Digital Signature Market Worth to cross USD 17255.84 million By 2027
Posted On July 30, 2021
The Global Digital Signature Market value is expected to grow by an impressive 30% of CAGR during the forecast period of 2021 to 2027. The market can grow to USD 17255.84 million by 2027 as per the report by Value Market Research. The global digital signature market looks quite promising as there are several factors contributing to its market growth. The key factors driving its market are unprecedented growth of digitized businesses throughout the world, the need to minimize chances of fraud, eliminate paperwork and cut down operational cost. The digital signature market is expected to witness exponential growth owing to the rapidly growing ecommerce that leverage digital signature for authenticating documents. The military and defense sector is expected to create lucrative opportunities for its market because it is mandatory to authenticate all the confidential documents where digital signature plays a crucial role. Apart from this, increasing adoption of digital signature technology in banking and financial services, education, real estate and government organizations will fuel its demand. Furthermore, the digital signature market will observe enormous growth owing to increasing number of mobile devices, growing use of software in various applications, rapidly growing remote working trend and adoption of cloud-based security solutions. However, factors such as cases of forgeries affecting customer trust, lack of awareness related to its legitimacy and region wise difference in rules and regulations pertaining to digital signature may hamper its market growth.
Digital signature is a kind of electronic signature. It is a mechanism for authenticating the validity of an electronic document with the help of a mathematically generated code. Digital signature is considered legitimate and equivalent to an individual’s physical signature and it is almost impossible to tamper it. Digital signature follow a standard format called PKI (Public Key Infrastructure) and that makes it highly secure and universally accepted. It is far more secure than handwritten signatures. It guarantees that the content of the electronic document has not been manipulated during transmission and protects it from cyber threats. The key application areas of digital signature are BFSI, IT, ecommerce, government agencies, education and research and military and defense among others.
The detailed research study "Global Digital Signature Market Report By Component (Solution, Services), By Deployment Mode (Cloud, On-Premises), By Industry Vertical (BFSI, Government And Defense, Healthcare And Life Sciences, Legal, Real Estate, Education, Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2027" assists in understanding the market dynamics with qualitative as well as quantitative data.
On the basis of component the market is segmented into Solution, Services. By deployment mode the digital signature market is categorised as Cloud, On-premises. By industry vertical the digital signature market is categorised as BFSI, Government and Defense, Healthcare and Life Sciences, Legal, Real Estate, Education, Others. The regions covered in the market study are North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. This section throws light on the geographical spread of revenue and/or volume of the digital signature market.
The Report Segments Global Digital Signature Market -
By Deployment Mode
By Industry Vertical
- Government and Defense
- Healthcare and Life Sciences
- Real Estate
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Players Profiled In the Report:
Adobe, Thales, OneSpan, DocuSign, Ascertia, Idemia, Zoho, Entrust Datacard, GlobalSign, Identrust, and Digicert.
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