According to a recent study 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 valuation to hit USD 22.1 billion by the end of the forecast period 2020-2026.
 

Global digital signature market is mainly driven by sustained demand from government and defense sector for various purposes such as tax & returns filing, forms & licenses issuing, treasury orders, public information filing, online government direction, and online money orders among others, cites the study.
 

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Further, surging number of mobile users due to increasing per capita income, growing availability of cheaper mobile phones, and significant improvement in internet download speeds have positively impacted global digital signature market outlook.
 

Notably, features like high security, authentication at multiple levels, tamper proof cryptographic encryption, and certificate-based ID authentication capabilities have favored wide-scale adoption of digital signature across the globe. Moreover, costs saving benefits, and elimination of fraud issues and tedious paperwork are the other factor encouraging the use of digital signatures.
 

Elaborating on application scope, global signature market share from e-commerce segment has tremendously increased, particularly in nations like India and China. This can be credited to rise in online payments due to factors such as proliferating number of mobile phone users, declining internet costs, and broad product portfolio.
 

From a geographical viewpoint, Asia Pacific digital signature industry size will expand considerably during the forecast timeframe, attributable to improving economic conditions, and rapid urbanization facilitated by proactive government measures aimed at industrial development.
 

Speaking of the competitive arena, Adobe, Inc., OneSpan, Gemalto (Thales Group), Ascertia, DocuSign, Inc., Entrust Corp., SunGard Signix, Inc., Secured Signing Ltd., IdenTrust, Inc., and Kofax, Inc. are the major players in global digital signature market.
 

For the record, digital signature operators have to maintain highly reliable and secure systems that cannot be easily bypassed or modified. In case of legal dispute, these operators need to prove their operational reliability through expert verification, which incurs additional costs. Major companies are focusing on eliminating such restraints to gain a larger portion of the market share.