PUBLISHER: Grand View Research | PRODUCT CODE: 1493410
PUBLISHER: Grand View Research | PRODUCT CODE: 1493410
The global certificate authority market size is anticipated to reach USD 401.4 million by 2030 and is projected to grow at a CAGR of 13.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. Advancements in technologies such as cloud computing, mobile computing, and blockchain have created new opportunities and challenges for securing digital communications. Certificate authorities (CAs) are adapting to these changes by offering innovative solutions tailored to the needs of modern IT infrastructures.
The growing demand for e-commerce propels the need for SSL/TLS certificates crucial in securing online transactions. Enhanced Validation (EV) certificates, with severe identity verification processes, are favored by e-commerce platforms seeking to instill trust in customers. The e-commerce landscape, including e-commerce and omni-channel retailing, boosts innovation toward multi-domain and mobile-friendly certificate solutions. According to the FIS Global Payment Report 2023, e-commerce witnessed a growth of 10% YoY from 2021 to 2022, and it is anticipated to grow at the fastest CAGR of 9% from 2022 to 2026. With the increasing use of digital payments for e-commerce, companies are adopting certifications to ensure secure transactions and protect their customers' personal data.
Governments worldwide introduce regulations and standards to secure digital communications and protect user privacy. Initiatives such as the European Union's General Data Protection Regulation (GDPR), California Consumer Privacy Act (CCPA), and various industry-specific regulations (e.g., HIPAA, PCI DSS) impose strict requirements for data protection and secure communication. CAs play a crucial role in helping organizations comply with these regulations by providing SSL/TLS certificates and other cryptographic solutions for encrypting data in transit and authenticating websites and online services.