Digital Signature Market Report

Market Insights

"The global digital signature market is projected to grow from USD 4.1 billion in 2020 to USD 19.8 billion by 2026, at a CAGR of over 30.8% during the forecast period."

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The digital signature market is defined as the industry involved in the development, deployment, and maintenance of digital signatures, which are electronic representations of physical signatures. These signatures serve as evidence of the origin, identity, and status of an electronic document, transaction, or message. Digital signatures utilize cryptography to establish a direct link between the signer's identity and the document's content, ensuring that it has not been tampered with and is authentic.

Market Trends for Digital Signature:

• Cloud-Based Solutions: The adoption of cloud-based digital signature systems, which provide scalability and accessibility, is increasing.
• Regulatory Compliance: The adoption of digital signatures for legal compliance is being driven by growing legislation such as the ESIGN Act in the US and eIDAS in Europe.
• Mobile Integration: The market is being reached by the increasing integration of digital signature features in mobile apps and devices.
• Blockchain Technology: Blockchain integration is becoming more popular as a way to improve digital signature security and transparency.
• AI and Machine Learning: AI is being utilized to enhance fraud detection and signature verification procedures.
• Cross-Border Transactions: Secure international business transactions are becoming more and more simple with the use of digital signatures.
• Healthcare Sector Growth: Digital signatures are being quickly utilized by the healthcare sector for telemedicine and patient record applications.
• Biometric Integration: Digital signatures and advanced biometric technologies are being combined to improve security and user authentication.

The above trends demonstrate how the digital signature market is constantly developing due to both shifting business requirements and technology advancements.

Government and business investments in electronic documents are rapidly increasing. For the past decade, the green movement has taken hold around the world, resulting in a shift in government, corporate offices, and enterprises toward full or partial paperless workflows. Inadequate understanding of the legality of digital signatures. All processes, such as document creation, editing, formatting, sharing, and storage, are now done electronically. However, when it comes to signing, most people will stick with the traditional wet-ink method. Increased acceptance of cloud-based security solutions. With the increased availability of the internet and the increased use of mobile and internet-connected devices, there is an increase in demand for cloud-based security technologies and solutions.

Key Players

The key players operating in the digital signature market are:

• Adobe Inc. (US)
• OneSpan (US)
• Thales (France)
• DocuSign, Inc. (US)
• Ascertia (UK)
• Zoho (India)
• Secured Signing (New Zealand)
• Entrust Datacard (US)
• DigiCert, Inc. (US)
• IdenTrust (US)
• GlobalSign (US)
• Symtrax (US)
• ComSignTrust (Israel).

Note: The above list does not necessarily include all the top players in the market.

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Segment’s Analysis

Vertical Trends

"BFSI segment accounted for the largest market share."

Based on vertical, the digital signature market has been classified into BFSI, Government and Defense, Healthcare and Life Sciences, Legal, Real Estate, Education, and Others. BFSI accounted for the largest market share. The popularity of online services such as internet banking, mobile banking, and stock trading has increased dramatically. Through customer-centric business applications, the BFSI vertical focuses on understanding digital consumer behavior, preferences, and choices.

Regional Insights

"North America accounted for the largest market share."

By region, the digital signature market in North America accounted for the largest market share in 2020. North America is one of the most advanced regions. The region is home to the majority of multinational corporations, as well as a large number of small businesses. In recent years, there has been an increase in concern about the security of critical IT infrastructure and sensitive data. Companies are allocating significant funds to data security in their budgets. With government mandates for securing electronic documents and the benefits of using digital signatures in the United States and Canada, the digital signature market is poised to grow as digital signature technology is more integrated.

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Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

What deliverables will you get in this report?

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s digital signature market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.