The global secure sockets layer (SSL) certification market is expected to grow at a CAGR of more than 24% from 2017-2021, according to a new market research report by Technavio.
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Technavio has published a new market research report on the global secure sockets layer (SSL) certification market 2017-2021 under their ICT library.
Global SSL certification market segmentation by type and end-user
Technavio's report on the global SSL certification market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by type, including OV SSL certificate, DV SSL certificate, and EV SSL certificate. In 2016, the OV SSL certificate segment held the highest market share of more than 47% in the global SSL certification market.
Based on end-user, the global SSL certification market has been segmented into SMEs, large enterprises, and government agencies. The SMEs are organizations that have 100-500 employees out of which one or more employees are dedicated to managing its IT and data infrastructure.
"The employees in an SME are IT generalist and they might have to manage two or more IT-related tasks at once. SMEs adopt more DV and OV SSL certifications than EV SSL certifications due to budget constraints. However, OV and DV SSL certifications can be breached to a certain extent for any transaction-related activity. Thus, EV SSL certifications are best-suited for any kind of transactions online," says Amrita Choudhury, a lead analyst at Technavio for IT security research.
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Global SSL certification market: competitive vendor landscape
The key vendors are compared based on the cost of the product they provide, type of encryption, and features along with SSL certification. Cost is one of the major factors considered by end-users while getting SSL certification. GoDaddy and Comodo are the low-cost SSL certification providers. The additional benefits provided by vendors could be UC support, algorithm support, vulnerability assessments, and browser compatibility. SSL certification also assists clients to enhance their Google search ranking according to the initiatives taken by Google.
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Other topics covered in the report:
Market drivers:
- Increasing awareness of end-users
- Increasing number of data thefts
Market challenges:
- Use of self-signed certificates
- Appropriate auditing by CAs
Market trends:
- Growing number of online transactions
- Increasing use of BYOD concept
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