Pune, Oct. 13, 2020 (GLOBE NEWSWIRE) -- The global digital signature market size is expected to reach USD 7.99 billion by 2027, exhibiting a CAGR of 28.9% during the forecast period. The growing digitalization in retail, BFSI, healthcare, government, IT & telecom industries is expected to influence the healthy growth of the market, states Fortune Business Insights, in a report, titled “Digital Signature Market Size, Share & COVID-19 Impact Analysis, By Component (Software, Hardware, and Services), By Deployment (Cloud, and On-Premises), By Enterprise Size (Large Enterprises and Small & Medium Enterprises), By Industry (BFSI, IT and Telecommunications, Government, Healthcare & Life Science, Education, Retail, Real Estate, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 1.10 billion in 2019.
The distraught caused by coronavirus has harshly affected many industries across the globe. Moreover, many sectors are severely affected by the pandemic. The government of several countries has initiated lockdown to prevent the spread of this infectious disease. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.
To get to know more about the short-term and long-term impacts of COVID-19 on this market,
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The digital signature market Includes:
- Important insights into the market
- Thorough analysis of prominent players
- Renowned companies and their latest development
- Detailed report on dominant regions
- COVID-19 impact
Market Driver:
Increasing Digitalization by BFSI Companies to Boost Market Growth
The increasing advancements and digitalization in BFSI companies will have a tremendous impact on the global market. Digitalization has enabled transparency and higher efficiency in payment processes, including loan sanctioning, investments, and others. Moreover, it has also offered improvements in various tasks, including account opening process, online bill payments, and more, hence resulting in a huge demand for digital signature in the BFSI industry. The fast and easy documentation process featured in digital signatures will enhance its prospects in the near future. Additionally, the increasing cybercrimes associated with conventional signatures forging, and document misplacements can be reduced through digitalization.
Reduced Paper-Based Transactions to Advance Market Amid Coronavirus
The increasing online and remote work obligations have urged various sectors to implement digital technology in their businesses. Various governments are supporting digitalization to diminish the transmission of the virus and maintain social distancing norms during the pandemic. The growing utilization of digital platforms by the governments to promote the digital signature and verification such as smart ID/card readers, electronic signature, smooth pass, biometric signature, and more will simultaneously boost market growth. Besides, the healthcare industry is taking strict precautionary measures to ensure the safety of doctors and patients, hence adopting electronic signature technology.
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Regional Analysis:
Rising Awareness about Paperless Systems to Propel Market in North America
The digital signature market in North America is expected to experience a stellar growth rate owing to the wide adoption of digital technologies in the region. The increasing awareness about paperless systems in the US will foster healthy growth of the market in the region. For instance, in 2018, the U.S. government introduced the Integrated Digital Experience (IDEA) Act to improve digital services. The ongoing protocols will influence healthy growth in the region. The market in Asia Pacific is expected to rise tremendously owing to the increasing government initiatives to enhance digitalization across industries. The government of India is focusing on providing e-signature facility and have passed a law under IT 2000 for legalizing the e-signature.
Key Development:
June 2020: DocuSign Inc. announced that it has signed a partnership with Appian Inks Technology to integrate its automation platform. DocuSign Inc. will offer its electronic signature capabilities for the users of Appian Ink cloud.
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The Report Lists the Main Companies in the Digital Signature Market:
- Adobe, Inc. (California, United States)
- OneSpan, Inc. (Illinois, United States)
- Oracle Corporation (California, United States)
- Ascertia Limited (Guildford Surrey, UK)
- DocuSign, Inc. (California, United States)
- Entrust Datacard Corp. (Minnesota, United States)
- Dropbox Inc. (California, United States)
- SIGNiX, Inc. (Tennessee, United States)
- Secured Signing Limited (Auckland, New Zealand)
- IdenTrust, Inc. (Utah, United States)
- Kofax, Inc. (California, United States)
- Rpost Technologies (California, United States)
- Thales Group (Gemalto) (La Défense, France)
- Salesforce.Com, Inc. (California, United States)
- Multicert (Oeiras Portugal)
- GlobalSign Ltd (New Hampshire, United States.)
- Citrix Systems. Inc, (Rightsignature) (Florida, United States)
- Secrypt GmbH (Berlin Germany)
- HelloSign (California, United States)
- PandaDoc, Inc. (California, United States)
- SignNow (airSlate, Inc.) (Texas, United States)
- SignRequest (Amsterdam, The Netherlands)
- Revvsales, Inc. (California, United States)
- eSign Genie Software (California, United States)
- Symtrax Holdings, Inc. (California, United States)
- Signority, Inc. (Ontario, Canada)
- FileInvite Limited (Auckland, New Zealand)
- Signiflow (Pty) Ltd. (Melbourne, Australia)
- PrimeKey Solutions AB (Gävle, Sweden)
- Cygnet Infotech Pvt. Ltd. (India)
- Securemetric (Kuala Lumpur, Malaysia)
- nCipher Security, LLC (Cambridgeshire, The U.K.)
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Detailed Table of Content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Force Analysis
- Global Market Share Analysis and Matrix, 2019
- Key Market Insights and Analysis, By Segments
- Global Digital Signature Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
- By Component (Value)
- Software
- Hardware
- Services
- Professional
- Consulting
- Training & Education
- Support & Maintenance
- Managed
- Professional
- By Deployment (Value)
- Cloud
- On-Premise
- By Enterprise Size (Value)
- SMEs
- Large Enterprises
- By Industry (Value)
- BFSI
- IT & Telecommunication
- Government
- Healthcare and Life Science
- Education
- Retail/e-commerce
- Real Estate
- Others
- By Component (Value)
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