Global Digital Signature Market Expected to Grow at 31.5% CAGR During 2016 - 2022: P&S Market Research

Mar 31, 2016, 07:30 ET from P&S Market Research

NEW YORK, March 31, 2016 /PRNewswire/ --

According to market research report "Global Digital Signature Market Size, Share, Development, Growth and Demand Forecast to 2022 - Industry Insights by Solution (Software and Hardware), by Service (Managed and Professional), by Deployment Type (Web-Based, On-Premises, and Cloud-Based), and By Application (Government, IT, Healthcare, Finance, Telecom, Retail, and Others)" published by P&S Market Research The global digital signature market is expected to increase from $501.7 million in 2015, and reach $3,318.6 million by 2022, growing at a CAGR of 31.5%.

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The implementation of the government paperwork elimination act, increasing use of digital signature to eliminate fraud, and enhanced security and control by the use of digital signature, are some of the factors driving the growth of the global digital signature market. The massive unexplored markets across the globe are expected to give a major boost to the growth of the global digital signature market in the future.

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Digital signatures refer to the electronic data that carries the intent of a signature. The digital signatures enhance the scope for communication between the users; and the public and private sectors. Digital signature software is designed to gather signatures, without printing or signing a physical document. Digital signature software allows companies or individuals to reduce the cycle time for gathering signature, as well as reduce the cost of gathering and storing signatures on paper. They are a way to speed up legal paperwork, by replacing physical contract documents with electronic alternatives.

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Among the various solutions, the software based digital signature segment dominated the global market in 2015, by holding a significant amount of market share. In 2015, North America became the largest digital signature market. The Asia-Pacific market is growing at a rapid pace, due to the improving BFSI sector, and initiatives taken by various government associations to enhance the use of digital technology in the countries of Asia-Pacific, such as China and India.

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The major companies operating in the global market include Adobe Systems Incorporated, Secured Signing Limited, SIGNiX Inc., Entrust Datacard Corporation, RPost, Ascertia, Docusign, Inc., eSignLive, and Gemalto, N.V.

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