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South America Digital Signature Market Size, Share & COVID-19 Impact Analysis, By Deployment (Cloud and On-Premise), By Enterprise Type (Small and Medium Enterprises and Large Enterprises), By Level (Advanced Electronic Signatures (AES) and Qualified Electronic Signatures (QES)), By End User (BFSI, IT & Telecommunication, Government, Healthcare and Life Science, Education, Retail, Real Estate, and Others (Defense & Legal)), and Regional Forecast, 2023-2030

Last Updated: June 10, 2024 | Format: PDF | Report ID: FBI107412

 

KEY MARKET INSIGHTS

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South America is the third largest region in the global digital signature market. It is projected to grow at a CAGR of 34.8% during the forecast period. The global market for digital signature is projected to grow from USD 3.92 billion in 2022 to USD 43.14 billion by 2030.


Adopting digital technologies across the region boosts the region’s productivity and growth. It also significantly affects various health, education, and government services. In Brazil, the usage of certificates and electronic-based digital signatures is developing in the business communities and by public entities. Additionally, more laws and provisional measures have been issued about using electronic or digital signatures for businesses and governmental bodies to enable electronic or digitally signed documents.


Moreover, Argentina's use of electronic and certificate-based signatures has increased in recent years. The public sector business entities broadly use these type of signatures for internal processes and promotes them by third parties. Additionally, businesses familiar with electronic and digital signatures implement them as directed by foreign laws. Thus, it is expected to increase the growth of the market in Argentina.


Our report on the South America digital signature market covers the following countries/regions – Brazil, Argentina, and the Rest of South America.


LATEST TRENDS


Adoption of Digital Signature by the End Users Propels Market Growth


The recent trends show an emerging interest in the end user industries moving to e-signature tools to streamline their processes and improve regional productivity. The banking sector is shifting its focus from in-person communications to high-end digital ones. Financial services such as retail banks, credit unions, commercial banks, moneylenders, and other organizations have adopted these signatures for various use cases. Moreover, integrating this type of signature platforms in healthcare organizations and medical professionals will allow healthcare professionals to handle paperwork from preparation and production to ID verification, compliance, and access considerations for people with disabilities.


DRIVING FACTORS


Increase in Demand for Multifactor Authentication across Businesses Accelerate Market Growth


Two-factor authentication methods protect users against digital identity theft. It accesses online accounts and information to prove ownership or permission. It ensures the document's authenticity with the employment of cryptographic methods such as digital certificates. It guarantees that the signers are authentic and are incorporated in digital signature certificates at a certain cybersecurity level.


RESTRAINING FACTORS


Lack of Integrated Digital Signature Experience Limit the Market Growth


Despite growing popularity and adoption, authentication issues also arise when companies use e-signature solutions for contracts. An e-signature may be copied easily as a wet-ink signature, which creates a difference in the authenticity of an e-signature. Additionally, cyber-attacks across organizations due to the absence of proper care, altering the document's content, re-creation of the signature, and attaching to the changed document cause damage to a business status, internal controls, and bottom line.


Thus, lack of authentication of digital signatures by organizations hinders the South America digital signature market growth.


KEY INDUSTRY PLAYERS


In terms of the competitive landscape, Certisign Digital Certification SA, Portalflex (PFX), Contraktor, PETRONECT, and i4pro are the key players of the South America market, focused on strengthening their product portfolio and active involvement in R&D investments & distribution network through strategic collaboration and partnerships for the acceleration of product launches. This leads to increasing the South America digital signature market share.


LIST OF KEY COMPANIES PROFILED:



KEY INDUSTRY DEVELOPMENTS:



  • September 2022: SocialPath partnered with Viafirma, a digital signature company, to signify and integrate its solutions in the South America market. This partnership will allow SocialPath users to access Viafirma's solutions, possibly from any place and device such as mobile, PC or tablet.


REPORT COVERAGE


To gain extensive insights into the market, Request for Customization


The South America digital signature market research report provides qualitative and quantitative insights into the market and a detailed analysis of the South America market size & growth rate for all possible segments in the market. The research report elaborates on the market dynamics, competitive landscape, and the South America market forecast. Various key insights presented in the report are an overview of the adoption of technology, an overview of price analysis, an overview of the regulatory scenario by key countries, new product launches, key industry developments – mergers, acquisitions & partnerships, and the impact of COVID-19 on the market.


Report Scope & Segmentation






























































  ATTRIBUTE



  DETAILS



Study Period



2019-2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023-2030



Historical Period



2019-2021



Growth Rate



CAGR of 34.8% from 2023 to 2030



Unit



Value (USD Billion)



Segmentation



By Deployment, Enterprise Type, Level, End User, and Country



By Deployment




  • Cloud

  • On-Premise



By Enterprise Type




  • Small Medium Enterprise

  • Large Enterprise



By Level




  • Advanced Electronic Signatures (AES)

  • Qualified Electronic Signatures (QES)



By End User




  • BFSI

  • IT & Telecommunication

  • Government

  • Healthcare and Life Science

  • Education

  • Retail

  • Real Estate

  • Others (Defense & Legal)



By Region




  • South America (Deployment, Enterprise Type, Level, End User, Country)


    • Brazil (By End User)

    • Argentina (By End User)

    • Rest of South America







Frequently Asked Questions

Growing at a CAGR of 34.8%, the market will exhibit steady growth in the forecast period (2023-2030).

The increase in demand for multifactor authentication across businesses is the major factor driving the market growth.

Certisign Digital Certification SA, Portalflex (PFX), Contraktor, PETRONECT, and i4pro are the major players in South America.

Brazil dominated the market in 2022.

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