Pune, India, March 15, 2022 (GLOBE NEWSWIRE) -- The global digital signature market size was USD 3.00 billion in 2021. The market is projected to grow from USD 4.05 billion in 2022 to USD 35.03 billion by 2029, exhibiting a CAGR of 36.1% during the forecast period.
This information is published by Fortune Business Insights™, in its report, titled, “Digital Signature Market Share, 2022-2029.”
The rising demand for e-businesses and paperless workflow is anticipated to drive the market. It is aiding industries such as retail, BFSI, healthcare, government, IT & telecom, among others, to decrease operational budget.
COVID-19 Impact
Social Distancing Rules to fast-track Usage of Electronic Signature in COVID-19 Times
The COVID-19 pandemic has rushed the implementation of digital sanctioning and signatures. The surging online and remote work commitments are forcing the industries to embrace digital technology to remain working on their business. Governments across the nations are utilizing and endorsing digital signatures to decline paper-grounded transactions to preserve social distancing guidelines.
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Companies Profiled in the Global Digital Signature Market Report:
- Adobe, Inc. (California, U.S.)
- OneSpan, Inc. (Illinois, U.S.)
- DocuSign, Inc. (California, U.S.)
- Thales Group (Paris, France)
- ASSA ABLOY (Stockholm, Sweden)
- GlobalSign, Inc. (Leuven, Belgium)
- Entrust Corporation (Minnesota, U.S.)
- Ascertia Limited (Guildford, Surrey)
- SIGNiX, Inc. (Tennessee, U.S.)
- IDEMIA (Courbevoie, France)
Digital Signature Market Analysis Report Scope & Segmentation -
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2022 to 2029 CAGR | 36.1 % |
| 2029 Value Projection | USD 35.03 Billion |
| Base Year | 2021 |
| Market Size in 2021 | USD 3.00 Billion |
| Historical Data for | 2018-2020 |
| No. of Pages | 140 |
| Segments covered | Component; Deployment; Enterprise Size; Industry; |
| Growth Drivers | Need for Improved Security, Operational Efficiency and Seamless Workflow to Propel Market Growth |
| Rising Preference Towards Digitalization by BFSI Companies to Boost Market Growth | |
| Pitfalls & Challenges | Lack of Awareness Regarding Legality and Benefits of Digital Signature to Hinder Market Growth |
Report Coverage
The market report highlights dominating regions throughout the globe to offer an enhanced perception of the user. Moreover, the report presents visions into the latest industry trends and reviews technologies installed at a speedy pace at the worldwide level. The report analyses numerous standard shifts linked with the modification in the software industry. It additionally accentuates a few of the growth-provoking aspects and constraints, assisting our clients in gaining detailed knowledge about the digital signature market.
Segmentation
Surging Demand for Digital Solutions to Navigate Software Segment Growth
Based on the component, the market is categorized as software, hardware, and services. The software market is expected to lead the market. Its capability to offer instant electronic signature conversion is likely to drive the software segment.
Based on the deployment, the market is categorized as on-premises and cloud.
Based on enterprise size, the market is segmented into large enterprises and small & medium enterprises.
Based on industry, the market is segmented into BFSI, IT and telecommunications, government, healthcare & life science, education, retail, real estate, and others.
Geographically, the market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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Driving Factors
Required Security Upgrade, Functional Proficiency and Seamless Workflow to Boost Market Growth
Formerly, handling, saving and tracking information utilized to take a long time, which additionally postponed other work methods. Further, the necessity for enhanced operational proficiency and worry concerning data security has resulted in the appearance of digital signatures. For sectors such as banking and insurance, retail, real estate, and government, the security of digital information reassigned among individuals or departments is of highest prominence. Consequently, these large transactions fueled businesses have begun amalgamating digitally-empowered signatures in their work procedures to fulfil their requirement for safe online transactions.
Regional Insights
North America to Dominate backed by Early Adoption of Technology by Companies
North America is projected to dominate by holding the largest digital signature market share during the forecast period. The region is a preliminary implementer of digital technologies and hence boosts the market growth.
Asia Pacific is anticipated to grow considerably owing to the surging government programs to enhance digitalization across industries.
Europe is predicted to gain prompt digital signature market growth during the forecast period owing to rising E-business systems across industries.
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Competitive Landscape
Companies Involve into Strategic Partnerships to Innovate Advanced Devices
Fundamental players in the market are incessantly rooting for functional stratagem to endorse their products and establish their positions in the market. One such approach is to unveil novel products by partnering up with other companies to expand their reach to end-users.
Industry Development
August 2020: DocuSign, Inc. declared a tactical partnership with GMO GlobalSign to offer a seamless digital signature solution. The DocuSign Inc. platform will incorporate the cloud-based Document Signing Service (DSS) of GMO GlobalSign.
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Major Table of Content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Digital Signature Key Players Market Share Insights and Analysis, 2021
- Global Digital Signature Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Component (USD)
- Software
- Hardware
- Services
- Professional Services
- Consulting
- Training & Education
- Support & Maintenance
- Managed Services
- Professional Services
- By Deployment (USD)
- On-premise
- Cloud
- By Enterprise Size (USD)
- SME's
- Large Enterprises
- By End User (USD)
- BFSI
- IT & Telecommunication
- Government
- Healthcare and Life Science
- Education
- Retail/e-commerce
- Real Estate
- Others (Defense & Legal)
- By Region (USD)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
- North America Digital Signature Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Component (USD)
- Software
- Hardware
- Services
- Professional Services
- Consulting
- Training & Education
- Support & Maintenance
- Managed Services
- Professional Services
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