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Digital Signature Market Size, Share & Industry Analysis, By Deployment (Cloud and On-Premises), By Enterprise Size (Large Enterprises and Small & Medium Enterprises), By Level (Advanced Electronic Signatures (AES) and Qualified Electronic Signatures (QES)), By End User (BFSI, IT and Telecom, Government, Healthcare & Life Science, Education, Retail, Real Estate, and Others), and Regional Forecast, 2024-2032

Last Updated: May 06, 2024 | Format: PDF | Report ID: FBI100356



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The global digital signature market size was valued at USD 5.25 billion in 2023. The market is projected to grow from USD 7.04 billion in 2024 to USD 66.01 billion by 2032, exhibiting a CAGR of 32.3% during the forecast period.

A digital signature helps prove the origin, identity, and status of an electronic document, transaction, or digital message. The signatory also uses it to verify informed consent. A digital type of signature of an electronic message is created using a form of cryptography and is equivalent to a person’s written signature. It provides a unique electronic link between the signer's identity and the message's origin.

Increased government backing is likely to stimulate the digital signature market growth. For instance, until December 2020, the Securities and Exchange Board of India (SEBI), India’s market regulator, permitted publicly traded corporations to employ electronic signature certifications for filing of stock exchanges under specific disclosure rules.

The COVID-19 pandemic boosted the adoption of digital signatures and verification. The growing number of online and remote work commitments drove industries to use digital technologies to stay in business. Several governments were adopting and encouraging digital type of signatures to limit paper-based transactions and maintain social distance norms.

Digital Signature Market Trends

Blockchain Technology in Digital Signature to be Prominent Market Trend

The rising acceptance of dematerialization by most companies is one of the key factors driving the market growth. The growing popularity of the paperless system has created a demand for electronic authorization. Moreover, blockchain technology or Distributed Ledger Technology (DLT), apart from its application in cryptocurrencies, such as Bitcoin and Ethereum, is increasingly gaining popularity among cybersecurity, politics, and data analytics sectors. In the context of electronic signatures, blockchain is an ideal approach to protecting a document’s integrity after the signing process.

Furthermore, using digital signatures in blockchain assures that the message/information that started from the source and has traveled to the destination is secure. According to an October 2021 eMudhra report on blockchain, all transactions are digitally signed to ensure transaction integrity and non-tampering of data. As blockchain systems gain traction, identity-based digital signatures are anticipated to become a vital component in maintaining the traceability of participants to transactions, such as Smart Contracts performed on the blockchain.

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Digital Signature Market Growth Factors

Need for Improved Security, Operational Efficiency, and Seamless Workflow to Propel Market Growth

Previously, managing, storing, and tracking documents took a long time, further delaying other work processes. Besides, the need for improved operational efficiency and concern regarding data security have led to the emergence of these signatures. For banking & insurance, retail, real estate, and government sectors, the security of digital information transferred among individuals or departments is of utmost importance. Therefore, these large transaction-driven businesses have begun incorporating digitally-enabled signatures in their work process to meet their need for secured online transactions. This technology is considered ideal for highly regulated industries as it can prove the integrity and authenticity of the document. It also assists companies in saving time, space, and money, while improving business productivity. Similarly, organizations’ need for authentication and multi-level security encourages them to opt for digitally-enabled signatures.

Moreover, digital signatures are being utilized by numerous countries in the European Union, Asia, and the Americas to enhance the security and effectiveness of legal documents. By adopting this technology, businesses can attain greater transparency, improved efficiency, enhanced document integrity, protection against fraud, and significant cost savings. In fact, it enables businesses to reduce their document handling expenses by a minimum of 80%.


Lack of Awareness Regarding Legality and Benefits of Digital Signature to Hinder Market Growth

The demand for digitalization is rapidly growing across industries. However, the adoption of electronic signatures is lower in some developing economies as compared to developed countries. This is due to lack of awareness of the benefits of these signatures. Lack of knowledge and misconceptions regarding its legality are impeding its adoption. Companies are reluctant to utilize the technology owing to the various rules and regulations associated with it. Furthermore, rising number of cyberattacks and growing data security concerns are likely to limit the digital execution of business processes. Therefore, such factors are likely to hinder the market growth.

Digital Signature Market Segmentation Analysis

By Deployment Analysis

Growing Developments in Cloud Technology to Boost Cloud-based Digital Signature Demand

Based on deployment, the market is categorized into on-premises and cloud. The cloud segment is expected to gain maximum market share during the forecast period with technological developments and security advancements. Furthermore, to form new standards for cloud-based electronic signatures that are in-line with business and government regulations, business providers have created an international group called Cloud Signature Consortium.

The on-premises segment is also expected to hold a significant market share owing to the increasing concerns about cloud security. Many businesses, such as those in healthcare, government, and medical sectors must adhere to strict state and federal laws that regulate the security of their data and digital signature procedures. To meet these regulations, these companies often need to use on-premises digital signature solutions. This has been one of the reasons for preferring the on-premises deployment.

By Enterprise Size Analysis

Increasing E-Business Trend to Boost Large Enterprises Market Share

Based on enterprise size, the market is segmented into large enterprises and small & medium enterprises. The large enterprises segment is expected to dominate the market during the forecast period. The growing implementation of e-business and the paperless system is fueling the adoption of these solutions among large enterprises. Besides, an increasing IT budget will also boost the implementation of advanced digitalized solutions across large enterprises. The small & medium enterprises segment is expected to show the highest CAGR during the forecast period. The growing acceptance of digitalization to improve efficiency in the business process is one of the significant factors contributing to the growth of the SME segment.

By Level Analysis

Need for Higher Level Security Contributing to AES Segment Growth

Based on level, the market is analyzed into Advanced Electronic Signatures (AES) and Qualified Electronic Signatures (QES).

The Advanced Electronic Signature (AES) segment dominated the market in 2022 as it offers a higher level of security, with signer protection and verification from tampering. It is the simpler of the two types of electronic signatures defined by the U.K. and European regulations. The Qualified Electronic Signature (QES) segment is expected to showcase the highest CAGR during the forecast period owing to an increased need for these signatures for high-risk and high-value documents, such as high-dollar agreements, including mortgages or loans.

By End User Analysis

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BFSI to Show Rapid Growth Owing to Increasing Demand for Better Customer Services

By end user, the market is divided into BFSI, IT & telecom, government, healthcare & life science, education, retail, real estate, and others.

The BFSI segment is expected to show exponential growth owing to the rapid shift toward online platforms to provide streamlined services. This boosted the sales of this industry. Similarly, the healthcare segment is expected to show significant growth owing to the rising adoption of digital systems for medical documentation and payment invoices. In addition, adopting electronic signatures in the retail industry is improving employee and customer satisfaction. The rising trend of e-governance across countries will likely drive the market growth over the forecast period.


Regionally, the market is studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

North America Digital Signature Market Size, 2023 (USD Billion)

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North America is expected to hold the largest digital signature market share during the forecast period. The region is an early adopter of digital technologies, thus boosting the regional market growth. Electronic signatures are legal in every state and the U.S. territory where federal law applies, according to the U.S. Electronic Signatures in Global and National Commerce (ESIGN) Act of 2000. Furthermore, where federal law does not apply, the Uniform Electronic Transactions Act (UETA) has been approved by majority of the U.S. states.

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Asia Pacific is expected to grow significantly owing to increasing government initiatives to improve digitalization across industries. The government of India is focusing on providing e-signature facilities and has passed a law under the IT Act, 2000 to legalize e-signature. In China, the government has proposed the E-signature Law and highly promotes digitized signatures for documentation. This is likely to drive the market growth in Asia Pacific.

Europe is expected to grow rapidly during the forecast period owing to increasing e-business systems across industries. New regulations, such as eIDAS, a regulation on electronic identification, and trust services for electronic transactions formed by the European Union, are implementing precise requirements for securely signed documents. This is expected to influence the market across the region. The cloud signature consortium aims to make it easy for European governments and businesses to comply with the eIDAS regulation effectively.

The Middle East & Africa will grow steadily during the forecast period. The GCC is expected to gain traction owing to increasing investment in the region. For instance, Adobe, Inc. has collaborated with the federal telecommunications regulatory agency of the United Arab Emirates (U.A.E.) and the Telecommunications Regulatory Authority (TRA) to provide digital signature technology. Similarly, Latin America will likely show significant growth during the forecast period.

List of Key Companies in Digital Signature Market

Growing Strategic Collaborations Among Companies to Expand Product Portfolio

The key market players, such as OneSpan Inc., Thales Group, Ascertia, DocuSign Inc., Adobe Inc., and others, are focusing on providing efficient signing solutions. The companies are collaborating to extend their presence. They are entering strategic partnerships to provide advanced cloud-based solutions. The companies are also investing in offering a mobile apps for digital signing solutions. In addition, many digital signature creators also offer free service for some of the documents.

  • March 2023: London-based RegTech startup, docStribute, introduced its digital signing solution called dSign. By combining the power of DLT with its flagship product dSend, the company has made it possible for businesses of all sizes to easily access and utilize digital signatures. With affordable, fixed fees, docStribute has made digital signatures accessible to all sectors.

List of Key Companies Profiled:


  • February 2023 – Zoho updated its Zoho Sign service for ISVs and OEMs. This service enabled software vendors and equipment manufacturers to incorporate Zoho's digital signature features into their products. It offers robust APIs, mobile SDKs for seamless app integration, SSO authentication, and the ability to fully customize the branding for a stronger brand identity.

  • January 2023 – DocuSign collaborated with TechnoBind to introduce eSignature technology to the Indian market, in line with the Digital India campaign. This partnership utilized DocuSign's range of applications and integrations to streamline the entire agreement process, including eSignature, contract lifecycle management, and document creation.

  • September 2022– IDnow, a European provider of identity verification platforms, partnered with Adobe Document Cloud to make identity verification of verified signatures easier and more secure. Integration with IDnow enabled Adobe Acrobat Sign users to validate their identity using either IDnow videoident or autoident and build legally binding electronic signatures after the solution is deployed.

  • June 2022 Entrust, a security software provider from the U.S., had acquired Evidos, a Netherlands-based company specializing in cloud-based electronic signatures and identity verification solutions. This acquisition brought together Evidos' efficient electronic signature workflow solutions with Entrust's secure certificate-based digital signature solutions.

  • February 2022 – Smart Communications announced its partnership with OneSpan to enhance customer interactions through the integration of electronic signature. This collaboration aimed to streamline the digital agreement processes, improve operational efficiency, and ultimately enhance the overall customer experience. By working together, joint customers can achieve higher levels of customer satisfaction, increase application completions, and reduce the time it takes to generate revenue. Additionally, this partnership ensures compliance with regulations.


An Infographic Representation of Digital Signature Market

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The report highlights leading regions across the world to offer a better understanding of the market. Furthermore, it provides insights into the latest industry trends and analyzes technologies being deployed at a rapid pace at the global level. It further highlights some growth-stimulating factors and restraints, helping the reader gain in-depth knowledge about the market.




Study Period


Base Year


Estimated Year


Forecast Period


Historical Period


Growth Rate

CAGR of 32.3% from 2024 to 2032


Value (USD billion)


By Deployment

  • Cloud

  • On-Premises

By Enterprise Size

  • SMEs

  • Large Enterprises

By Level

  • Advanced Electronic Signatures (AES)

  • Qualified Electronic Signatures (QES)

By End User

  • BFSI

  • IT & Telecom

  • Government

  • Healthcare & Life Science

  • Education

  • Retail

  • Real Estate

  • Others (Defense & Legal)

By Region

  • North America

    • U.S. (By End User)

    • Canada (By End User)

    • Mexico (By End User)

  • Europe

    • U.K. (By End User)

    • Germany (By End User)

    • France (By End User)

    • Italy (By End User)

    • Spain (By End User)

    • Russia (By End User)

    • Benelux (By End User)

    • Nordics (By End User)

    • Rest of Europe

  • Asia Pacific

    • China (By End User)

    • Japan (By End User)

    • India (By End User)

    • South Korea (By End User)

    • ASEAN (By End User)

    • Oceania (By End User)

    • Rest of Asia Pacific

  • Middle East & Africa

    • Turkey (By End User)

    • Israel (By End User)

    • GCC (By End User)

    • South Africa (By End User)

    • North Africa (By End User)

    • Rest of Middle East & Africa

  • South America

    • Brazil (By End User)

    • Argentina (By End User)

    • Rest of South America

Frequently Asked Questions

The market is projected to reach USD 66.01 billion by 2032.

In 2023, the market was valued at USD 5.25 billion.

The cloud segment is expected to hold a significant share in the global market.

Need for improved security, operational efficiency, and seamless workflow is expected to propel the market growth.

Adobe, Inc., OneSpan Inc., DocuSign, Inc., Thales Group, Ascertia, SIGNiX, Inc., and others are some of the major players in the market.

North America is expected to hold the highest market share.

Europe is expected to record the highest CAGR.

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