Global Digital Signature Market to 2023: Breakdown by BFSI, Government & Defense, Legal, Real Estate, HR, Manufacturing & Engineering, Healthcare & Life Sciences Industries
DUBLIN, Feb. 15, 2019 /PRNewswire/ --
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.
The 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.
Major growth factors for the market include improved operational efficiency, reduced Operational Expenditure (OPEX), improved security, and increased adoption of digital signature solutions to securely sign the documents. Scattered regulations in some regions and lack of awareness related to the legality of the digital signature may restrain the market growth.
Banking, financial services and insurance segment to grow at the highest rate during the forecast period
The digital signature market by application comprises Human Resource (HR); education and research; Banking, Financial Services and Insurance (BFSI); government and defense; healthcare and life sciences; legal; real estate; manufacturing and engineering; others (retail, transit, energy and utilities, telecom, operations, sales and marketing, pharmaceuticals, and procurement).
The BFSI segment is expected to grow at the highest rate because it helps these firms simplify the complex processes, with enhanced security, improve turnaround time for onboarding a customer, to go paperless by automating the document workflow, and meet the regulatory compliances.
Among regions, Europe to grow at the highest CAGR during the forecast period
Europe has distinctively been one of the fastest-growing markets in terms of rapidly adopting digital signature solutions. The digital signature market is also termed as the next big boom with regards to the ever-increasing adoptions across this region.
The digital signature market in Europe has gained traction because of the high demand for high-end security solutions, an increase in the digitalization, legal compliances, and regulations, such as eIDAS. Moreover, the rapid growth of the digital signature market in the region can be attributed to the active online engagement of consumers in the emerging countries of the region.
The extensive facilities to deploy and manage digital signature solutions at a low cost of ownership is boosting the market growth in this region. Furthermore, various international and domestic enterprises located in this region are partnering with digital signature solution providers to enhance offerings to local clients. The developed European countries, such as the UK, Germany, France, have expansively considered the use of digital signature solutions and services.
The growth of this region can be attributed to the increased demand for digital signature solutions and advancements in digital technologies. Moreover, regulatory compliance by government and legal laws are benefitting all stakeholders present in the digital signature ecosystem in Europe.
The UK, Germany, and France are among the key countries considered for the digital signature market analysis in this region. Additionally, the rapid expansion of local players, as well as global enterprises, in Europe is also one of the important factors that are influencing the growth of the digital signature market.
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/qzf4wd/global_digital?w=5
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