With the increasing usage of electronic platforms for reducing paperwork, the global digital signature market, which valued $1,534.8 million in 2019, is projected to advance to $23,949.7 million by 2030, at a CAGR of 28.6% between 2020 and 2030 (forecast period). Digital signatures not only help save time and paper expenditure, but they also make the transaction secure.
Throughout the forecast period, the cloud bifurcation will dominate the digital signature market, as this mode of deployment helps authenticate the documents through a cloud-hosted service, which does away with the need for having a physical platform installed. Additionally, this deployment mode offers mobility by storing the users' signing key on the cloud, which enables document signing from any internet-connected device.
The software category generated the highest revenue in the digital signature market during the historical period (2014-2019), due to the rising awareness within various industries about the improved technologies available and rising focus on digitization.
Till 2030, the highest CAGR in the digital signature market, of 30.4%, is predicted to be seen by the banking, financial services, and insurance (BFSI) classification. This is attributed to the rising acceptance of digital signatures for digital payments, need to make financial transactions safer and more secure, and requirement for streamlined and cost-effective records. Further, companies in the sector are stepping up efforts to reduce their paperwork and replace it with auditable and accurate workflows powered by digital signatures.
In 2019, North America held the largest digital signature market share, on account of the supportive regulations implemented by the government of Canada and the U.S. Further, the adoption of digital signatures is rising in the BFSI and healthcare sectors of the region. In the coming years, the fastest market advance would be experienced in Asia-Pacific (APAC), with the concerns regarding cyber security and need to reduce frauds increasing here. Further, the regional governments are taking numerous initiatives to encourage the adoption of digital technologies, with a view to decrease the paperwork.
Adobe Inc., Entrust Datacard Corporation, Secured Signing Limited, DocuSign Inc., Ascertia Limited, SIGNiX Inc., Gemalto N.V., RPost Communications Limited, Thales eSecurity Inc., eSign Genie, Glykka LLC, IndenTrust Inc., DocVerify Inc., Symtrax Holdings Inc., KeepSolid Inc., SignaShare, Zoho Corporation Pvt. Ltd., and GetAccept Inc. are the key global digital signature market players.
Market Players Launching New Products to Strengthen their Position
The companies operating in the digital signature market are stepping up effort to gain a larger industry share, by increasingly launching new products that:
Let users sign and authenticate documents on Google Drive
Allow for the signing of multiple documents at once
Save time of clients and enable faster sending out of templates
Offer automated contract creation and clear audit trails
Help small enterprises complete agreements, including contracts, quotes, and sales orders
Key Topics Covered
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction 4.1 Definition of Market Segments 4.1.1 By Component 126.96.36.199 Software 188.8.131.52 Hardware 184.108.40.206 Service 220.127.116.11.1 Managed 18.104.22.168.2 Professional 4.1.2 By Deployment Type 22.214.171.124 Cloud 126.96.36.199 On-premises 4.1.3 By Vertical 188.8.131.52 Government 184.108.40.206 BFSI 220.127.116.11 IT & Telecom 18.104.22.168 Healthcare 22.214.171.124 Retail 126.96.36.199 Others 4.2 Value Chain Analysis 4.3 Market Dynamics 4.3.1 Trends 188.8.131.52 Increasing Use of Digital Signatures in Healthcare Sector 184.108.40.206 Use of Digital Signatures With Blockchain Technology 4.3.2 Drivers 220.127.116.11 Increasing Adoption of Digital Signature-Based Biometrics in BFSI Sector 18.104.22.168 Government Policies Supporting Market Growth 22.214.171.124 Growing Usage of Digital Signature to Eliminate Paperwork 126.96.36.199 Impact Analysis of Drivers on Market Forecast 4.3.3 Restraints 188.8.131.52 High Cost Associated With Digital Signature Solutions and Availability of Conventional Alternatives 184.108.40.206 Impact Analysis of Restraints on Market Forecast 4.3.4 Opportunities 220.127.116.11 Untapped Markets to Pose Growth Opportunities for Market Players 18.104.22.168 Growing E-Business Across the Globe 4.4 Porter's Five Forces Analysis
Chapter 5. Government Regulations 5.1 US 5.2 Canada 5.3 Europe 5.4 UAE 5.5 Brazil 5.6 China 5.7 India 5.8 Japan 5.9 Australia
Chapter 6. Global Market Size and Forecast 6.1 By Component 6.1.1 Service, by Type 6.2 By Deployment Type 6.3 By Vertical 6.4 By Region
Chapter 7. North America Market Size and Forecast
Chapter 8. Europe Market Size and Forecast
Chapter 9. APAC Market Size and Forecast
Chapter 10. LATAM Market Size and Forecast
Chapter 11. MEA Market Size and Forecast
Chapter 12. Market Segment Breakdown of Major Countries 12.1 U.S. Digital Signature Market, by Component 12.2 U.S. Digital Signature Market, by Vertical 12.3 Germany Digital Signature Market, by Component 12.4 Germany Digital Signature Market, by Vertical 12.5 U.K. Digital Signature Market, by Component 12.6 U.K. Digital Signature Market, by Vertical 12.7 France Digital Signature Market, by Component 12.8 France Digital Signature Market, by Vertical 12.9 China Digital Signature Market, by Component 12.10 China Digital Signature Market, by Vertical 12.11 Japan Digital Signature Market, by Component 12.12 Japan Digital Signature Market, by Vertical 12.13 India Digital Signature Market, by Component 12.14 India Digital Signature Market, by Vertical
Chapter 13. Competitive Landscape 13.1 List of Market Players and Their Offerings 13.2 Market Share Analysis of Key Players 13.3 Strategic Developments of Market Players 13.3.1 Mergers and Acquisitions 13.3.2 Product Launches 13.3.3 Partnerships
Chapter 14. Company Profiles 14.1 Adobe Inc. 14.1.1 Business Overview 14.1.2 Product and Service Offerings 14.1.3 Key Financial Summary 14.2 OneSpan Inc. 14.3 Secured Signing Limited 14.4 SIGNiX Inc. 14.5 Entrust Datacard Corporation 14.6 Ascertia Limited 14.7 Docusign Inc. 14.8 Gemalto N.V. 14.9 Thales eSecurity Inc. 14.10 IdenTrust Inc. 14.11 RPost Communications Limited 14.12 Sertifi Inc. 14.13 Citrix Systems Inc.