Secure Socket Layer (SSL) Certification Market: Driven by increasing application of cloud computing technology and Internet of things (IoT)

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Security socket layer (SSL) is a broadly used security protocol that most web servers use to ensure a secure machine to machine (M2M) connection for communication and transactions over an unsecured network such as the internet. Essentially, SSL is used when a web browser needs to be securely connected to a web server over the unsecured internet. Technically, SSL is a transparent protocol, which requires interaction with the end-users when establishing a secure session. To create a secure confidential communications pipe between two entities, SSL protocol uses digital certificates. SSL certificate is a small data file issued by one of the trusted Certificate Authorities (CAs) that digitally binds a cryptographic key to an organization’s corporate details.

Security includes message integrity, confidentiality and authentication. SSL achieves this through the use of digital signatures, cryptography, and certificates. SSL protects confidential information by using cryptography. It safeguards the communications channel and also helps in authenticating communicating parties. SSL can secure any connection between two points and block unauthorized access by anyone to any sensitive information.

Secure Socket Layer (SSL) Certification Market – Drivers & Restraints

SSL certification market growth is driven by a number of factors such as increased online shopping, payment transactions and rising focus on regulatory requirements. For instance, enterprises are mandated to adhere to payment card industry data security standard (PCI DSS) to certify the protection of confidential data. PCI DSS is a standard that is applied to enterprises when they accept credit card payments. SSL certificates used in these enterprises also support their web browser. This in turn, helps them to meet the PCI requirements while accepting credit cards on their site.

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The increasing application of cloud computing technology and Internet of things (IoT) is driving the growth prospects for the SSL certification market. Demand for secure sockets layer certification is increasing due to growth in web-based businesses in BFSI and e-commerce industries. Enterprises are obligated to adopt SSL certification due to the rising concerns of cyber-attacks. The SSL certification market is gaining traction as the awareness among end-users about encryption is increasing. Google is supporting the growth of the market by flagging websites which are not secure.

However, the use of self-signed certificates is a major factor pulling back the growth of the secure sockets layer certification market. Self-signed certificates are certificates that are usually signed by the same entity whose identity it certifies.

Secure Socket Layer (SSL) Certification Market – Drivers & Restraints

The global secure sockets layer certification market can be segmented based on type, services, verticals, and enterprise size. Depending on types of SSL certificates, the market can be segmented into three major categories: domain validated (DV) SSL, organization validated (OV) SSL, and extended validation (EV). Based on verticals, the market is fragmented into BFSI, telecom & IT, media & entertainment, retail & e-commerce, utilities, healthcare, government, and education. Based on enterprise size, the market for secure socket layer certification can be segmented into SMEs and large enterprises.  Demand for OV SSL and DV SSL certifications from SMEs is comparatively high as these certifications are ideal for small companies that have budget constraints.

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The secure sockets layer certification market is segmented in terms of regions into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America is anticipated to contribute the major share to the market during the forecast period. This can be attributed to growing adoption of connected solutions such as IoT and cloud computing among verticals such as IT, media, and BFSI and the presence of strong domestic solution providers in the region. Asia Pacific is expected to be the fastest growing market. Growth of the market in Asia Pacific is attributed to increasing awareness among different businesses in order to streamline and manage their security.

Secure Socket Layer (SSL) Certification Market – Key Players

Some of the major players active in the development of secure sockets layer certification include ACTALIS, Certum, Comodo, DigiCert, Entrust Datacard, GlobalSign, GoDaddy, IdenTrust, Let’s Encrypt, Network Solutions, Secom Trust, StartCom, Symantec, T-Systems, Trustwave, and TWCA.