While cyber security envisages a more comprehensive approach to securing the overall digital ecosystem, data security is more focused on securing the data the digital ecosystem generates and stores by rolling out various primary protection layers. Putting a strong emphasis on encryption, access controls, data categorisation, and data masking; data security ensures that the data remains secure continuously.

Zero trust architecture (ZTA)

Technologies such as Artificial Intelligence (AI) and Machine Learning (ML) are empowering data-centric security solutions to predict threat identification and response. These technologies examine vast data volumes to uncover patterns and variations, helping detect zero-day threats and complex attacks. Further, the adoption of Zero Trust Architecture (ZTA) is altering data security strategies. ZTA implies no inherent confidence within or beyond the network boundary, necessitating stringent authentication and permission for all users and devices. This method adheres to the data-centric idea of limiting data exposure to only authorised entities. These factors would further drive the public key infrastructure (PKI) market during the forecast period.

Demand for data-centric solutions helps drive PKI market

A huge amount of data collected and processed necessitates a scalable security solution. Data security is centred on data protection, providing an adaptive strategy that corresponds with the growing volumes of data and personal information being processed by organisations. Big data and private data have enormous value for businesses in terms of insights, analytics, and consumer knowledge. Businesses can confidently leverage the opportunity of big data and personal information by implementing data-centric security solutions, without exposing themselves to the dangers associated with data breaches, unauthorised access, and privacy violations. The use of this strategy aims to promote innovation and develop a culture of trust among consumers, partners, and stakeholders. These factors would further drive the public key infrastructure (PKI) market during the forecast period.

Summary of the facts and figures:

• The solutions segment dominated the global market revenue, with a market share of over 53% in 2024. The segment growth can be attributed to the increasing concerns about data protection and the widespread technological transition which significantly boosts demand for security solutions.

• The on-premises segment accounted for the largest market share in 2024. Several large organisations, especially those with stringent governance standards, those operating in highly regulated industries, and those storing and processing critical data, prefer having complete control over their solutions, data assets, and upgrades to ensure an optimum level of data security.

• The large enterprises segment accounted for the highest market share in 2024. With large organisations adopting hybrid working models, the growing use of personal devices and anonymous networks to access corporate data is posing a high-security risk to large organisations, which is expected to drive the adoption of data security solutions among large enterprises over the forecast period.

• The web browsing security segment accounted for the highest market share in 2024.

• The BFSI segment accounted for the highest market share in 2024. The segment growth can be attributed to the growing concerns related to the unauthorised access and data theft faced by financial institutions and the growing penetration of the internet in emerging economies that enable secure financial transactions.

Major players

Some of the key players operating in the public key infrastructure market and cited by the research include, Amazon Web Services, Inc., Appview X, Digicert, Inc., Emudhra, HID Global Corporation, Appview X, and Google, among others to broaden their product offering, companies are utilising a variety of inorganic growth tactics, such as regular mergers acquisitions, and partnerships.