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Digital Signature Market Size, Share And Industry Analysis By Component (Software, Hardware, Services), By Deployment (On-Premises, Cloud), By Organization Size (SMEs, Large Enterprises), By End-User (BFSI, IT And Telecommunication, Government, HealthCare And Life Science, Education, Retail, Real Estate, And Others) And Regional Forecast 2019-2026

Region : Global | Published Date: Oct, 2019 | Report ID: FBI100356| Status : Published

 

KEY INDUSTRY INSIGHTS

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The global digital signature market valued at US$ 879.6 Mn in 2018 and is projected to reach US$ 6,128.0 Mn by the end of 2026, exhibiting a CAGR of 28.77% during the forecast period (2019 – 2026).


Owing to the rapid advances in e-business, there is an increasing need for online security and authentication. Many advanced technologies are developing to serve internet authentication. One of the main issues in e-business operations is the need to replace the hand-written signature with the digital signature.


During online communication, digital signature enables organizations to authenticate and assure the client's identity and records. Digital signatures offer highly precious possibilities for organizations to enter into noncommercial contracts. For example, if the law recognizes digital signatures as valid signatures, an e-mailed job offer would be legal, just as if it were sent in hardcopy and signed by the employer.


Digital signatures authenticate electronic documents the same way as the printed handwritten signatures verify documents. The digital signature market growth is driven by the growing use of digital signatures to eliminate fraud, encourage technological innovations, and improve data integrity, scalability, and transparency.


However, some organizations are not fully aware of the advantages of digital signature solutions, which may hamper the market growth. Controlled and seamless workflow, improved operational efficiency, enhanced end-to-end customer experience, rising investments in electronic documents by governments and enterprises and improved security are the major factors driving the market growth.


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KEY MARKET DRIVERS



  • The increasing need for multifactor authentication and multi-level security across the organization.

  • Rising concerns regarding excess use of paper, as well as time and money required for printing.

  • Demand for cryptographically encrypted signature solutions to avoid misuse of a physical signature.  


MARKET SEGMENTATION


"Increasing adoption of cloud-based digital signature solutions is contributing to the growth of the global digital signature market"


A cloud-based digital signature can be viewed as a model for secure, easy, on-demand network access to safety infrastructure performing digital signature cryptographic activities. Cloud-based e-signature solutions are expected to be the most significant deployment segment as they decrease the e-signature execution operating costs.


The primary difference between a conventional digital signature scheme and a cloud-based system is that while the first one worked in a personal computer near setting and dedicated plug-in devices (microchip card and card reader), the cloud-based system includes network information exchange between the signer and signing-enabled cloud setting.


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Cloud-based digital signing solution designed to secure, automate, and control all the document production to make it more cost-effective and efficient. In a secure and safe interface, cloud handles all elements of digital signing. It is expected that the market would grow remarkably for the 2019 – 2026 forecast.


REGIONAL ANALYSIS


"Increasing financial and legal services across North America would assist the market growth of the digital signature solutions in the region"


The digital signature market in North America generated a revenue of US$ 297.3Mn in 2018 and is anticipated to emerge dominant during the forecast period. The market in the region is likely to be driven by the presence of already established IT infrastructure and the existence of powerful and prominent players across the U.S. working on implementing digital signature systems in different industries.


Moreover, the market in the Asia Pacific generated a revenue of US$ 183.6Mn in 2018 and is expected to witness growth in the investments of the small and medium organizations for adopting the technologically enhanced cloud-based digital signature solutions.


North America Digital Signature Market, 2018

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Due to technological advancements in developing countries such as China and India and government initiatives, the market in Asia Pacific is likely to retain a significant share of the worldwide market in the coming years.


Report Coverage


"A growing trend observed in the penetration of the digital signature software across the industries." 


The report provides qualitative and quantitative insights on the digital signature industry and detailed analysis of digital signature market size & growth rate for all possible segments in the market. The market is segmented by component, deployment, organization size, end-user, and geography. Based on the component, the market is divided into software, hardware, and services. The service segment of the global market is classified into professional services and managed services. By professional services, the market is divided into consulting, training and education, and support and maintenance. By deployment, the market is segmented into on-premise and cloud.


By organization size, the market is classified into SMEs and large enterprises. By end-user, the market is segmented into banking, financial services, and insurance (BFSI), IT and telecommunication, government, healthcare and life science, education, retail, real estate, and others. Geographically, the market has been analysed across five major regions, which are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The regions are further categorized into countries.


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Along with this, the report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights provided in the report are the price trend analysis, recent industry developments such as mergers & acquisitions, the regulatory scenario in crucial countries, macro, and microeconomic factors, SWOT analysis, and key industry trends, competitive landscape and company profiles.


Segmentation






























SEGMENTATION



DETAILS



By Component




  • Software

  • Hardware

  • Services


           o   Managed


           o   Professional


                 §  Consulting


                 §  Training and Education


                 §  Support and Maintenance



By Deployment




  • On-Premise

  • Cloud



By Organization size




  • SME’S

  • Large Enterprises



By End-user




  • Banking, Financial Services, and Insurance (BFSI)

  • IT and Telecommunication

  • Government

  • Health care and life sciences

  • Education

  • Retail

  • Real Estate

  • Others



By Region




  • North America (U.S. and Canada)

  • Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

  •  Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)

  •  Latin America (Brazil, Mexico and Rest of Latin America)



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

  • Hellosign


INDUSTRY DEVELOPMENT:



  • January 2019: Dropbox acquired Hellosign to manage business transactions including eSignature and document-centric workflows. This enabled small and large organizations to build digital signatures and approvals into a broad range of use cases.

  • March 2019: Secured Signing launched Electronic Digital Signature for Salesforce on Salesforce AppExchange, which empowers the businesses to connect with their customers, partners, and employees in several ways.


Frequently Asked Questions

Fortune Business Insights says that the value of the global Digital Signature Market was USD 879.6 Million in 2018

The Digital Signature Market is projected to reach USD 6,128.0 Million by 2026

The Digital Signature Market will grow at the rate of 28.77% CAGR

Digital Signature Market  Size, Share and Global Industry Trend Forecast till 2026
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