NEW YORK, Aug. 12, 2024 /PRNewswire/ -- The global secure sockets layer certification market size is estimated to grow by USD 11.89 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 27.17% during the forecast period. Increasing awareness of end-users is driving market growth, with a trend towards growing number of online transactions. However, use of self-signed certificates poses a challenge. Key market players include Alibaba Group Holding Ltd., AlphaSSL, Aruba Spa, ASSA ABLOY AB, Asseco Poland SA, Comodo Security Solutions Inc., DigiCert Inc., Entrust Corp., GlobalSign Ltd., GoDaddy Inc., Internet Security Research Group, Secom Co. Ltd., Sectigo Ltd., Singapore Telecommunications Ltd., SSL.com, Stack Holdings GmbH, SwissSign AG, Taiwan CA Inc., Tencent Holdings Ltd., and Web.com Group Inc.

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Market Driver

The shift towards e-commerce and mobile wallets for transactions has made data security a top priority. To secure customer confidential information, such as names, contact numbers, and credit card details, e-commerce platforms and mobile wallet providers must use SSL certificates. The global SSL certification market is poised for growth due to this increasing demand. EV SSL certificates, which secure sensitive information from hackers, are particularly important for mobile wallet vendors and e-commerce sites. The convenience of e-commerce and mobile wallets, along with the need for secure transactions, will fuel the growth of the SSL certification market during the forecast period. 

The Secure Sockets Layer (SSL) certification market is experiencing significant growth due to increasing emphasis on confidence and security in various sectors. Healthcare, telemedicine, public services, and IT & Telecom are major industries adopting SSL certificates for secure web services and telecommunications. Automated certificate management and the availability of free SSL certificates from entities like Let's Encrypt simplify implementation. However, certificate management burden and cost considerations remain challenges. SSL certificates are crucial for web service hosts, protecting data transmitted over the internet, wired networks, and wireless networks. Certificate authorities issue these digital certificates, ensuring secure connections using SSL protocol.

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Market Challenges

• Self-signed SSL certificates are digital certificates that are signed by the same entity whose identity they validate. While these certificates are convenient for individual users and Small and Medium Enterprises (SMEs) during server testing, they are not widely accepted by browsers due to security concerns. As a result, users encounter error messages when visiting self-signed certificate-verified websites. These unregulated certificates pose a risk, as compromised websites will still appear secure to end-users. This trend may negatively impact the revenue of the SSL certificate market, as organizations may opt to bypass certificate purchases by using third-party transaction processors like PayPal. The use of self-signed certificates is expected to pose a challenge for Certificate Authorities (CAs) during the forecast period.

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Segment Overview 

This secure sockets layer certification market report extensively covers market segmentation by 

1. Type 
   • 1.1 Domain validation
   • 1.2 Organization validation
   • 1.3 Extended validation
2. End-user 
   • 2.1 Large enterprises
   • 2.2 SMEs
3. Geography 
   • 3.1 North America
   • 3.2 Europe
   • 3.3 APAC
   • 3.4 South America
   • 3.5 Middle East and Africa

1.1 Domain validation- The Secure Sockets Layer (SSL) certification market is growing due to the increasing need for secure online transactions and data protection. SSL certificates authenticate websites and encrypt data, ensuring confidentiality and integrity. Businesses in various industries, particularly e-commerce and finance, invest in SSL certificates to safeguard customer information and comply with regulatory requirements. The SSL certification market is expected to expand as more businesses move their operations online and prioritize cybersecurity.

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The Global Communication Platform-as-a-Service (CPaaS) market is experiencing rapid growth due to increasing demand for integrated communication solutions across industries. CPaaS enables businesses to embed real-time communication features such as voice, video, and messaging into their applications via APIs. Key drivers include the rise of remote work, digital transformation initiatives, and the need for enhanced customer engagement. With major players like Twilio, Vonage, and Sinch leading the market, CPaaS is projected to witness significant expansion, driven by advancements in AI and cloud technology.

Research Analysis

The SSL certificate market plays a crucial role in securing online transactions and protecting sensitive information on the web. Browsers rely on SSL certificates to establish secure connections and encrypt data exchanged between users and website servers. This includes personal information such as credit card numbers, banking information, passwords, email addresses, and other sensitive details. With the increasing use of cloud-based technologies, SSL certificates have become essential for securing data transmitted over wireless networks.

Market Research Overview

The Secure Sockets Layer (SSL) certification market is a critical component of the digital ecosystem, ensuring secure online transactions and data protection for web servers and browsers. SSL certificates safeguard sensitive information such as personal details, credit card numbers, banking information, passwords, email addresses, and other confidential data during online interactions. With the increasing use of cloud-based technologies, mobile app usage, and mobile-friendly websites, SSL certificates have become essential for cloud computing and data security. Government agencies, website owners, and organizations in various sectors including healthcare, telemedicine, public services, e-commerce, online banking, and SMEs, rely on SSL certificates to meet compliance requirements under GDPR and other regulations.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• • Domain Validation
  • Organization Validation
  • Extended Validation
• End-user
• • Large Enterprises
  • SMEs
• Geography
• • North America
  • Europe
  • APAC
  • South America
  • Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio