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Global Digital Signature Market is Expected to Grow at a CAGR of 37.2% in the Forecast Period of 2021-2026.

According to a new report by EMR titled, ‘Global Digital Signature Market Report and Forecast 2021-2026’, the global digital signature market size reached a value of around USD 1.5 billion in 2020. The market is likely to increase at a CAGR of 37.2% in the forecast period of 2021-2026.

The global digital signature market is likely to be dominated by North America, which holds the largest market share. In the coming years, Europe is projected to increase rapidly because of the demand for safe trusted transactions, the introduction of new rules on electronic signatures, and the protection of users' independence via a digital network. The Asia Pacific region is also expected to grow more rapidly due to the growing BFSI sector and several governmental organisations' initiatives aimed at improving the use of digital technology.

The green movement has taken hold worldwide during the last decade, leading to the transfer of governments, corporate offices, as well as companies to fully or partially paperless workflows. Business processes without paper are simpler and always environmentally friendly. Most departments began using online documents to save a large amount of paper. Green movement companies contributed to protecting the environment, with both governments and companies concerned about the environment. Working towards paperless document systems has increased operational efficiency and reduced operating costs, as well as accelerated decision-making. Documents must be signed for authentication using electronic signatures under electronic documents. For electronic documents, electronic signatures are embedded and electronically exchanged over the network. Without substantial changes to the existing workflow, the electronic signatures will integrate seamlessly into business applications. Such developments are propelling the market for digital signature.

In February 2017, Adobe (Nasdaq: ADBE), one of the key players, unveiled the first open, cloud-based digital signature built on an open standard. The digital signatures are advanced and protected forms of electronic signatures that are used for various processes like in the healthcare sector or for mortgage, on any browser or on any mobile device that is supported by Adobe Document Cloud as well as Adobe Sign.

Market Analysis by Component, Deployment, Application, and Regions:

  • On the basis of the component, the market can be divided into hardware, software, and service.
  • The deployment of the product can be divided into on-premise and cloud.
  • It finds applications in banking, financial services, and insurance, education, human resource, IT and telecommunication, government, healthcare and life science, and real estate, among others.
  • The regional markets of digital signature include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • Digital signatures are being widely demanded to get rid of rising fraud cases.
  • The Government Paperwork Elimination Act has also aided the growth of the market.
  • The demand for improved security and management is propelling the market growth further.
  • The rising number of deals and partnerships in the market is driving the market development.
  • The rising adoption of cloud-based deployment is also pushing the market growth further.

Key Offerings of the Report:

  • The EMR report gives an overview of the global digital signature market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the component, deployment, application, and major regional markets of digital signature.
  • It assesses the market based on SWOT and Porter's Five Forces models.

The major key players in the global digital signature market include companies like Ascertia Ltd, Adobe Inc., Gemalto N.V., Onespan Inc, Docusign Inc, Entrust Datacard, Signix, Secured Signing Limited, Identrust Inc, Kofax Company, and others. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions and capacity expansions.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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