Global Digital Signature Market to Record 28% CAGR Through 2025

February 18, 2021

According to a research report titled ‘Global digital signature Market Analysis, 2020’, available with Market Study Report LLC, global digital signature market is anticipated to garner substantial returns over 2020-2025, registering a CAGR of 28% throughout.

Proliferating internet penetration, and rapid digitalization across the globe are key factors boosting the worldwide digital signature market growth. Furthermore, rising environmental concerns, various government initiatives to reduce usage of paper, and preference for computerized operations by the banking & finance sector are enhancing the market valuation. The industry is expanding also due to an increasing number of organizations promoting the green movement. 

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By component type, global digital signature market is arrayed into software, hardware, and services. The software segment grabbed a major market share in 2019, owing to rising number of enterprises adopting the digital signature.

Based on organization size, the industry is classified into large scale, and small-medium enterprises. Large-scale enterprises contributed substantially to the market revenue in the past year, cites the report, because of more structured requirements for data security and privacy.

Apart from this, different deployment modes considered in global digital signature market are on-premise, and cloud-based. Among these, cloud-based deployment segment dominated the market in 2019 and is expected to perform well over the forecast period owing to widespread globalization, and increased usage of digital signatures in enterprise functioning. However, on-premise deployment market segment also accounted for a significant revenue share in the recent past, due to increasing popularity of this signature format across numerous business enterprises.

The end user spectrum of the worldwide digital signature industry is categorized into BFSI, real estate, education, retail, healthcare & life sciences, government, and IT & telecommunication.

On the regional front, North America led the global digital signature industry forecast in 2019 as the US, Mexico, and Canada are known to adopt any essential form of digital technology ahead of time. These regions are quickly opting for paperless documentation process in all major business verticals. Meanwhile, Europe and APAC regions are also predicted to emerge as lucrative growth avenues for the market partakers during 2020-2025, on account of extensive government investments towards digitalization.

Key contenders in the industry are Adobe, Inc., IdenTrust, Inc., SunGard Signix, Inc., OneSpan, Thales DIS, Ascertia, DocuSign, Inc., Entrust Corp., Secured Signing Limited, and Kofax, Inc.. These companies are consistently introducing new products and services to gain competitive advantages in the industry.

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