Market Trends of Certificate Authority Industry
Healthcare End User Vertical Segment is Expected to Hold Significant Market Share
- Every medical website owner must ensure that the website has HTTPS. Choosing the right SSL certificate should also be a key consideration for the SSL website security of a medical website. It is recommended to have an EV SSL certificate, which offers the required encryption level relevant to medical websites along with the highest validation.
- The Healthcare category is expected to demonstrate the highest growth opportunities in the future. In healthcare facilities such as clinics and hospitals, vast amounts of sensitive and confidential data are stored, making adopting digital certificates necessary for a healthcare website. Investments in digitalization have increased in the healthcare sector, which will create new growth opportunities for the certificate authority market moving forward.
- The healthcare business is rapidly adopting advanced technologies to provide patients with an intuitive, tailored experience. The expansion strategy of partnerships, mergers, and acquisitions in the healthcare sector vertical has increased the difficulty of protecting user passwords and other sensitive information.
- The digital certificates assist healthcare practitioners in securing personal health information on mobile devices such as computers and smartphones. Furthermore, the increasing number of cyber-attacks on Personally Identifiable Information (PII) is a significant concern for healthcare organizations. According to Identity Theft Resource Center, there have been more than 340 incidents of data compromises in the United States in the healthcare sector this year.
- Digital certificates will become vital in ensuring that healthcare solutions comply with HIPAA and other federal and state regulations. Several industry organizations are establishing standards and best practices that will allow healthcare companies to buy licensed solutions that they can be confident will meet these needs. In both traditional healthcare applications and IoT use cases for linked medical equipment, digital certificates play a critical role in ensuring this assurance.
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North America is Expected to Hold Significant Market Share
- North America is expected to hold the largest market size in the certificate authority market by region during the forecast period. Primary growth drivers for the North American market constitute the significant presence of primary certificate authorities and stringent data security regulations and compliance.
- Due to growing online businesses, digital transformation, and IoT trends, North America is anticipated to drive the certificate authority market. Additionally, the countries in the region, namely the United States and Canada, have updated or introduced new national cybersecurity policies that would drive the certificate authority market.
- Growing Internet of Things (IoT) trends are expected to create vital growth opportunities for the certification authority market in the region. Moreover, the growing number of data breaches and data thefts in the healthcare and medical sector is also anticipated to boost the Certificate Authority Market growth in the region.
- Healthcare cybersecurity crimes are on the rise in the US and continue to be one of the major concerns in the country, fueling firms to drive solutions in the market.
- Amid the growing demand, Cisco shared an internal guide on international security compliance and certification requirements for cloud software. In May 2022, Cisco released the 'Cisco Cloud Controls Framework' (CCF) to the public. The CCF aims to help teams ensure cloud products and services meet security and privacy requirements with a simplified compliance and risk management strategy, 'saving significant resources.'
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