What Is The Current and Historic Market Size Analysis Of The Certificate Lifecycle Management Software Market?
The certificate lifecycle management software market has seen considerable growth due to a variety of factors.
• The market size for certificate lifecycle management software has experienced swift expansion in the past few years. Expected to rise from $4.42 billion in 2024 to $5.25 billion in 2025, this represents a compound annual growth rate (CAGR) of 19.0%.
The surge in growth during the historical period is linked to increases in complicated and risk-infused digital identities, secure communication necessities, preventive measures against certificate expirations, automated certificate generation processes, and on-premises solutions.
What Are The Predictions for The Certificate Lifecycle Management Software Market in the Coming Years?
The certificate lifecycle management software market is expected to maintain its strong growth trajectory in upcoming years.
• The market for certificate lifecycle management software is projected to undergo swift expansion in the coming years, reaching a value of $10.42 billion by 2029, growing at a compound annual growth rate (CAGR) of 18.7%.
The forecasted growth can be linked to the growing utilization of IoT devices, the increasing complexity of cyber threats, a shift towards zero trust security models, emphasis on compliance and data privacy laws, and a surge in the demand for identity and access management (IAM) solutions. Key trends for this period include the mounting adoption of cloud-based strategies, heightened attention to regulatory compliance, the application of AI and ML to detect threats, the growth of IoT requiring thorough management, an upswing in demand for hybrid deployment models, and the focus on user-friendly interfaces for simplified processes.
Which Drivers Are Accelerating Growth In The Certificate Lifecycle Management Software Market?
The certificate lifecycle management software market is predicted to expand due to the growing acceptance of cloud computing. Cloud computing involves using, managing and accessing services, applications or resources over the internet, with remote servers and computing infrastructure managed by third-party providers. The surge in the use of cloud-based solutions is tied to their benefits such as scalability, security, and ease of access for businesses. Certificate lifecycle management software aids in the seamless deployment of digital certificates and ensures efficient provisioning in various cloud environments when needed. For example, in December 2023, Eurostat, an intergovernmental organization based in Luxembourg, stated that 45.2% of EU businesses procured cloud computing services, primarily for their email systems and electronic file storage. In 2023, the acquisition of cloud computing services by EU businesses rose by 4.2% compared to 2021. Hence, the escalating adoption of cloud computing is fuelling the expansion of the certificate lifecycle management software market.
What Are The Core Segments Of The Global Certificate Lifecycle Management Software Market?
The certificate lifecycle management software market covered in this report is segmented –
1) By Certificate Type: Secure Sockets Layer (SSL) Or Transport Layer Security (TLS) Certificates, Code Signing Certificates, Email Certificates, Client Certificates
2) By Deployment Model: On-Premises, Cloud-Based
3) By Application: Large Enterprises, Small And Medium-Sized Enterprises
4) By Vertical Industry: Finance, Healthcare, Government, Information Technology (IT) and Telecom, Manufacturing
Subsegments:
1) By Secure Sockets Layer (SSL) Or Transport Layer Security (TLS) Certificates: Domain Validated (DV) SSL Or TLS Certificates, Organization Validated (OV) SSL Or TLS Certificates, Extended Validation (EV) SSL Or TLS Certificates
2) By Code Signing Certificates: Individual Code Signing Certificates, Enterprise Code Signing Certificates
3) By Email Certificates: Secure Or Encrypted Email Certificates (S Or MIME), Digital Signature Email Certificates
4) By Client Certificates: Authentication Certificates, Identity And Access Management (IAM) Certificates
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What New Trends Are Influencing The Certificate Lifecycle Management Software Market?
Leading firms in the certificate lifecycle management software market are focusing on advanced technological evolution, such as automated certificate lifecycle management tools, in order to gain competitive leverage in the industry. An automated certificate lifecycle management tool is a comprehensive suite of software or set of tools designed to automate and simplify digital certificates management within a business ecosystem. In a notable development in October 2023, AppViewX, an American software company, introduced AppViewX KUBE+, an automated certificate lifecycle management service tailored for the Kubernetes environment. It delivers comprehensive certificate visibility, extensive automation, and policy control, thereby simplifying the management of certificate lifecycle and securing containerized workloads on a large scale, while facilitating DevOps' speed and agility. It helps in minimizing application outages, service disruptions, as well as addressing security and compliance issues by facing the operational and security complexities laid down by certificate management in intricate Kubernetes environments.
Who Are the Key Players In The Certificate Lifecycle Management Software Market?
Major companies operating in the certificate lifecycle management software market are:
• Red Hat Inc.
• Micro Focus International plc
• ManageEngine
• Entrust Corporation
• CyberArk Software Ltd.
• HashiCorp Inc.
• DigiCert Inc.
• Nexus AG
• Trustwave Holdings Inc.
• GlobalSign Inc.
• AppViewX Inc.
• Venafi Inc.
• One Identity LLC
• Censys Inc.
• Sectigo Limited
• Futurex LP
• Keyfactor LLC
• PKWARE Inc.
• Ubisecure Oy
• QuoVadis Limited
• PrimeKey Solutions AB
• Xolphin B.V.
• Versasec AB
What Are The Regional Insights Into The Certificate Lifecycle Management Software Market?
North America was the largest region in the certificate lifecycle management software market in 2024. The regions covered in the certificate lifecycle management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
