1 Types of SSL Certification
The SSL Certification market can be segmented into three main types: Organization Validation (OV), Domain Validation (DV), and Extended Validation (EV).
Organization Validation (OV) is generated after trusted CAs vet the organization requesting the certificate, so it provides a greater level of brand credibility for end users than a domain-validated certificate does.
Domain Validation (DV) secures and encrypts a particular domain name by validating the legitimacy of the domain owner.
Extended Validation (EV) provides the highest level of security, and involves rigorous vetting of the organization requesting the certificate. The vetting is done as per the rules laid down by the CA/Browser Forum. Having an EV SSL on the website activates the address bar and displays the organization’s name in the browser’s omnibox. EV certificates are generally used by major online retailers and banks as well as organizations that intend to build immediate trust with their end users.
2 Global SSL Certification Market Share by Types in 2023
In the global SSL certification market, the Extended Validation (EV) category dominates the market with the largest share, accounting for 62.87% of the total. Following EV, Organization Validation (OV) holds the second-largest market share at 27.41%. OV certificates are valued for providing a greater level of brand credibility than DV certificates, as they involve a vetting process by trusted Certificate Authorities to confirm the organization’s legitimacy.
Domain Validation (DV) certificates, which secure and encrypt a specific domain name by validating the domain owner’s legitimacy, represent the smallest segment of the market with a 9.72% share.
Figure Global SSL Certification Market Share by Types in 2023
3 Global SSL Certification Value by Types (2019-2024)
The global SSL certification market has experienced significant growth from 2019 to 2024. In 2019, the total market value was 225.72 million USD, with Organization Validation (OV) certificates at 63.25 million USD, Domain Validation (DV) at 22.41 million USD, and Extended Validation (EV) at 140.06 million USD.
The growth trajectory became more pronounced in 2022, with the total market value climbing to 390.34 million USD. OV certificates saw a substantial increase to 107.54 million USD, while DV and EV also grew to 38.21 million USD and 244.59 million USD, respectively.
In 2023, the SSL certification market reached a total value of 459.75 million USD, with OV certificates leading at 126.02 million USD, followed by EV at 289.05 million USD, and DV at 44.69 million USD. Projections for 2024 indicate a further increase, with the total market value expected to hit 530.93 million USD. The forecasted values for 2024 are 144.52 million USD for OV, 51.23 million USD for DV, and a significant leap for EV at 335.18 million USD.
Table Global SSL Certification Value (M USD) by Types (2019-2024)
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
Organization Validation (OV) | 63.25 | 76.32 | 91.96 | 107.54 | 126.02 | 144.52 |
Domain Validation (DV) | 22.41 | 27.12 | 32.61 | 38.21 | 44.69 | 51.23 |
Extended Validation (EV) | 140.06 | 170.79 | 207.54 | 244.59 | 289.05 | 335.18 |
Total | 225.72 | 274.23 | 332.12 | 390.34 | 459.75 | 530.93 |
4 Global SSL Certification Value and Growth Rate by Type (2019-2024)
In 2019, the value of OV SSL certificates was 63.25 million USD, which saw a substantial increase reaching 144.52 million USD by 2024. This upward trajectory is marked by a few fluctuations in growth rates.
The growth rate for OV SSL certificates was 20.67% in 2020, slightly decreasing to 20.50% in 2021. A more pronounced dip is observed in 2022 with a growth rate of 16.94%, possibly indicating a slowdown in the market’s expansion during that year. However, the growth rate rebounded to 17.18% in 2023, suggesting a recovery in market growth. The year 2024 continued this positive trend with a growth rate of 14.68%, with the market value of 144.52 million USD.
Figure Global SSL Certification Value (M USD) and Growth Rate of Organization Validation (OV)
The global DV SSL certification market value starts at 22.41 million USD in 2019, the market shows a consistent upward trend, reaching an estimated 51.23 million USD by 2024. This growth is characterized by a few fluctuations in the annual growth rates.
The increase in market value from 27.12 million USD in 2020 to 44.69 million USD in 2023, with a projected rise to 51.23 million USD in 2024, underscores the growing importance and adoption of DV SSL certificates. Despite the variations in growth rates, the overall trajectory points to an expanding market for domain validation certificates, which are crucial for securing and encrypting specific domain names by validating domain ownership. This steady growth reflects a broader trend towards enhancing online security and trust.
Figure Global SSL Certification Value (M USD) and Growth Rate of Domain Validation (DV)
The EV SSL certificates have shown a significant increase in value over the years, starting at 140.06 million USD in 2019 and projected to reach 335.18 million USD by 2024.
The growth rate for EV certificates was 21.94% in 2020, slightly decreasing to 21.52% in 2021. A more pronounced drop is observed in 2022, with the growth rate falling to 17.85%. However, the market rebounded in 2023 with a growth rate of 18.18%, and further increased to 15.96% in 2024, indicating a resilient expansion in the EV SSL certificate sector.
The increase in market value from 170.79 million USD in 2020 to 289.05 million USD in 2023, with a projected rise to 335.18 million USD in 2024, underscores the growing importance and adoption of EV SSL certificates. Despite the fluctuations in growth rates, the overall trend points towards an expanding market for extended validation certificates, which are crucial for major online retailers and banks seeking to establish a high level of trust and security with their customers. This steady growth reflects a broader trend toward enhancing online security and trust.
Figure Global SSL Certification Value (M USD) and Growth Rate of Extended Validation (EV)
5 Global SSL Certification Value by Types (2024-2030)
For OV certificates, the market value is expected to grow from 144.52 million USD in 2024 to 299.74 million USD in 2030. DV certificates show a more gradual increase, starting at 51.23 million USD in 2024 and reaching 106.60 million USD by 2030. The EV certificates, which already have a higher market value, are projected to grow from 335.18 million USD in 2024 to 734.94 million USD in 2030.
The total market value for SSL certificates is also on an upward trajectory, starting at 530.93 million USD in 2024 and expected to almost double to 1,141.28 million USD by 2030. This forecast indicates a strong and growing demand for SSL certificates, with a particular emphasis on the higher value and trust associated with OV and EV certificates, which are likely to see significant adoption by organizations looking to secure their online presence and build trust with their customers. The consistent growth across all certificate types reflects a broader trend towards enhancing online security and trust in digital transactions.
Table Global SSL Certification Value (M USD) by Types (2024-2030)
| 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 |
Organization Validation (OV) | 144.52 | 161.61 | 183.21 | 209.00 | 236.29 | 265.14 | 299.74 |
Domain Validation (DV) | 51.23 | 57.45 | 65.00 | 74.29 | 83.82 | 94.03 | 106.60 |
Extended Validation (EV) | 335.18 | 378.70 | 432.88 | 497.61 | 567.29 | 643.52 | 734.94 |
Total | 530.93 | 597.75 | 681.09 | 780.91 | 887.41 | 1002.69 | 1141.28 |
6 Global SSL Certification Value Market Share by Types (2024-2030)
In 2024, the market share for OV certificates is at 27.22%, which shows a slight fluctuation over the years, with a minor decrease to 26.26% by 2030. DV certificates maintain a relatively stable market share, starting at 9.65% in 2024 and experiencing a gradual decrease to 9.34% by 2030. The EV certificates, which currently hold the majority of the market share, are projected to increase from 63.13% in 2024 to 64.40% in 2030.
This data indicates a growing preference and trust in EV certificates, which are recognized for providing a higher level of security and are commonly used by major online retailers and banks. The consistent increase in EV’s market share suggests that organizations are prioritizing robust security measures to establish and maintain trust with their customers. Meanwhile, OV, despite a slight overall decline, remains significant in the market, reflecting its value in offering a higher level of brand credibility compared to DV. The DV category, with its smaller market share, still plays an essential role, offering basic security needs for a broader range of customers. The projected growth in EV’s market share reflects a broader trend toward enhanced online security and trust in digital transactions.
Table Global SSL Certification Value Market Share by Types (2024-2030)
| 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 |
Organization Validation (OV) | 27.22% | 27.04% | 26.90% | 26.76% | 26.63% | 26.44% | 26.26% |
Domain Validation (DV) | 9.65% | 9.61% | 9.54% | 9.51% | 9.45% | 9.38% | 9.34% |
Extended Validation (EV) | 63.13% | 63.35% | 63.56% | 63.72% | 63.93% | 64.18% | 64.40% |
Total | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
