LONDON (03/16/2000) - Spurred by current growth patterns in e-commerce, the PKI (public key infrastructure) market will be worth US$3.5 billion by 2003, according to a study from U.K.-based market research company Datamonitor PLC.
In a new report titled "Public Key Infrastructure, 1999 - 2003," Datamonitor reasons that as the Internet grows, so does e-commerce, and as e-commerce grows, so will the need for security. PKI is one of the more popular methods for providing that security, for both businesses and consumers.
PKI enables Internet users to securely and privately exchange data, including financial details, through the use of a public and a private cryptographic key pair that is obtained and shared through a trusted authority.
The business world is ready for an explosion in e-commerce, and after two years of incorrect predictions about the PKI market, it is finally ready for prime time, according to a statement release by Datamonitor today.
The PKI market, including products, integration, professional services, maintenance and PKI services, will grow at an average rate of 73 percent year on year until 2003, according to the study.
Total revenues for the market, currently at $641 million, will be worth $3.6 billion in 2003.
The fastest growing area within the PKI industry will be ongoing services, such as registration and authentication, according to the study. As these services grow, the trusted third parties (TTPs) that issue the certificates will be the most profitable aspect of PKI.
The outsourced services market in PKI, posting 1999 revenues of $70 million, will reach $595 million by 2003.
Datamonitor, in London, can be reached at +44 20 7316 0002, or at http://www.datamonitor.com/.