Global Digital Signature Market — Market Size, Industry Updates and Forecasts 2025by Agastya Bellamkonda Business Consulting
The digital signature is a code attached to electronically transmitted documents to provide security and identify the sender’s identity.
A digital signature is the most advanced and secure electronic signature.
It is used for software distribution, financial transactions and other purposes. The global digital signature market will reach 3839.52 million USD by 2025 from 985.7 million USD in 2018 with a CAGR of 21.44% during the period.
Insights on Market Segments
Based on the solution, the digital signature market is categorized into hardware, software and services, of which services have been contributing the largest revenue share globally.
However, the software is expected to be the fastest-growing category during the forecast period.
This can be attributed to the increasing demand for accessibility of such signatures in connected devices such as smartphones, tablets and laptops in different applications such as government, banking, financial services and insurance.
On the basis of deployment type, the digital signature market has been categorized into cloud-based and on-premises. Cloud-based has been the dominant category, as it reduces IT costs and ensures mobility.
Growth by Region
The Asia Pacific is the fastest-growing market due to the enhancement of digital technologies in countries such as China and India.
Europe will be the fastest-growing region due to the need for digital security and authentication over the network. In 2018, North America held the largest market.
Drivers vs Constraints
The rise in online banking activities and internet penetration is driving the growth of the market. Technological innovations and enhanced data integrity, scalability, and transparency are driving market growth. However, the implementation cost of digital signature and rules and regulations across the world are hindering the market growth.
Industry Trends and Updates
Worldline, the European leader in the payments and transactional services industry, joined with Adobe which enables users to access cloud-based digital signature services.
eMudhra, digital signature and authentication firm, is growing its international operations focusing on digital transformation and cybersecurity products.
The intensity of rivalry in the global digital signature market is moderate. Digital signature market players are focusing on product launch and partnerships to enhance product security features and expand their consumer base across the globe.
- Secured Signing
- Thales e-Security
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Created on Aug 25th 2019 23:39. Viewed 278 times.