U.S. Digital Signature Market to Surpass USD 10,612 Million Revenue by 2030, Says P&S Intelligence

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Jan 09, 2023, 08:10 ET

NEW YORK, Jan. 9, 2023 /PRNewswire/ -- As per a recent research report published by P&S Intelligence, the total size of the U.S. digital signature market stood at USD 921.3 million in 2021, and it will propel at a mammoth CAGR of 31.2% in the years to come, reaching USD 10,612 million by 2030.

Solutions Are Used Most

The solution category will have the largest revenue share and grow at a rate of 33.3% in the near future. Solutions enable the authentication of digital records and the identity of the signer. Therefore, many sectors, including healthcare & life sciences, government & defense, legal, BFSI, real estate, and education, are swiftly accepting these solutions.

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BFSI Sector To Grow Fastest, as User

The BFSI industry is growing the most rapidly because of the increasing acceptance of digital signature hardware, such as biometric systems and smart cards, and related software tools in this sector. Additionally, these enterprises are allowing customers to perform online transactions faster, with digital signatures.

Professional Digital Signature Services Witnessing Mushrooming Demand

The industry also includes the revenue produced from professional and managed services, of which the professional services will grow faster in the years to come.

The demand for digital signature consulting, advisory, and knowledge is increasing among businesses looking for improved assistance with this novel signing technology in a short time.

Government Is Largest User of Digital Signatures

The government sector will make the most use of digital signatures in the U.S. throughout this decade.
Since the implementation of numerous related laws by the government of the U.S., such as the GPEA and UETA, the process of authentication has gradually seen the evolution from manual to digital approaches.
Furthermore, government institutions prefer digital signatures for reducing forgery and gaining the confidence of the public in private documentation.

Cloud Deployment Will Be Preferred by Most People in Future

The cloud deployment of these solutions will grow at a considerable rate, of 32%, in the years to come. The fast growth will mainly be because of the rollout of easy-to-manage and subscription-based software by the IT vendors present in the industry.

Browse detailed report on U.S. Digital Signature Market Share, Growth, Trends and Demand Forecast to 2030

Furthermore, the advent of pay-as-you-go models has increased the requirement for cloud-based solutions amongst companies in the U.S.

For instance, Adobe recently introduced Adobe Sign, its cloud-based digital signature service centered on the open standard technology. Adobe Sign and Adobe Document Cloud will now allow for the usage of digital signatures from any mobile device or browser.

U.S. Digital Signature Market Report Coverage

By Deployment Type

On-premise
Cloud Based

By Component

Solution

Software
Hardware

Service

Managed
Professional

By Organization Size

Large Enterprises
Small & Medium Enterprises (SMEs)

By Application

BFSI
Government and defense
Healthcare and life sciences
Legal
Real estate
Education
It and ITeS

Browse More Reports Published by P&S

Global Digital Signature Market Size, Share and Growth Forecast to 2030

Global E-Signature Market Size, Share and Growth Forecast to 2030

Europe E-Signature Market Size, Share and Growth Forecast to 2030

About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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P&S Intelligence
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SOURCE P&S Intelligence