Dublin, Aug. 20, 2021 (GLOBE NEWSWIRE) -- The "Digital Signature Market Research Report: By Component (Software, Hardware, Service), Deployment Type (Cloud, On-Premises), Vertical (BFSI, Government, IT & Telecom, Healthcare, Retail) - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
Global digital signature market size is expected to attain value of $25,211.3 million in 2030, while the market will advance at a CAGR of 29.2% during 2021-2030
Due to the burgeoning requirement for smooth digital transaction management and user authentication, the demand for digital signatures is rising rapidly. Moreover, the increasing acceptance of online transactions and payment procedures and surging digitization rate are driving the demand for digital signatures.
The COVID-19 pandemic has helped digital signature solution and service providers expand their operations. The growth of the digital signature market increased significantly from 2019 to 2020 and this trend continued from 2020 to 2021 as well. Due to the growing requirement for online transactions and secure connectivity and rising popularity of the remote working culture, the market is exhibiting huge expansion.
Due to the pandemic, many information technology (IT) and banking, financial services, and insurance (BFSI) companies have taken measures for securing remote contractual, financial, and other associated procedures. Hence, with the surge in the volume of digital transactions, the market is growing rapidly.
Depending on vertical, the market is divided into government, BFSI, healthcare, retail, IT & telecom, and others. Out of these, the BFSI category is expected to exhibit the fastest growth during the forecast period, primarily because of the growing focus of businesses on eliminating paper-based processes and their replacement with auditable and accurate workflows with the help of digital signatures.
The digital signature market is classified into service, software, and hardware, based on component. Amongst these, the software category is expected to demonstrate the highest CAGR in the market during the forecast period. This is credited to the increasing pace of digitization and the growing public awareness about various new technologies across the world.
Furthermore, the service category is divided into professional and managed categories. Between these, the managed service category dominated the market in 2020. This was because of the huge requirement for higher operational security and cost savings among companies. Besides reducing time and cost, these services also enable the implementation and monitoring of solutions.
The digital signature market is also classified into on-premises and cloud, on the basis of deployment type. Between these, the on-premises category led the market in 2020, mainly due to the fact that these solutions are preferred by end users who have large volumes of confidential data, on account of the greater security and control provided by them.
Globally, the Asia-Pacific (APAC) digital signature market is predicted to demonstrate the fastest growth throughout the forecast period, due to the flourishing e-commerce industry, increasing focus on mitigating the prevalence of online frauds, and rising security concerns. India will be the fastest growing country in the APAC market during the forecast period.
Some of the leading players in the digital signature market are
- Adobe Inc.
- OneSpan Inc.
- Secured Signing Limited
- SIGNiX Inc.
- Entrust Datacard Corporation
- Ascertia Limited
- Docusign Inc.
- Thales eSecurity Inc.
- RPost Communications Limited
- Sertifi Inc.
- Citrix Systems Inc.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Component
4.1.1.1 Software
4.1.1.2 Hardware
4.1.1.3 Service
4.1.1.3.1 Managed
4.1.1.3.2 Professional
4.1.2 By Deployment Type
4.1.2.1 Cloud
4.1.2.2 On-premises
4.1.3 By Vertical
4.1.3.1 Government
4.1.3.2 BFSI
4.1.3.3 IT & telecom
4.1.3.4 Healthcare
4.1.3.5 Retail
4.1.3.6 Others
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Use of digital signatures in healthcare sector
4.3.1.2 Integration of digital signatures with blockchain technology
4.3.2 Drivers
4.3.2.1 Increasing adoption of digital-signature-based biometrics in BFSI sector
4.3.2.2 Requirement for advanced security solutions amidst pandemic lockdowns and remote working environment
4.3.2.3 Government policies regarding digitization and data protection
4.3.2.4 Growing usage of digital signatures to eliminate paperwork
4.3.2.5 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 High cost associated with digital signature solutions and availability of conventional alternatives
4.3.3.2 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 Untapped countries to offer growth opportunities to market players
4.3.4.2 Growing e-business across the globe
4.4 Porter's Five Forces Analysis
4.5 Impact of COVID-19 on Digital Signature Market
4.5.1 Global Scenario of COVID-19 Impact
4.5.2 COVID-19 and Digital Signature Market
Chapter 5. Government Regulations
5.1 U.S.
5.2 Canada
5.3 Europe
5.4 U.A.E.
5.5 Brazil
5.6 China
5.7 India
5.8 Japan
5.9 Australia
Chapter 6. Global Market Size and Forecast
6.1 By Component
6.1.1 Service, by Type
6.2 By Deployment Type
6.3 By Vertical
6.4 By Region
Chapter 7. North America Market Size and Forecast
Chapter 8. Europe Market Size and Forecast
Chapter 9. APAC Market Size and Forecast
Chapter 10. LATAM Market Size and Forecast
Chapter 11. MEA Market Size and Forecast
Chapter 12. Market Segment Breakdown of Major Countries
12.1 U.S. Digital Signature Market, by Component
12.2 U.S. Digital Signature Market, by Vertical
12.3 Germany Digital Signature Market, by Component
12.4 Germany Digital Signature Market, by Vertical
12.5 U.K. Digital Signature Market, by Component
12.6 U.K. Digital Signature Market, by Vertical
12.7 France Digital Signature Market, by Component
12.8 France Digital Signature Market, by Vertical
12.9 China Digital Signature Market, by Component
12.10 China Digital Signature Market, by Vertical
12.11 Japan Digital Signature Market, by Component
12.12 Japan Digital Signature Market, by Vertical
12.13 India Digital Signature Market, by Component
12.14 India Digital Signature Market, by Vertical
Chapter 13. Competitive Landscape
13.1 List of Market Players and Their Offerings
13.2 Market Share Analysis of Key Players
13.3 Strategic Developments by Market Players
13.3.1 Mergers and Acquisitions
13.3.2 Product Launches
13.3.3 Partnerships
Chapter 14. Company Profiles
14.1 Business Overview
14.2 Product and Service Offerings
14.3 Key Financial Summary
For more information about this report visit https://www.researchandmarkets.com/r/aot8zo
