Dublin, Feb. 22, 2019 (GLOBE NEWSWIRE) -- The "Digital Signature Market by Solution (Software and Hardware), Service, Deployment Mode, Application (BFSI, Government & Defense, Legal, Real Estate, HR, Manufacturing & Engineering, Healthcare & Life Sciences), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
This digital signature market size to grow from USD 1.2 billion in 2018 to USD 5.5 billion by 2023, at a CAGR of 36.7% during 2018-2023.
Digital transformation is changing the way businesses are operating. Nowadays, organizations are focusing on transforming their business operations by adopting various technologies to increase their overall productivity, offer an enhanced experience to customers, reduce cost, and improve efficiency. The increasing digital initiatives, along with the rising need to reduce the time required for printing, scanning, and sending paper-based documents, is expected to create the demand for digital signatures.
Digital signatures, which make use of digital certificates, are an advanced form of electronic signatures that offer more security over basic electronic signatures. Digital certificates include digital ID issued by a Trust Service Provider (TSP) or a Certificate Authority (CA). After a signer signs a document digitally, its identity is uniquely linked to the signer. When a digital signature is applied, it includes the user's signature in a graphical presentation, name of the signer, timestamp, signed date of the document, and the location where the document is signed.
This signature is attached to the document with the help of encryption technology, which is used to validate the authenticity and integrity of documents, software, or messages. This advanced form of signatures is primarily used to achieve 3 major objectives, namely, integrity, authenticity, and non-repudiation. Various organizations have started using digital signatures to meet the legal, regulatory, and compliance requirements, which in turn, is creating opportunities for new players in the cybersecurity market space. Furthermore, digital signature players have started integrating advanced technologies, such as blockchain, into digital signature solutions.
Globally, digital signature solutions are rapidly gaining traction over traditional paper-based solutions, as they are becoming very crucial to accelerating business processes. Various factors that are contributing to the growth of the digital signature market include improved security with a controlled seamless workflow, improved operational efficiency at a lower Operational Expenditure (OPEX), increased government and enterprise investments in electronic documents, and growing need for enhanced end-to-end customer experiences.
Based on components, the digital signature market is divided into solutions and services, between which, the solutions segment is expected to have a larger market size during the forecast period. The vendors in the digital signature market offer software and hardware solutions.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Digital Signature Market
4.2 Market Top 3 Applications
4.3 Market Top 3 Applications and Regions
4.4 Market By Application
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Investments in Electronic Documents By Governments and Enterprises
5.2.1.2 Improved Security With A Controlled and Seamless Workflow
5.2.1.3 Improved Operational Efficiency at Lower OPEX
5.2.1.4 Enhanced End-To-End Customer Experience
5.2.2 Restraints
5.2.2.1 Variation in Digital Signature Rules and Regulations Across Regions
5.2.2.2 Lack of Awareness About the Legality of Digital Signatures
5.2.3 Opportunities
5.2.3.1 Increasing Number of Partnerships and Acquisitions
5.2.3.2 Increased Acceptance of Cloud-Based Security Solutions
5.2.4 Challenges
5.2.4.1 Deeply Entrenched Traditional Business Practices
5.3 Regulatory Implications
5.3.1 Introduction
5.3.2 General Data Protection Regulation (GDPr)
5.3.3 Health Insurance Portability and Accountability Act (HIPAA)
5.3.4 Payment Card Industry Data Security Standard (PCI DSS)
5.3.5 System and Organization Controls 2 (SOC 2) Type II Compliance
5.3.6 Electronic Identification, Authentication, and Trust Services (EIDAS)
5.3.7 Electronic Signatures in Global and National Commerce (ESIGN) Act
5.3.8 Uniform Electronic Transactions Act (UETA)
5.3.9 Sarbanes-Oxley Act (SOX)
5.3.10 Food and Drug Administration (FDA) Compliance
5.3.11 21 CFR Part 11
5.3.12 Information Technology (IT) Act, 2000
5.3.13 Countries and Their Law
5.4 Use Cases
6 Digital Signature Market By Component
6.1 Introduction
6.2 Solutions
6.2.1 Hardware
6.2.1.1 Usb Tokens to Become Crucial Because of the Various Benefits Offered By Them
6.2.2 Software
6.2.2.1 Need for Lowering the Maintenance Cost to Help Boost the Adoption of Digital Signature Software
6.3 Services
6.3.1 Managed Services
6.3.1.1 Increasing Adoption of Digital Signature Solutions to Help Managed Services Gain Traction
6.3.2 Professional Services
6.3.2.1 Professional Services to Gain Traction to Help Organizations Find the Right Solution
7 Digital Signature Market By Deployment Mode
7.1 Introduction
7.2 On-Premises
7.2.1 On-Premises Digital Signature Solutions to Provide Control and Flexibility to Organizations
7.3 Cloud
7.3.1 Cloud-Based Systems are Comparatively Less Expensive Than On-Premises Systems
8 Digital Signature Market By Application
8.1 Introduction
8.2 Human Resources
8.2.1 Digital Signatures Help the Hr Automate Paper-Intensive Processes
8.3 Education and Research
8.3.1 Digital Signature Accelerates the Overall Admission Process and Improves Student and Staff Experience, Along With Fulfillment of Regulatory Compliances
8.4 Banking, Financial Services, and Insurance
8.4.1 Digital Signatures Accelerate Invoicing and Cash Flow, Improve Compliance, and Offer Real-Time Visibility Into Complex Document Workflows
8.5 Government and Defense
8.5.1 With Digital Signatures, Governments Can Easily Validate Documents
8.6 Legal
8.6.1 Digital Signature Simplifies and Accelerates Agreement Preparation, Signing, and Management
8.7 Healthcare and Life Sciences
8.7.1 Digital Signatures Help Healthcare Organizations Skip the Complex Processes of Patient On-Boarding and Payment Processing
8.8 Real Estate
8.8.1 in Real Estate, Digital Signatures Provide Authenticity and Traceability, and Control the Documentation Process
8.9 Manufacturing and Engineering
8.9.1 Digital Signature Helps Get Approvals Required for Manufacturing Processes
8.10 Others
9 Digital Signature Market, By Region
10 Competitive Landscape
10.1 Overview
10.2 Microquadrant Overview
10.3 Strength of Product Portfolio
10.4 Business Strategy Excellence
11 Company Profiles
11.1 Adobe
11.2 Onespan
11.3 Gemalto
11.4 Ascertia
11.5 Docusign
11.6 Entrust Datacard
11.7 Signix
11.8 Secured Signing Limited
11.9 Identrust
11.10 Kofax
11.11 Globalsign
11.12 Rightsignature
11.13 Zoho Corp
11.14 Rpost Technologies
11.15 Multicert
11.16 Hellosign
For more information about this report visit https://www.researchandmarkets.com/research/txkcwp/5_5_bn_digital?w=12
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