Global Digital Signature Market - Snapshot
A digital signature is an encrypted and electronic stamp of authentication on digital documents such as PDF files, word files, or online legal contract papers. With recent advancements in digital technology, cloud-based digital signature solutions are gaining traction in the market. The cloud-based segment is expected to account for a significant share of the digital signature market over the forecast period. The global digital signature market is currently driven by benefits provided by solutions such as cost reduction, improved efficiency, time saving, and enriched customer experience.
The global digital signature market was valued at US$ 804.8 Mn in 2017 and is expected to expand at a CAGR of 27.0% during the forecast period.
Improved operational efficiency at reduced costs, enhanced security, and organized workflow associated with digital signatures are some of the factors expected to drive the digital signature market. However, lack of awareness regarding the legality of digital signatures and differences in digital signature regulations across various regions are some of the factors restraining the market. Government or industry association initiatives such as awareness programs for different industries could help increase consumer awareness about the legality of digital signatures. Open standard, cloud-based digital signatures, which can be integrated with existing applications, systems, or processes, making an end-to-end workflow organized and uninterrupted are anticipated to present significant opportunities for the digital signature market. Proliferation of tablets and smartphones and the presence of more than seven billion mobile devices across the globe offer significant opportunities for open standard, cloud-based digital signatures, which can be utilized on any mobile device and on any browser.
The global digital signature market is expected to be further driven by rapid growth in Europe. The region is estimated to constitute a significant market share during the forecast period, with the U.K., Germany, and France contributing most to the region’s revenue. The digital signature market in Europe is mainly driven by initiatives undertaken by governments to create opportunities for organizations to conduct cross border business. The ‘Electronic Identification and Trust Services for Electronic Transactions in the Internal Market’ (eIDAS) regulation was implemented by the Council of the European Union in July 2016. The regulation establishes a new legal structure for electronic documents, identification, signatures, and seals throughout the European Union. This regulation is the first of its kind where there is single market recognition for electronic signatures, including digital signatures, and it is consistent throughout all European Union member states. Moreover, initiatives undertaken by industry participants from the region to promote and spread awareness about the legality of digital signatures are encouraging users to adopt digital signatures. The market in Europe is estimated to expand at a rapid CAGR of 28.2% from 2018 to 2026. Advanced economies of Western Europe, including the U.K., Germany, and France, are expected to drive the growth of the digital signature market in the region. Moreover, the infrastructure of these countries and superior Internet penetration are expected to boost the market in the near future. The digital signature market in Asia Pacific is mainly driven due to initiatives undertaken by industry participants to bridge digital gap in the region. Also, strong rise in the number of Internet-connected users and favorable economic progress in the region have created the need for solutions that can save resources such as time and money while developing smooth business processes. In Asia Pacific, the proliferation of devices such as tablets, smartphones, and computers and the growth of e-commerce have led to an increase in online bank transactions. Digital signature solutions are being implemented to organize the workflow and secure digital transactions, especially in the BFSI and retail industries.
Major players operating in the digital signature market include Adobe systems, Inc., DocuSign Inc., Gemalto N.V., Entrust Datacard Corporation, OneSpan (Esignlive), SIGNiX, Inc., Ascertia, Identrust, Inc., Kofax Inc., Rpost, and Secured Signing Ltd..
Global Digital Signature Market: Overview
The report ‘Digital Signature Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2018 – 2026’ provides analysis of the digital signature market for the period 2016 to 2026, wherein 2018 to 2026 is the forecast period, 2017 is considered as the base year, and the data for 2016 has been provided as historical information. The report covers all the trends and technologies that are likely to play a major role in the expansion of the digital signature market during the forecast period. It highlights the drivers, restraints, and opportunities expected to influence the expansion of the market during this period. The study provides a holistic perspective on the expansion of the market, in terms of revenue (in US$ Mn), across different geographical regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America. The report highlights key trends affecting the market on a global scale. Furthermore, prominent countries/regions covered in the report include the U.S, Canada, Germany, France, the U.K, China, Australia, Japan, GCC countries, South Africa, and Brazil.
This report analyzes and forecasts the digital signature market at the global and regional level. The market has been forecasted based on revenue (US$ Mn) from 2018 to 2026. The study includes drivers and restraints of the global digital signature market. It also covers the region-wise impact of these drivers and restraints during the forecast period. The study also provides market share of major market players in terms of revenue and percentage share for the global market and the market in North America and Europe.
Global Digital Signature Market: Taxonomy
This research study on the global digital signature market provides a detailed analysis based on different segmentation categories such as deployment, industry vertical, and region. Based on deployment, the global digital signature market has been segmented into on-premise and cloud. In terms of industry vertical, the market has been divided into BFSI, real estate, education, government, health care, retail, transportation, legal, and other (IT & telecom, non-profit, etc.). Furthermore, based on region, the market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Global Digital Signature Market: Research Methodology
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, internal and external proprietary databases, relevant patent and regulatory databases, national government documents, statistical databases, market reports, news articles, press releases, webcasts specific to companies operating in the market, national government documents, statistical databases, market reports, Factiva, etc..
Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide first-hand information about the market size, market trends, growth trends, competitive landscape, outlook, etc.. These help us validate and strengthen secondary research findings. They also help develop the analysis team’s market expertise and understanding.
Global Digital Signature Market: Competitive Dynamics
The report highlights well-established players operating in the market, including Adobe systems, Inc., DocuSign Inc., Gemalto N.V., Entrust Datacard Corporation, OneSpan (Esignlive), SIGNiX, Inc., Ascertia, Identrust, Inc., Kofax Inc., Rpost, and Secured Signing Ltd. These key players are looking to increase their market share by expanding their current digital signature offerings in emerging economies.
Global Digital Signature Market Segmentation
By Industry Vertical
- Real Estate
- Health Care
- Other (IT & Telecom, Non-profit, etc.)
- North America
- The U.S.
- Rest of North America
- The U.K.
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America