The global digital signature market is estimated to garner US$ 17.5 Billion while exhibiting a 20.6% CAGR during the forecast period. The growing support from several governments is likely to fuel the market growth in the coming years. The industry is expected to secure US$ 2.7 Billion in 2022.
Due to its higher reliability and security compared to other types of electronic signatures Global digital signature market is flourishing with high rate. Digital Signature are used in wide range of application including financial transactions, contract management software, software distribution, etc. is also propelling the growth of the overall market. However, the lack of stringent government regulations and data protection laws, may act as a huge restraint for market growth in developing and underdeveloped countries.
The increasing significance of digital signature has encouraged the government of various countries to make investments in the sector, which is likely to benefit the market. The deployment segment is likely to offer remunerative opportunities for the global commercial satellite imaging market. Several emerging economies are making significant developments in their digital signature budgets, thereby, providing lucrative opportunities to players in the market.
Key Takeaways:
•The global digital signature market to experience a CAGR of 20.6% from 2022 to 2030.
By deployment, the on-premises segment is expected to record an 16.2% CAGR by 2032.
•By Industry vertical, BFSI segment to expand at a 21.1% growth rate during the forecast period.
• The U.S market to garner US$ 7.5 Billion and record a 21.6% CAGR from 2022-2032.
• Market in China to procure US$ 1.8 Billion, expanding at a 22.9% growth rate during the assessment period.
“Increasing need for user authentication and smooth digital transaction management is likely to encourage various countries to strengthen their digital signature market, which will benefit the market in the forecast period.”
Competitive Landscape
Key players in the global commercial satellite imaging market Adobe Systems, Ascertia, Docusign Inc., Entrust Datacard Corporation, SIGNiX among others. Recent developments among key players are:
• In May 2021, Entrust Datacard Corporation launched its remote signing service (RSS) solution, with the goal of enabling trust for increasingly dispersed workforces, by integrating high-assurance, verifiable employee signature capabilities into document apps and workflows. The requirement to support new remote business scenarios has grown as enterprises move to the cloud and their workforces become more widespread.
• In February 2020, Secured Signing Limited released new improvements to the signing processes and account reporting, to save workflow settings for individual forms, thereby enabling users to send out templates faster. The new enhancements include template workflow setting, integration with JobAdder software platform, and enhancements to the platform integrated with Salesforce.com
