According to the recent research report titled ‘Digital Signature Market Share, Size, Trends, Solution Analysis Report By Component; By Deployment; By Application By Regions, Segment Forecast, 2020 – 2026’, available with Market Study Report, global digital signature market is anticipated to amass USD 22.1 billion by the year 2026.
 

Government as well as defense applications utilize digital signatures for several purposes like online money orders, filing of public information, file movements, online government directives & orders, treasury orders, tax & returns filing, and forms & licenses issuing among others, hence surging demand from these sectors is primarily driving the growth of global digital signature market.
 

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Notably, digital signature is known to possess security features such as authentication at multiple levels, cryptographic encryption which is tamper proof, along with potential to offer certificate-based ID authentication, encouraging its adoption by the government on a large scale.
 

The report cites that number of mobile phone users is increasing on account of availability of cheap mobile phones and rising disposable income, stimulating global digital signature market trends. Moreover, the internet download speed has increased by six times as compared to the situation five years ago, facilitating the business scenario. Cost savings linked with digital signatures, ability to reduce tedious paperwork, bypass fraud issues, and ease of use are some of the factors propelling global digital signature market expansion.
 

In the recent past, e-commerce activities in economies such as China and India have hyped and the momentum is expected to continue over the next few years, on account of high penetration of cell phone users, decreasing internet prices and large product portfolio. Thus, increase in online payments is proving to be highly beneficial to the overall growth of global digital signature market.
 

From regional perspective, Asia Pacific digital signature industry is projected to register a decent growth over the assessment period, owing to supportive government plans and improving economic conditions. Growing urban population in the region with smartphone and internet access is also contributing to the industry expansion in APAC.
 

Leading organizations in global digital signature market are Adobe Inc., OneSpan, Gemalto, Ascertia, DocuSign Inc., Entrust Corp. (formerly Datacard Group), SunGard Signix Inc., Secured Signing Limited, IdenTrust Inc., and Kofax Inc.