Digital Signature Market to Expand at a Staggering 28.77% CAGR, Rising Acceptance of Digital Signature Technology for Online Communication to Drive the Market: Fortune Business Insights

PUNE, India, Aug. 8, 2019 /PRNewswire/ -- The global Digital Signature Market is anticipated to exhibit a remarkable CAGR of 28.77% between 2018 and 2026. Fortune Business Insights in a report, titled "DIGITAL SIGNATURE MARKET, SIZE, SHARE AND GLOBAL TREND BY COMPONENT (SOFTWARE, HARDWARE, SERVICES), BY DEPLOYMENT (ON-PREMISES, CLOUD), BY ORGANIZATION SIZE (SMEs, LARGE ENTERPRISES), BY END-USER (BFSI, IT AND TELECOMMUNICATION, GOVERNMENT, HEALTH CARE AND LIFE SCIENCE, EDUCATION, RETAIL, REAL ESTATE, AND OTHERS) AND GEOGRAPHY FORECAST TILL 2026." published the above information. Analysts in the report say that the growing need for document authentication and online security is driving the Digital Signature Market growth. As per the report, the global market was valued at US$ 879.6 Mn in 2018 and is projected to reach US$ 6,128.0 Mn by 2026. Governments across the world are increasingly investing in electronic documents to ensure seamless workflow and improved security. Against this backdrop, the Digital Signature Market share is likely to upsurge over the projected horizon. 

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With the growing advances in e-business, there is a rising concern over authentication and online security. While several advanced technologies are emerging to support internet authentication, replacing hand-written signatures with digital ones is the need of the hour in businesses.  The digital signature solution provides several advantages which include lesser costs, reduced turnover time, enhanced efficiency, and improved security. Furthermore, it enhances scalability, transparency, customer satisfaction, and data integrity, which as a result, propels the Digital Signature Market growth.

Presence of Powerful Players in the U.S. to Drive the Market in North America

In 2018, the market in North America was leading with a value of US$ 297.3Mn and it will continue to lead through the forecast years. The growth witnessed is ascribable to the presence of well-established IT infrastructure adopting digital signature technology. In addition to this, the presence of big giants in the U.S. is creating ample growth opportunities for the market. These giants are continuously focusing on the implementation of digital signature systems across industries such as BFSI, government, healthcare, life sciences, and education.

Besides North America, the market in Asia Pacific is likely to exhibit the second-highest CAGR in the forecast years. Considering this, the market in the region was valued at US$ 183.6 Mn in 2018 and is projected to witness high growth between 2018 and 2026. The market is increasingly investing in small and medium-scale organizations, which is increasing the adoption of cloud-based digital signature solutions. This is expected to positively impact the Digital Signature Market size in the forecast period.

Growing Concerns Over Forgery Stoke Demand for Digital Signature Software

"Increasing number of e-commerce activities and amplifying internet penetration are increasing the adoption of digital signature technology across industries," said a lead analyst at Fortune Business insights. "Digital signature not only helps to solve problems related to tempering in online communication but also minimizes the risk of forgery," he added. A digital signature allows a user to easily find out the source or identify the status of the e-document. Moreover, a user can prove the authenticity of the document via a digital signature. The need for digital signature is growing in different areas which include patient consents, court documents, contracts, banking documents, and legal records. The growing number of data breaches and online frauds especially in Banking and Financial Institutions (BFSI) is driving the adoption of digital signatures in BFSI. Contrary to this, some organizations are not well-aware of the digital signature services, which may hamper the growth of the market.

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Dropbox to Acquire HelloSign for US$ 230 Million

Companies are adopting digital signature technology to improve end-to-end customer experience and authenticate the client's identity. As per the report, some of the key players operating in the market are Ascertia, Onespan, Adobe, Gemalto, Docusign, Rpost Technologies, Entrust Datacard, Identrust, Signix Inc., Zoho Corp, Globalsign, Hellosign, and Kofax. Dropbox announced the acquisition of Hellosign worth US$ 230 Mn in January 2019. Dropbox aims to use Hellpsign's document workflow and e-signature products to deliver a better customer experience. Another company called Secured Signing announced the launch of an electronic digital signature in march 2019. The e-signature is for Salesforce, enabling the company to connect with their customers in different ways.

Some of The Key Companies Profiled in The Report

• Adobe
• Onespan
• Gemalto
• Ascertia
• Docusign
• Entrust Datacard
• Signix Inc.
• Identrust
• Kofax
• Globalsign
• Zoho Corp
• Rpost Technologies
• Multicert
• Hellosig

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Table of Content:

• Market Dynamics
• Drivers, Restraints and Opportunities
• Emerging Trends of Market
• Key Insights
• Macro and Micro Economic Factors
• Key Technological Developments
• Industry SWOT Analysis
• Global Digital Signature Market Analysis, Insights and Forecast, 2015-2026
• Key Findings / Summary
• Market Sizing Estimations and Forecasts – By Component (US$ Mn)
• Software
• Hardware
• Services
• Managed
• Professional
• Consulting
• Training and Education
• Support and Maintenance
• Market Sizing Estimations and Forecasts – By Deployment (US$ Mn)
• On-Premise
• Cloud
• Market Sizing Estimations and Forecasts – By Organization Size (US$ Mn)
• SMEs
• Large Enterprises
• Market Sizing Estimations and Forecasts – By End User (US$ Mn)
• Banking, Financial Services, and Insurance (BFSI)
• IT and Telecommunication
• Government
• Health care and life sciences
• Education
• Retail
• Real Estate
• Others
• Market Analysis, Insights and Forecast – By Geography (US$ Mn)
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America
• Competitive Analysis
• Strategic Recommendations

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