2. Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million)
Table 3. Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million) -Component
Table 4. Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million) – Deployment
Table 5. Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million) – Enterprise Size
Table 6. Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million) – End User
Table 7. South Africa: Middle East & Africa Public Key Infrastructure Market, by Component -Revenue and Forecast to 2030 (US$ Million)
Table 8. South Africa: Middle East & Africa Public Key Infrastructure Market, by Deployment -Revenue and Forecast to 2030 (US$ Million)
Table 9. South Africa: Middle East & Africa Public Key Infrastructure Market, by Enterprise Size -Revenue and Forecast to 2030 (US$ Million)
Table 10. South Africa: Middle East & Africa Public Key Infrastructure Market, by End User -Revenue and Forecast to 2030 (US$ Million)
Table 11. Saudi Arabia: Middle East & Africa Public Key Infrastructure Market, by Component -Revenue and Forecast to 2030 (US$ Million)
Table 12. Saudi Arabia: Middle East & Africa Public Key Infrastructure Market, by Deployment -Revenue and Forecast to 2030 (US$ Million)
Table 13. Saudi Arabia: Middle East & Africa Public Key Infrastructure Market, by Enterprise Size -Revenue and Forecast to 2030 (US$ Million)
Table 14. Saudi Arabia: Middle East & Africa Public Key Infrastructure Market, by End User -Revenue and Forecast to 2030 (US$ Million)
Table 15. UAE: Middle East & Africa Public Key Infrastructure Market, by Component -Revenue and Forecast to 2030 (US$ Million)
Table 16. UAE: Middle East & Africa Public Key Infrastructure Market, by Deployment -Revenue and Forecast to 2030 (US$ Million)
Table 17. UAE: Middle East & Africa Public Key Infrastructure Market, by Enterprise Size -Revenue and Forecast to 2030 (US$ Million)
Table 18. UAE: Middle East & Africa Public Key Infrastructure Market, by End User -Revenue and Forecast to 2030 (US$ Million)
Table 19. Rest of MEA: Middle East & Africa Public Key Infrastructure Market, by Component -Revenue and Forecast to 2030 (US$ Million)
Table 20. Rest of MEA: Middle East & Africa Public Key Infrastructure Market, by Deployment -Revenue and Forecast to 2030 (US$ Million)
Table 21. Rest of MEA: Middle East & Africa Public Key Infrastructure Market, by Enterprise Size -Revenue and Forecast to 2030 (US$ Million)
Table 22. Rest of MEA: Middle East & Africa Public Key Infrastructure Market, by End User -Revenue and Forecast to 2030 (US$ Million)
Table 23. List of Abbreviation
LIST OF FIGURES
Figure 1. Middle East & Africa Public Key Infrastructure Market Segmentation, By Country
Figure 2. Ecosystem: Middle East & Africa Public Key Infrastructure Market
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. Middle East & Africa Public Key Infrastructure Market Revenue (US$ Million), 2022 – 2030
Figure 5. Middle East & Africa Public Key Infrastructure Market Share (%) -Component, 2022 and 2030
Figure 6. Solutions: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast To 2030 (US$ Million)
Figure 7. Services: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast To 2030 (US$ Million)
Figure 8. Professional Services: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast To 2030 (US$ Million)
Figure 9. Managed Services: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast To 2030 (US$ Million)
Figure 10. Middle East & Africa Public Key Infrastructure Market Share (%) – Deployment, 2022 and 2030
Figure 11. On-Premise: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million)
Figure 12. Cloud: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million)
Figure 13. Middle East & Africa Public Key Infrastructure Market Share (%) – Enterprise Size, 2022 and 2030
Figure 14. SMEs: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million)
Figure 15. Large Enterprises: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million)
Figure 16. Middle East & Africa Public Key Infrastructure Market Share (%) – End User, 2022 and 2030
Figure 17. BFSI: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million)
Figure 18. Retail & e-Commerce: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million)
Figure 19. Government & Defense: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million)
Figure 20. IT & Telecom: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million)
Figure 21. Manufacturing & Automotive: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million)
Figure 22. Others: Middle East & Africa Public Key Infrastructure Market Revenue and Forecast to 2030 (US$ Million)
Figure 23. Middle East & Africa Public Key Infrastructure Market, By Key Country – Revenue (2022) (US$ Million)
Figure 24. Middle East & Africa Public Key Infrastructure Market Revenue Share, by Key Country (2022 and 2030)
Figure 25. South Africa: Middle East & Africa Public Key Infrastructure Market – Revenue, and Forecast to 2030 (US$ Million)
Figure 26. Saudi Arabia: Middle East & Africa Public Key Infrastructure Market – Revenue, and Forecast to 2030 (US$ Million)
Figure 27. UAE: Middle East & Africa Public Key Infrastructure Market – Revenue, and Forecast to 2030 (US$ Million)
Figure 28. Rest of MEA: Middle East & Africa Public Key Infrastructure Market – Revenue, and Forecast to 2030 (US$ Million)
The List of Companies – Middle East & Africa Public Key Infrastructure Market
1. Digicert Inc.
2. eMudhra Limited
3. Entrust Corp
4. Fortinet Inc.
5. GMO GlobalSign Ltd
6. Thales SA
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