Digital Signature Market worth $25.2 billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, Oct. 24, 2022 /PRNewswire/ -- Digital Signature Market is projected to grow from an estimated USD 5.5 billion in 2022 to USD 25.2 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 35.6% from 2022 to 2027, according to a new report by MarketsandMarkets™. Growing transition from the use of paper-based transactions to digitally signed workflows and strict regulations and data privacy compliances implemented are some of the factors driving the market growth.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=177504698

Browse in-depth TOC on "Digital Signature Market"

315 - Tables
45 - Figures
266 - Pages

By deployment mode, on-premises segment to account for a larger market size during the forecast period

The on-premises installation of digital signature solutions includes resources being deployed in-house and within an organization's IT infrastructure. With the purchase, the software is licensed, and it resides within the premises of the organization. The organization has the responsibility to maintain the deployed solution and the related processes. The organization deploying an on-premises digital signature solution bears several costs including those for the hardware, software, and services deployed. Apart from maintenance, the costs also include those for updating and upgrading the systems at regular intervals to maintain the efficiency of the software and the equipment deployed. Organizations dealing in sensitive and confidential data have the requirement of maintaining greater levels of security and privacy. This factor is particularly useful for industries such as BFSI and government and these end users are the key adopters of digital signature solutions. This need to maintain compliance with regulations and laws is expected to boost the growth of on-premises digital signature solutions. Organizations rely on the on-premises deployment mode to get full control over the digital signing process, and control and secure data in an efficient way.

By vertical, BFSI to grow at highest CAGR during the forecast period

The BFSI vertical is rapidly undergoing digital transformation. However, with the increasing digitalization comes the risk of fraud and cybercrimes. With the process of mitigating the risk of fraud, digital signature solutions help provide protection to the sensitive customer data. BFSI organizations need to provide good customer experiences based on digital consumer behavior and preferences. Digital signatures help increase efficiency and allow businesses to collaborate across borders. Digital signatures help eliminate paper-based processes; identify internal users or workflow processes; enable signing of a huge volume of documents; provide authenticity, traceability, and control; reduce time delays, and increase accuracy of completion rates. Digital signature solutions help speed up transactions and maintain audit trails of signed agreements and consent forms. They also help comply with several regulations such as the electronic Identification Authentication and Trust Services (eIDAS) in Europe and the Uniform Electronic Transactions Act (UETA) and the Electronic Signatures in Global and National Commerce Act (ESIGN Act) in the US. Several financial institutions are increasingly adopting digital signature solutions. For example, more than 80% of the population in Sweden use the BankID system. The BankID smart card allows citizens for digital identification, signing documents, and helps conduct transactions.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=177504698

By region, North America to account for the largest market size during the forecast period

North America is the expected to be the largest contributor in terms of the global Digital Signature Market size. The presence of key vendors, the increasing digitalization initiatives being taken up by end users, and the regulations related to digital signatures being implemented in the region have contributed to the Digital Signature Market growth in the region. North America is the most advanced region in regard to security technology adoption and infrastructure. Digital tools present immense potential to advance transparency, strengthen inclusion, and inspire innovation. However, it presents significant risks to privacy and security. The growing concerns for protecting critical communication infrastructure and sensitive data have increased government intervention in recent years. Several government mandates are present for securing electronic documents. The US is a highly regulated country with stringent laws and offers multiple opportunities for digital signature providers to cater to a wide range of customers across industries. The E-Sign Act is a federal law that grants legal recognition to electronic signatures and records if all parties to a contract choose to use electronic documents and sign them electronically. The key industry players engage in partnerships and collaborations to expand their presence in the Digital Signature Market. The increasing digitalization, presence of key digital signature vendors, and the strict regulations implemented in the region has driven the growth in the Digital Signature Market.

Key Players

The major vendors in the Digital Signature Market are Adobe (US), OneSpan (US), Thales (France), DocuSign (US), Ascertia (UK), Zoho (India), GlobalSign (US), Entrust (US), DigiCert (US), IdenTrust (US), Secured Signing (New Zealand), Symtrax (US), AlphaTrust (US), Notarius (US), Actalis (US), ComSignTrust (Israel), SignWell (US), SIGNiX (US), RNTrust (UAE), Bit4id (Italy), LAWtrust (South Africa), SigniFlow (UK), vintegrisTECH (Spain), Signicat (Norway), and Signority (Canada).

Browse Adjacent Market: Information Security Market Research Reports & Consulting

Related Reports:

Workplace Safety Market - Global Forecast to 2026

IDaaS Market - Global Forecast to 2027

Anti-money Laundering Market - Global Forecast to 2026

Multi-Factor Authentication Market - Global Forecast to 2026

Zero Trust Security Market - Global Forecast to 2026

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/digital-signature-market.asp
Visit Our Website: https://www.marketsandmarkets.com 
Content Source: https://www.marketsandmarkets.com/PressReleases/digital-signature.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

SOURCE MarketsandMarkets