London, Jan. 03, 2023 (GLOBE NEWSWIRE) -- The constant quest for improved customer experience, and utmost data security continue to drive demand for digital signature across key industries worldwide. Increasing realization among financial institutions and banking organizations, businesses, as well as law firms about the significance of a streamlined workflow for greater productivity, and enhanced data security is expected to drive the growth of digital signature market. In an upcoming report of Fairfield Market Research, the primary findings suggest that with unprecedented growth of online banking, and e-commerce, data security has gained the limelight. An expanding userbase of digital financial services bolster the demand for digital signature. Increasing adoption of the same by government organizations during paperwork for immigration, as well as DMV is likely to strengthen the digital signature market. With innovative developments around the regulations that would permit remote contract signing or similar legal procedures, digital signature is expected to garner traction in future. Moreover, an increasing shift toward adopting a paperless workflow, and growing effort toward slashing signature forgery, and frauds will further provide a tailwind to the digital signature market growth, says the report.
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Insights into Segmental Analysis
Key end-use sectors like BFSI, real estate, government and defense, education, and legal continue to generate demand for digital signature solutions against the soaring rate of data breach and similar instances. Solutions will remain in demand with growing availability of the various digital signature solutions on the market, including OneSpan, DocuSign, DigiCert, and Thales. The study however highlights the fact that the government sector has been undergoing brisk digitalization over the recent past that has paved the way for digital signature technology as well. With an intent to facilitate the documentation and processing in a more efficient manner at all levels, governments are expected to raise their reliance on cutting-edge technology aids like digital signatures. The study says this will remain a prime factor upholding the key position of government segment in the digital signature market. Growing demand for reliable signature and verification solutions is projected to fuel adoption of digital signature technology across government sector. The segment currently stands as the dominant industrial vertical in global digital signature market.
Insights into Regional Analysis
Early penetration and fastest acceptance of cloud technology accounts for North America’s lead in the digital signature market. The region has been at the forefront of demand generation for cloud-based services and remains the most cloud-ready market for industry leaders. The expanding adoption of cloud-based services among the businesses in North America is anticipated to consequently push the need for the development of digital solutions in the secure cloud. While this drives the growth of digital signature market here, rising digital signature penetration for transactions, and trade agreements further elevates the scope of growth for North America’s digital signature market. On the other hand, the market in Asia Pacific is expected to display impressive growth in long term as the region witnesses growing interest of governments in digitalization, and rising investments in data security.
Key Companies in Global Digital Signature Market Space
Adobe, Lexmark International, Inc., Thales Group, VASCO Data Security International, Inc., Secured Signing Limited, RPost, Inc., Identrust Inc., Docusign, Inc., Ascertia, and Entrust Corporation represent some of the prominent players leading the competition landscape of global digital signature market. The report would throw light on some of the leaders in global digital signature space with greater emphasis on the strategic competitive information.
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Global Digital Signature Market is Segmented as Below:
By Component
- Hardware
- Software
- Services
By Deployment Model
- On-premises
- Cloud
By Industrial Vertical
- BFSI
- Education
- Human resource
- IT & telecommunication
- Government
- Healthcare & life Science
- Real estate
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- France
- Germany
- Russia
- Rest of Europe
- Asia Pacific
- Japan
- South Korea
- India
- China
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Report Inclusions
- Market Estimates and Forecast
- Market Dynamics
- Industry Trends
- Competition Landscape
- Component-wise Analysis
- Deployment Model-wise Analysis
- Industrial Vertical-wise Analysis
- Region-wise Analysis
- Country-wise Analysis
- Key Trends Analysis
- COVID-19 Impact Analysis
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