Pune, India, April 13, 2022 (GLOBE NEWSWIRE) -- The global digital signature market size is projected to grow from USD 4.05 billion in 2022 to USD 35.03 billion by 2029, exhibiting a CAGR of 36.1% during the forecast period. The global market size was USD 3.00 billion in 2021. This information is published by Fortune Business Insights™, in its report, titled, “Digital Signature Market Share, 2022-2029.”
The rising demand for e-businesses and paperless workflow is anticipated to drive the market. It is aiding industries such as retail, BFSI, healthcare, government, IT & telecom, among others, to decrease operational budget.
Industry Development
August 2020: DocuSign, Inc. declared a tactical partnership with GMO Global Sign to offer a seamless digital signature solution. The DocuSign Inc. platform will incorporate the cloud-based Document Signing Service (DSS) of GMO Global Sign.
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Driving Factors
Required Security Upgrade, Functional Proficiency and Seamless Workflow to Boost Market Growth
- Formerly, handling, saving and tracking information utilized to take a long time, which additionally postponed other work methods. Further, the necessity for enhanced operational proficiency and worry concerning data security has resulted in the appearance of digital signatures.
- For sectors such as banking and insurance, retail, real estate, and government, the security of digital information reassigned among individuals or departments is of highest prominence. Consequently, these large transactions fueled businesses have begun amalgamating digitally-empowered signatures in their work procedures to fulfil their requirement for safe online transactions.
Digital signature market Report Coverage
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2022 to 2029 CAGR | 36.1 % |
| 2029 Value Projection | USD 35.03 billion |
| Base Year | 2021 |
| Market Size in 2021 | USD 3.00 billion |
| Historical Data for | 2018-2020 |
| No. of Pages | 140 |
| Segments covered | By Component; By Deployment; By Enterprise Size; By Industry; Regional |
| Digital signature market Growth Drivers | Need for Improved Security, Operational Efficiency and Seamless Workflow to Propel Market Growth |
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Digital signature market Segmentation Analysis
Surging Demand for Digital Solutions to Navigate Software Segment Growth
Based on the component, the market is categorized as software, hardware, and services. The software market is expected to lead the market. Its capability to offer instant electronic signature conversion is likely to drive the software segment.
Based on the deployment, the market is categorized as on-premises and cloud.
Based on enterprise size, the market is segmented into large enterprises and small & medium enterprises.
Based on industry, the market is segmented into BFSI, IT and telecommunications, government, healthcare & life science, education, retail, real estate, and others.
Geographically, the market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Regional Insights
North America to Dominate backed by Early Adoption of Technology by Companies
North America is projected to dominate by holding the largest digital signature market share during the forecast period. The region is a preliminary implementer of digital technologies and hence boosts the market growth.
Asia Pacific is anticipated to grow considerably owing to the surging government programs to enhance digitalization across industries.
Europe is predicted to gain prompt digital signature market growth during the forecast period owing to rising E-business systems across industries.
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Companies Profiled in Digital signature market Report:
- Adobe, Inc. (California, U.S.)
- OneSpan, Inc. (Illinois, U.S.)
- DocuSign, Inc. (California, U.S.)
- Thales Group (Paris, France)
- ASSA ABLOY (Stockholm, Sweden)
- GlobalSign, Inc. (Leuven, Belgium)
- Entrust Corporation (Minnesota, U.S.)
- Ascertia Limited (Guildford, Surrey)
- SIGNiX, Inc. (Tennessee, U.S.)
- IDEMIA (Courbevoie, France)
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Major Points from Table of Content:
- Global Digital Signature Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Component (USD)
- Software
- Hardware
- Services
- Professional Services
- Consulting
- Training & Education
- Support & Maintenance
- Managed Services
- Professional Services
- By Deployment (USD)
- On-premise
- Cloud
- By Enterprise Size (USD)
- SME's
- Large Enterprises
- By End User (USD)
- BFSI
- IT & Telecommunication
- Government
- Healthcare and Life Science
- Education
- Retail/e-commerce
- Real Estate
- Others (Defense & Legal)
- By Region (USD)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
- North America Digital Signature Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Component (USD)
- Software
- Hardware
- Services
- Professional Services
- Consulting
- Training & Education
- Support & Maintenance
- Managed Services
- Professional Services
- By Deployment (USD)
- On-premise
- Cloud
- By Enterprise Size (USD)
- SME's
- Large Enterprises
- By End User (USD)
- BFSI
- IT & Telecommunication
- Government
- Healthcare and Life Science
- Education
- Retail/e-commerce
- Real Estate
- Others (Defence & Legal)
- By Country (USD)
- United States
- By Component
- Canada
- By Component
- United States
- Latin America Digital Signature Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Component (USD)
- Software
- Hardware
- Services
- Professional Services
- Consulting
- Training & Education
- Support & Maintenance
- Managed Services
- Professional Services
- By Deployment (USD)
- On-premise
- Cloud
- By Enterprise Size (USD)
- SME's
- Large Enterprises
- By End User (USD)
- BFSI
- IT & Telecommunication
- Government
- Healthcare and Life Science
- Education
- Retail/e-commerce
- Real Estate
- Others (Defence & Legal)
- By Country (USD)
- Brazil
- By Component
- Mexico
- By Component
- Rest of Latin America
- Brazil
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