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Digital Signature Market Size to Reach $7.99 Billion by 2027; Rising Knowledge about Electronic Signatures Effectiveness to Fuel Demand

October 13, 2020 | Information & Technology

The global digital signature market size is expected to reach USD 7.99 billion by 2027. The growing popularity of paperless workflow and e-businesses will spur lucrative Business opportunities for the market, mentioned in a report, titled Digital Signature Market Size, Share & COVID-19 Impact Analysis, By Component (Software, Hardware, and Services), By Deployment (Cloud, and On-Premises), By Enterprise Size (Large Enterprises and Small & Medium Enterprises), By Industry (BFSI, IT and Telecommunications, Government, Healthcare & Life Science, Education, Retail, Real Estate, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 1.10 billion in 2019 and is expected to exhibit a CAGR of 28.9% between 2020 to 2027.


Collaboration of OneSpan and Avaloq to Aid Market Development


OneSpan™, a major leader in software for trusted identities e-signatures and secure transactions announced that it has signed a partnership agreement with Avaloq, a fintech leader and provider of software as a service (SaaS) and business process as a service (BPaaS) solutions to financial institutions. The partnership will enable the integration of OneSpan solutions into Avaloq’s cloud-based banking platform. These integrations will expedite faster and convenient transactions and also secure OneSpan’s solutions from frauds and hackers through open APIs. Furthermore, OneSpan’s solutions are integrated into Avaloq’s platform, which is used by top financial institutions such as HSBC, Barclays, Royal Bank of Scotland, Deutsche Bank, and Societe Generale. The integration also allows banks to easily add mobile authentication, transaction signing, and multifactor authentication. Besides, the partnership with Avaloq allows OneSpan’s strategic global alliances program to connect the world’s leading integrators and third-party technologies with OneSpan’s Trusted Identity (TID) platform.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/digital-signature-market-100356


Rising Importance of Enhanced Customer Experience to Augment Growth


The increasing focus on enhanced customer experience among organizations through digital platforms will create lucrative business opportunities for the market. Companies are focused on improving the customer experience because it plays an integral part in customer loyalty and brand name, hence boosting the business. The growing adoption of digital technologies to enrich the customer experience by companies will intensify market growth in the forthcoming years. For instance, 2018, IDC stated that around 2,000 global companies’ CEOs are adopting digital strategies to improve customer experience. The growing awareness about the advantages of digital signature such as fast and convenient options for customers will further incite the growth of the market.


Strategic Collaborations among Key Companies to Consolidate Business


The leading players in the market such as OneSpan Inc., Thales Group, Ascertia, DocuSign Inc., Secured Signing Limited, Kofax are concentrated on efficient signing solutions. The strategies implemented by the companies to provide advanced cloud-based solutions will help to establish a strong foot in the industry. Additionally, the introduction of mobile-based apps for digital signing solutions by major companies will bolster the healthy growth of the market. For instance, in October 2019, Adobe signed a partnership with Box Inc to introduce the Acrobat web experience with Box. The new solution will help modify, sign, or organize a PFD file directly through Box.


The Report Lists the Main Companies in the Digital Signature Market:



  • Adobe, Inc. (California, United States)

  • OneSpan, Inc. (Illinois, United States)

  • Oracle Corporation (California, United States)

  • Ascertia Limited (Guildford Surrey, UK)

  • DocuSign, Inc. (California, United States)

  • Entrust Datacard Corp. (Minnesota, United States)

  • Dropbox Inc. (California, United States)

  • SIGNiX, Inc. (Tennessee, United States)

  • Secured Signing Limited (Auckland, New Zealand)

  • IdenTrust, Inc. (Utah, United States)

  • Kofax, Inc. (California, United States)

  • Rpost Technologies (California, United States)

  • Thales Group (Gemalto) (La Défense, France)

  • Salesforce.Com, Inc. (California, United States)

  • Multicert (Oeiras Portugal)

  • GlobalSign Ltd (New Hampshire, United States.)

  • Citrix Systems. Inc, (Rightsignature) (Florida, United States)

  • Secrypt GmbH (Berlin Germany)

  • HelloSign (California, United States)

  • PandaDoc, Inc. (California, United States)

  • SignNow (airSlate, Inc.) (Texas, United States)

  • SignRequest (Amsterdam, The Netherlands)


Further Report Findings:



  • Regional Analysis: The market for digital signature in Europe is expected to expand radically during the forecast period due to the growing cognizance of e-business. The European Parliament and the Council provided regulation on electronic identification and trust services (eIDAS) in 2016, which enabled smooth electronic transactions. The rapidly growing small and medium enterprises will promote growth in the region.

  • Leading Segment: The software market is expected to hold the largest share owing to its capability to offer instant electronic signature conversion, thus fueling its demand among various organizations.


The global Digital Signature Market is Segmented into:














































 ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Billion)



Segmentation



By Component



  • Software

  • Hardware

  • Services


    • Managed

    • Professional


      • Consulting

      • Training & Education

      • Support & Maintenance





By Deployment



  • Cloud

  • On-Premises



By Enterprise Size



  • Large Enterprises

  • Small & Medium Enterprises



By Industry



  • BFSI

  • IT & Telecom

  • Government

  • Healthcare & Life Science

  • Education

  • Retail

  • Real Estate

  • Others



By Region



  • North America (The U.S., and Canada)

  • Europe (The U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)

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

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

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


Digital Signature Market
  • PDF
  • 2019
  • 2016-2018
  • 140

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

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