Digital Signature Market to Increase Gradually by Reaching a Valuation of USD 66.01 billion by 2032; Increasing Number of Government Initiatives to Drive Market Growth

The global digital signature market size is estimated to display strong growth by reaching USD 66.01 billion by 2032. Fortune Business Insights™ in its report titled “Digital Signature Market Size, Share & COVID-19 Impact 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 Telecommunications, Government, Healthcare & Life Science, Education, Retail, Real Estate, and Others), and Regional Forecast, 2024-2032” observes that the market size in 2023 stood at USD 5.25 billion and is expected to reach USD 7.04 billion in 2024. The market is expected to witness a strong CAGR of 32.3% during 2024-2032. Increasing number of government initiatives will expand market development. Further, usage of e-signatures in block chain technology eliminates security concerns.

Docusign, Inc. Announced a Strategic Partnership with GMO GlobalSign to Provide an Efficient Signature Solution

In August 2020, DocuSign, Inc. announced a strategic partnership with GMO GlobalSign to for providing an efficient digital signature solution. The DocuSign Inc. platform will integrate the cloud-based Document Signing Service (DSS) of GMO GlobalSign. The partnership will help DocuSign, Inc. with the integration of cloud-based and e-signature technologies in its service portfolio. 

Growing Number of Businesses Adopted Paperless Transactions 

The COVID-19 pandemic boosted the product adoption and verification due to growing number of online businesses have been adopting and encouraging digital signatures to limit paper-based transactions. The Government of India focused on using the digital platform to support the digital means of signing and verification such as electronic signatures, smart ID/card readers, smooth passes, biometric signatures, and others. Additionally, the Indian government provided a one-time password norm after completing digital KYC for the short-term electronic signature requirement. 

Implementation of the Solution in Blockchain Systems to Propel Market Development

Implementation of e-signatures in blockchain technology is predicted to drive the digital signature market growth. Increasing rate of digitalization has revolutionized the workflow of various industries as companies have been adopting dematerialization. Paperless solutions offer various advantages such as convenience, speed, and superior workflow efficiency. Using digital signature in blockchain assures that the information has traveled to the destination securely. Blockchain systems are gaining traction as identity-backed digital signatures are anticipated to become a vital component in maintaining the traceability of participants.

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Collaboration Strategies by Market Players to Boost Market Growth

Key players of the market have been opting for collaboration and partnership strategies. OneSpan Inc., Thales Group, Ascertia, DocuSign Inc., Adobe Inc., and others are focusing on providing efficient signing solutions. In July 2021, SIGNIUS partnered with Cryptomathic to launch the “Qualified e-Signature Platform”, which is an API-enabled architecture that incorporates other cloud-based enterprise applications to provide a complete digital customer experience and enable remote customer onboarding. It is a convenient and visually accessible user interface. The adoption of cloud-based solutions is steadily gaining traction as companies have been integration cloud-based technologies in the services.

Notable Industry Development

• July 2021: Xerox Emirates partnered with SigniFlow to bring a digital signature solution in the UAE. The partnership will integrate SigniFlow's software into a customized, secure, and accessible business enabler from Xerox Emirates. 

List of Key Companies Profiled in the Report:

• Adobe, Inc. (U.S.)


• OneSpan, Inc. (U.S.)


• DocuSign, Inc. (U.S.)


• Thales Group (France)


• ASSA ABLOY (Sweden)


• GlobalSign, Inc. (Belgium)


• Entrust Corporation (U.S.)


• Ascertia Limited (Surrey)


• SIGNiX, Inc. (U.S.)


• IDEMIA (France)

Further Report Findings

• Cloud-based deployment is expected to have the maximum part in the market as there have been constant developments and security advancements, which boosted the demand and need for cloud-based solutions and services.


• The market in North America stood at USD 1.62 billion in 2022 due to increasing adoption of digital technologies, which is expected to drive the digital signature market share. Increasing number of legal signatures in the U.S. territories and states is set to propel market growth.


• Asia Pacific is expected to grow significantly with initiatives by the government to improve digitalization.


• Europe is estimated to witness a surge in the market growth due to new rules & regulations such as eIDAS, a regulation on electronic identification and trust services for electronic transactions formed by the European Union.

Table of Segmentation