SSL certification: Key market research findings
- Increased usage of SSL certification in retail and BFSI sectors
- Growing demand for OV SSL certificates
Technavio has added a new market research report on the global SSL certification market, which is expected to grow at a CAGR of around 23% between 2016 and 2020. IoT and machine-to-machine (M2M) communications are the major drivers which are influencing the market revenue and its growth rate. The Americas dominate the global market for SSL certification, accounting for around 41% of the overall market share. The US is the major revenue contributor to the market in this region owing to the increasing focus on web-based businesses by many organizations in sectors such as BFSI, healthcare, and e-commerce.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“SSL certification has become compulsory in several retail stores, which use the e-commerce platform to increase their sales. EV SSL certificates are being used in retail and BFSI sectors that provide high levels of encryption for any data transmitted online. Growing use of mobile banking applications have necessitated data security such as usernames, passwords, and account details, which has propelled the use of SSL certification,” says Navin Rajendra, Lead Analyst, ICT, Technavio Research.
OV SSL certificates account for around 47% of the overall market share in the global SL certification market. Growing need among organizations to increase data security and avoid data theft is a major factor boosting this segment’s growth. These SSL certificates provide a basic level of security for websites. The market share for OV SSL certificates is expected to increase during the forecast period due to the need for a high level of web security and rising adoption of advanced SSL certificates by large enterprises and SMEs.
The leading vendors in the global SSL certification market include Comodo, DigiCert, Entrust Datacard, GlobalSign, GoDaddy and Symantec. Intense competition prevails in the market since the key vendors account for a major share in the market. Also, numerous resellers and distributors are entering the global SSL certification market. As the demand for SSL certificates is likely to increase, the number of resellers and distributors are also likely to increase in the market.
A more detailed analysis is available in the Technavio report, Global SSL Certification Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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