Frost Radar™: Global Holistic Transport Layer Security (TLS) Certificate Market, 2022

The holistic TLS certificate market includes certificates used for web applications, email security, digital signatures, Internet of Things (IoT), and other public key infrastructure (PKI) use cases. This market is continuously evolving, and creating new use cases and applications for TLS certificates helps market leaders maintain a competitive edge and sustain growth. A public certificate authority (CA) incurs enormous capital expenditure and operational overhead to build and maintain its public key infrastructure (PKI). Moreover, frequent updates to certificate standards imposed by the CA/Browser Forum require CAs to upgrade the infrastructure constantly. Therefore, the number of public CAs in the market has dwindled in the last 3 years. The rapid growth of Internet of Things (IoT) devices and the increasing adoption of digital transformation initiatives among enterprises have led to an explosion in connected machines. A massive increase in the volume of attacks on machine identities is driving the adoption of digital certificates to protect the identity of IoT devices. The impact of the COVID-19 pandemic on the TLS market results primarily from the surge of internet-reliant people who began working from home. As the number of digital engagement points increases for organizations, securing communication and data exchange between stakeholders becomes important, thereby increasing demand for TLS certificates. The Frost Radar reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar methodology. The document presents competitive profiles on each of the companies in the Frost Radar based on their growth, innovation, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients. Author: Swetha Ramachandran Krishnamoorthi