SSL certification in the US: Key market research findings
- Increasing demand for improved Google ranking augments the demand for SSL certification
- Large enterprises account for a majority of the market’s revenue
- Key vendors – Comodo, DigiCert, Entrust Datacard, GlobalSign, GoDaddy, and Symantec
Technavio’s market research analysts predict the SSL certification market in the US to grow at a CAGR of over 24% between 2016 and 2020. The market’s growth is augmented by the increasing need to boost website rankings on Google. In the US, 80% of the consumers tend to trust secured socket layer (SSL)-protected websites. Organizations using Search, Gmail, and Google Drive have a secure connection with Google. The different types of SSL certificates are single, multi-domain, and wildcard. Each certificate has different features and applications.
The new market research report from Technavio presents a breakdown and analysis of SSL segments based on the end user.
“Of late, there has been an increase in the demand for SSL certification in retail and banking, financial services, and insurance (BFSI) sectors. With the growing use of the e-commerce platforms by retail stores, the use of SSL certification is becoming mandatory for maintaining the credibility and legitimacy of websites. Extended validation (EV) SSL certificates are used in the retail and BFSI sectors for secure financial transactions and to assure customers about the level of security offered compared to familiar brands that are already established online,” says Amrita Choudhury, Lead Analyst, ICT, Technavio Research.
By 2020, the large enterprises segment is expected to account for more than 46% of the overall market share. Increasing usage of the Internet for many purposes such as Outlook Web Access and cloud-based computing platforms in large enterprises is the primary driving force behind the growth of the SSL certification market in the US. Large enterprises require a high level of security and are generally not cost-conscious. Organization validation (OV) SSL and EV SSL are two of the most commonly used certificates among large enterprises. E-commerce enterprises and enterprises in the BFSI sector account for a majority of the revenue generated from SSL certificates for large enterprises.
The key vendors in the market include Comodo, DigiCert, Entrust Datacard, GlobalSign, GoDaddy, and Symantec. The SSL market in the US appears fragmented due to the presence of several small regional vendors and established multinational vendors. The expected increase in service and product extensions, technological innovations, and M&A will intensify the level of vendor competition in the market. The vendor’s focus on the expansion of their product portfolios will compel established SSL certificate providers to acquire smaller vendors, which will, in turn, help them to grow exponentially during the predicted period. Vendors are usually rated based on their contribution to features, warranty, encryption, and cost, where a zero rating symbolizes no contribution and a rating of five symbolizes the highest contribution.
A more detailed analysis is available in the Technavio report, SSL Certification Market in the US 2016-2020.
We can customize reports by other regions and specific segments upon request.
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