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Home Application Operations

PKI-IoT market predicted to hit $5 billion by 2030

FutureIoT Editors by FutureIoT Editors
February 26, 2025
Photo by Pixabay: https://www.pexels.com/photo/brass-ornate-vintage-key-on-black-computer-keyboard-39389/

Photo by Pixabay: https://www.pexels.com/photo/brass-ornate-vintage-key-on-black-computer-keyboard-39389/

As the Internet of Things (IoT) continues to expand, the need for secure communication between devices is becoming critical. Public Key Infrastructure (PKI) is emerging as a vital technology to ensure this security, with ABI Research forecasting that the PKI-IoT market will reach a staggering US$5 billion by 2030. This growth is largely driven by increasing cybersecurity regulations and the rise of specific IoT security initiatives.

“Given the multivariate environment of the IoT, adaptable PKI offerings are on the rise, signalling a shift toward scalable, web-based trust networks within the IoT space,” says Aisling Dawson, an industry analyst at ABI Research.

This evolution moves away from traditional, centralised PKI systems to solutions that better cater to the diverse needs of IoT devices. Furthermore, automation in PKI processes—like certificate issuance and renewal—is gaining traction, aided by advancements in artificial intelligence (AI) and machine learning (ML).

Prominent players in the PKI sector, including Keyfactor, Venafi, and DigiCert, are recognising the growing importance of IoT-specific PKI solutions. Companies like Entrust and GlobalSign are also entering this competitive arena, focusing on container-based Certificate Lifecycle Management and embedded PKI systems that align with the increasing reliance on cloud storage.

The automotive, manufacturing, and healthcare industries are expected to be key areas for PKI-IoT revenue growth. With a focus on quantum-resistant solutions for the 2023 to 2030 period, vendors such as Sectigo and AppViewX are prioritising certificate dynamism. Additionally, companies like SEALSQ and Kudelski are integrating post-quantum cryptographic algorithms into their offerings.

Dawson cautions, “PKI’s potential to secure IoT devices is huge... However, the continued evolution of PKI to reflect IoT-specific requirements is necessary.” As the sector develops, rigorous testing of post-quantum PKI will be essential for ensuring that security measures are robust enough to meet the unique challenges posed by IoT devices.

Related:  Biometric update expected to surge following drop during pandemic
Tags: ABI Researchpublic key infrastructure (PKI)
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The race to harness the power of Internet of Things (IoT) is here. FutureIoT is dedicated to individuals, as well as public and private organizations looking to tap the potential of IoT to transform the way we live, work and do business. FutureIoT is the dedicated media that provides the single source of truth about IoT, the technology, its application and regulation, originating from Asia. << Read more >>

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