Pune,India, Jan. 16, 2023 (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 vital information is presented by Fortune Business Insights™, in its report, titled, “Digital Signature Market Forecast, 2023-2029.”
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.
Key Industry Development:
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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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 36.1% |
| 2029 Value Projection | USD 35.03 Billion |
| Base Year | 2021 |
| Digital Signature Market Size in 2021 | USD 3.00 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 140 |
| Segments covered | Deployment; Organization; End-User; |
| Digital Signature Market Growth Drivers | Need for Improved Security, Operational Efficiency and Seamless Workflow to Propel Market Growth |
| Rising Preference Towards Digitalization by BFSI Companies to Boost Market Growth |
Key Takeaways
- increasing digitalization among several industry workflow systems is likely to revolutionise businesses.
- Rising acceptance of dematerialization by most companies is one of the key factors driving the growth of the market
- The growing popularity of the paperless system has created the demand for electronic authorization.
- The Digital Signature segment to showcase highest CAGR by 2029.
- BFSI segment leads the global market share.
- The Digital Signature Market in North America created revenue of USD 1.29 billion in 2021.
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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.
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.
Competitive Landscape (2023-2029)
Companies Involve into Strategic Partnerships to Innovate Advanced Devices
Fundamental players in the market are incessantly rooting for functional stratagem to endorse their products and establish their positions in the market. One such approach is to unveil novel products by partnering up with other companies to expand their reach to end-users.
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List of Key Players Mentioned in the 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 Table of Contents:
- Global Digital Signature Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Deployment (USD)
- On-premise
- Cloud
- By Organization 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 Deployment (USD)
- On-premise
- Cloud
- By Organization 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 End User
- Canada
- By End User
- United States
- Europe Digital Signature Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Deployment (USD)
- On-premise
- Cloud
- By Organization 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 Country (USD)
- United Kingdom
- By End User
- Germany
- By End User
- France
- By End User
- Italy
- By End User
- Spain
- By End User
- Scandinavia
- By End User
- Rest of Europe
- United Kingdom
TOC Continued…!
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