Global Digital Signature Market - 2022-2029

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,350	205 Pages	DataM Intelligence 4Market Research LLP	June, 2022	DTAM17210385

Best Price Guarantee
Price	from $4,350
Length	205 Pages
Publisher	DataM Intelligence 4Market Research LLP
Published Date	June, 2022
SKU	DTAM17210385

Global Digital Signature Market - 2022-2029

Market Overview

The global digital signature market size was worth US$ XX million in 2021 and is estimated to show significant growth by reaching up to US$ XX million by 2029, growing at a CAGR of XX% within the forecast period (2022-2029).

The digital signature is a mathematical technique used for verifying digital documents such as PDF files, Word files, and online legal contract papers using an encoded electronic stamp. It aids in resolving the impression and tempering problems in digital communication. It contains all of the information about a digital document that allows users to quickly and readily determine the document's source, identity, and status.

The principle of cryptography is used to operate a digital signature. Due to proper authentication, organizations can now share business documents and legal contracts less danger. In order to support the rising digitized enterprises, digital signatures provide secure and authenticated transactions.

Encryption is used to protect electronic documents at the sender's end. The receiver is given a digital signature that allows him to decrypt the data in the document. Software, digital documents, and electronic messages are all validated and authenticated using the digital signature mechanism. Physical documents are verified using handwritten signatures. Digital signatures, including e-mails, word documents, and portable document formats, are used to validate and consent to the content of digital documents. Encryption and decryption procedures are required for a digital signature.

Market Dynamics

The growing shift towards paperless documents is creating market growth potential for the digital signature market.

The growing shift toward paperless documents is creating market growth potential for the digital signature market

The green movement has swept the globe for the past decade, causing governments, corporate offices, and businesses to adopt full or partial paperless operations. Paperless corporate processes are more efficient and environmentally friendly. Various offices began using electronic documents, resulting in substantial paper savings. Corporations that supported the green movement contributed to environmental protection and showed that both governments and businesses care about the environment, forcing citizens to use paperless document procedures, creating growth opportunities for the digital signature market.

Moving to paperless document processing has increased operational efficiency, decreased operational expenses, and sped up decision-making. Electronic signatures are required for document authentication in electronic documentation.

Digital signatures are used to safeguard digital documents by governments and organizations in the BFSI, HR, legal, and real estate sectors. The Government of India (GoI), for example, kicked off a digital revolution by initiating the Digital India campaign and investing extensively to connect villages to the digital revolution.

The worldwide digital signature market is being driven by governments and businesses investing more in integrating digital signature technology with day-to-day commercial applications.

Therefore growing government support in building market share for digital signatures has encouraged various key players to increase their investments in the market.

For instance, in April 2021, IDEMIA, a global leader in augmented identity, announced that it is working with Microsoft to enable its new Microsoft Azure Active Directory (Azure AD) verifiable credentials identity solution is currently in public preview. Organizations can verify information about individuals, such as their education, professional, or citizenship certifications, using Azure AD verified credentials without collecting or retaining their data.

All hard-copy identity credentials, such as physical badges, loyalty cards, and government-issued paper documents, can be replaced with verifiable credentials. Thanks to this digital representation of identity or credential, individuals can assume complete custody of their personal information, saved in a digital wallet and accessed via a mobile device.

Lack of enough awareness about the legality of digital signatures has shown challenging circumstances for the growth of the digital signatures market

All procedures, such as document production, editing, formatting, sharing, and storage, are done electronically in the current scenario. When it comes to signing, though, most people still choose to use the old wet-ink method and this is because many people still regard digital signatures as unproven, unlawful, and untested.

The majority of users have never used electronic signatures before. As a result, they are hesitant to take a chance with something as novel as a digital signature. However, using a digital signature in the telecommunications industry is well-established. Digital signature technologies are widely used in the BFSI sector. The technology for digital signatures is improving, but the legislation is lagging, hurdling market growth.

Therefore, governments and businesses should develop digital signature awareness initiatives to keep up with technology and accept electronic document processing. Legal authorities in countries must make provisions to raise knowledge about the legal recognition and benefits of digital signatures over traditional signatures.

COVID-19 Impact Analysis

COVID-19 has impacted businesses all across the world in some form. In order to maintain social distance and prevent the virus from spreading further, businesses have moved their operations to home offices. Organizations attempt to simplify the procedure using digital signatures, and essential documents are being signed without delay or limits. The digital signature market has increased due to COVID-19 due to increased use cases from existing and new clients.

Furthermore, the growing demand for online and remote labor has encouraged various firms to adopt digital technology to stay in business. In most countries, governments are adopting and encouraging digital signatures to decrease paper-based transactions, which helps maintain social distancing norms.

Segment Analysis

The global digital signature market is segmented on component, deployment mode, organization size,end-user and region.

The popularity of online services, including internet banking, mobile banking, and stock trading, has increased the demand for digital signatures in the BFSI market

The global digital signature market is segmented into BFSI, legal, real estate, government and defense, healthcare and life sciences, education and others based on end-user. The BFSI segment dominated the market in sales in 2021, with a share of over xx percent. With continuously changing client demands, the BFSI vertical is undergoing digital transformation at every level.

The popularity of online services, including internet banking, mobile banking, and stock trading, has increased dramatically. The BFSI segment focuses on understanding digital consumer behavior, preferences, and choices through customer-centric business applications. The growth of digital signatures in the BFSI sector is due to its strong security, protecting identities, and keeping track of regulatory compliance. Regulations including the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA) play an important part in the digital identity revolution in the BFSI sector.

Digital signatures add to BFSI organizations in simplifying complicated business procedures by enhancing security and reducing customer onboarding time. Digital signature technology is simple to incorporate into an existing banking system. Furthermore, various banks have taken the initiative to promote digital signature market growth by introducing the system in their banks.

For instance, on November 25, 2020, Deutsche Bank announced that it is working with Daimler Treasury in Singapore to establish an electronic banking signature solution used in other Asian regions for its treasury responsibilities.

Geographical Analysis

Rapid mobile adoption increased the shift of organizations toward cloud-based solution adoption, and the presence of prominent players in North America has uplifted the digital signature market share in the region

The North American region has built the revenue for the digital signature markets primarily due to the rapid mobile adoption, increased shift of organizations toward cloud-based solution adoption, and the presence of prominent players occupying a significant market share.

Cisco, for example, predicted that by the end of 2021, the region would be one of the most cloud-ready. The growth is due to enterprises' growing preference for cloud-based services, which is predicted to fuel the expansion of digital solutions on a secure cloud.

Furthermore, growing government initiatives on e-signatures, such as the Uniform Electronic Transactions Act (UETA) and the Electronic Signatures in Global and National Commerce Act (E-SIGN), allowed e-signatures to be used for every transaction, hence driving the market. Trade agreements, including the United States-Mexico-Canada Agreement (USMCA), encourage electronic signatures.

In addition, to stay competitive in the industry, major vendors are introducing new products. Companies have been involved in technological improvements, such as Mitek's Check Intelligence, a signature verification platform located in U.S., which launched in June 2021. With such quick technical improvements and greater government regulation, such as the Improving Digital Identity Act of 2020, the country is projected to experience a more secure environment for the study market's growth.

Competitive Landscape

The global digital signature market is highly competitive with local and global key players. Some key players contributing to the market's growth are Adobe Inc, OneSpan, Thales, DocuSign, Inc., Ascertia, Zoho, Secured Signing, Entrust Datacard, DigiCert, Inc, IdenTrust, GlobalSign, Symtrax, ComSignTrust, Multicert, and SunGard SIGNiX Inc. among other.

The major companies are adopting several growth strategies such as product launches, acquisitions, and collaborations, contributing to the global growth of the Digital Signature market.

For instance, in May 2021- Swadeshi Jagran Manch (SJM), a Rashtriya Swayamsevak Sangh (RSS) affiliate, initiated a digital signature campaign urging the Indian government to use its sovereign rights to grant more pharmaceutical businesses obligatory licenses to manufacture COVID vaccines and medications.

DocuSign, Inc.

Overview: DocuSign, Inc., based in San Francisco, California, is a company that helps businesses handle electronic agreements. DocuSign's Agreement Cloud includes eSignature, allowing users to sign documents electronically on various devices. DocuSign has over a million customers and hundreds of millions of users across the globe. DocuSign's signatures, including EU Advanced and EU Qualified Signatures, are consistent with the US ESIGN Act and the European Union's eIDAS regulation.

Product Portfolio: The company has a product portfolio of the digital signature that includes:

DocuSign eSignature: DocuSign eSignature is the world's #1 way to e-mail and sign virtually anything, at any time, from sales contracts and offer letters to account openings and bills. Because it's part of the DocuSign Agreement Cloud, the customer can use it for other stages of the agreement process, such as creating, acting on, and managing contracts.

Key Development

In October 2021, DocuSign teamed up with Salesforce to make agreement facilitation much easier for customers worldwide.

On February 17, 2022, PT Indonesia Digital Identity (VIDA), a rooted digital certificate (PSrE) licensed by the Indonesia Ministry of Communication and Informatics (Kominfo), announced cooperation with DocuSign, a global leader in electronic signatures.

Why Purchase the Report?

Visualize the global digital signature market segmentation by component, deployment mode, organization size, end-user and region, highlighting key commercial assets and players.

Identify commercial opportunities in the digital signature market by analyzing trends and co-development deals.

Excel data sheet with thousands of global digital signature market-level 4/5 segmentation points.

PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

Product mapping in excel for the key product of all major market players

The global digital signature market report would provide approximately 69 market data tables, 63 figures and 205 pages.

Target Audience 2022

Service Providers/ Buyers

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Distributors

1. Global Digital Signature Methodology and Scope
1.1. Research Methodology
1.2. Research Objective and Scope of the Report
2. Global Digital Signature Market – Market Definition and Overview
3. Global Digital Signature Market – Executive Summary
3.1. Market Snippet by Component
3.2. Market Snippet by Deployment Mode
3.3. Market Snippet by Organization Size
3.4. Market Snippet by End-User
3.5. Market Snippet by Region
4. Global Digital Signature Market-Market Dynamics
4.1. Market Impacting Factors
4.1.1. Drivers
4.1.1.1. The growing shift towards paperless documents is creating market growth potential for the digital signature market
4.1.2. Restraints
4.1.2.1. Lack of enough awareness about the legality of digital signatures has shown challenging circumstances for the growth of the digital signatures market
4.1.2.2. XX
4.1.3. Opportunity
4.1.3.1. xx
4.1.4. Impact Analysis
5. Global Digital Signature Market – Industry Analysis
5.1. Porter's Five Forces Analysis
5.2. Supply Chain Analysis
5.3. Pricing Analysis
5.4. Regulatory Analysis
6. Global Digital Signature Market – COVID-19 Analysis
6.1. Analysis of COVID-19 on the Market
6.1.1. Before COVID-19 Market Scenario
6.1.2. Present COVID-19 Market Scenario
6.1.3. After COVID-19 or Future Scenario
6.2. Pricing Dynamics Amid COVID-19
6.3. Demand-Supply Spectrum
6.4. Government Initiatives Related to the Market During Pandemic
6.5. Manufacturers Strategic Initiatives
6.6. Conclusion
6.7. Others
7. Global Digital Signature Market – By Component
7.1. Introduction
7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
7.1.2. Market Attractiveness Index, By Component
7.2. Solutions*
7.2.1. Introduction
7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
7.2.3. Software
7.2.4. Hardware
7.3. Services
7.3.1. Professional Services
7.3.2. Managed Services
8. Global Digital Signature Market – By Deployment Mode
8.1. Introduction
8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Deployment Mode
8.1.2. Market Attractiveness Index, By Deployment Mode
8.2. Cloud *
8.2.1. Introduction
8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
8.3. On-premises
9. Global Digital Signature Market – By Organization Size
9.1. Introduction
9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Organization Size
9.1.2. Market Attractiveness Index, By Organization Size
9.2. SMEs*
9.2.1. Introduction
9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
9.3. Large Enterprises
10. Global Digital Signature Market – By End-User
10.1. Introduction
10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
10.1.2. Market Attractiveness Index, By End-User
10.2. BFSI*
1.1.1. Introduction
1.1.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
10.3. Legal
10.4. Real Estate
10.5. Government and Defense
10.6. Healthcare and Life Sciences
10.7. Education
10.8. Other
11. Global Digital Signature Market – By Region
11.1. Introduction
11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
11.1.2. Market Attractiveness Index, By Region
11.2. North America
11.2.1. Introduction
11.2.2. Key Region-Specific Dynamics
11.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
11.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Deployment Mode
11.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Organization Size
11.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
11.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.2.7.1. U.S.
11.2.7.2. Canada
11.2.7.3. Mexico
11.3. Europe
11.3.1. Introduction
11.3.2. Key Region-Specific Dynamics
11.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
11.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Deployment Mode
11.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Organization Size
11.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
11.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.3.7.1. Germany
11.3.7.2. UK
11.3.7.3. France
11.3.7.4. Italy
11.3.7.5. Russia
11.3.7.6. Rest of Europe
11.4. South America
11.4.1. Introduction
11.4.2. Key Region-Specific Dynamics
11.4.3. Introduction
11.4.4. Key Region-Specific Dynamics
11.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
11.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Deployment Mode
11.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Organization Size
11.4.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
11.4.9. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.4.9.1. Brazil
11.4.9.2. Argentina
11.4.9.3. Rest of South America
11.5. Asia-Pacific
11.5.1. Introduction
11.5.2. Key Region-Specific Dynamics
11.5.3. Introduction
11.5.4. Key Region-Specific Dynamics
11.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
11.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Deployment Mode
11.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Organization Size
11.5.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
11.5.9. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.5.9.1. China
11.5.9.2. India
11.5.9.3. Japan
11.5.9.4. Australia
11.5.9.5. Rest of Asia-Pacific
11.6. Middle East and Africa
11.6.1. Introduction
11.6.2. Key Region-Specific Dynamics
11.6.3. Introduction
11.6.4. Key Region-Specific Dynamics
11.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
11.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Deployment Mode
11.6.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Organization Size
11.6.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
12. Global Digital Signature Market – Competitive Landscape
12.1. Competitive Scenario
12.2. Market Positioning/Share Analysis
12.3. Mergers and Acquisitions Analysis
13. Global Digital Signature Market- Company Profiles
13.1. Adobe Inc*
13.1.1. Company Overview
13.1.2. Product Portfolio and Description
13.1.3. Key Highlights
13.1.4. Financial Overview
13.2. OneSpan
13.3. Thales
13.4. DocuSign, Inc
13.5. Ascertia
13.6. Zoho
13.7. Secured Signing
13.8. Entrust Datacard
13.9. DigiCert, Inc
13.10. IdenTrust
LIST NOT EXHAUSTIVE
14. Global Digital Signature Market – Premium Insights
15. Global Digital Signature Market – DataM
15.1. Appendix
15.2. About Us and Services
15.3. Contact Us