Digital Signature Market Size, Share & Analysis Report, 2023-2032
The global digital signature market size was exhibited at USD 3.09 billion in 2022 and is projected to hit around USD 20.62 billion by 2032, growing at a CAGR of 20.9% during the forecast period 2023 to 2032.
Key Pointers:
There has been a rise in the use of e-signatures in the recent years. This factor is expected to contribute to the growth of the digital signature market. Strict e-signature regulations are also contributing to the growth in the use of digital signature solutions. There is a significant demand for digital signature solutions across verticals, such as BFSI, government and defense, healthcare and life sciences, legal, and others.
Digital Signature Market Report Scope
|
Report Coverage |
Details |
|
Market Size in 2023 |
USD 3.74 Billion |
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Market Size by 2032 |
USD 20.62 Billion |
|
Growth Rate From 2023 to 2032 |
CAGR of 20.9% |
|
Base Year |
2022 |
|
Forecast Period |
2023 to 2032 |
|
Segments Covered |
By Component, By Deployment Model, By Organization Size and By Industry Vertical |
|
Market Analysis (Terms Used) |
Value (US$ Million/Billion) or (Volume/Units) |
|
Regional Scope |
North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa |
|
Key Companies Profiled |
ADOBE., IDENTRUST INC., ASCERTIA, DOCUSIGN, INC., ENTRUST CORPORATION, Thales Group, Lexmark International, Inc., Rpost., Secured Signing Limited, VASCO Data Security International, Inc. and Others. |
Digital Signature Market Dynamics
Driver: Growing use of e-Signatures led to the need to eradicate fraud and signature forgery
The green movement has taken hold for the past decade across the globe, resulting in the shift of governments, corporate offices, and enterprises toward full or partial paperless workflows. Various offices started using electronic documentation, saving a massive amount of paper. eSign has been in the industry for several years, but COVID-19 has proved to be the reactant in increasing its adoption. Electronic signatures provide a secure and reliable system for remote people to sign approvals, contracts, and other documents easily and efficiently. A critical factor driving the demand for digital signatures is the need to eradicate fraud and signature forgery. With the growing use of eSignature services, eSignature scams and phishing attacks that compromise a user’s personal and financial information have risen. Such cyber incidents have elevated the need for digital signatures. Several regulation frameworks control the use of e-signatures. In the US, for instance, the Federal Reserve Bank, the Securities and Exchange Commission (SEC), and the Internal Revenue Service (IRS) have all released electronic signature guidance that enables more forms, documents, and transactions than ever before electronic signatures.
Restraint: Variation in digital signature rules and regulations across regions
Digital signature solutions automate the business processes for bringing about digital transformation; at the same time, users expect business processes to be easy-to-use, to be able to provide flexible accessibility with high security and to be compatible with all rules and regulations. The digital signature provides security and boosts trust in a business process, playing a crucial role in business transactional processes. Digital signature technology is related to documents that contain financial information, designs, product and service-related information, defense strategies, government policies, and other important documents. SMEs are focused on satisfying regional needs using digital signature technology. The government’s rules and regulations and the judiciary's acceptance of digital signatures as witnesses or proofs vary geographically. Region-wise, new rules and regulations are emerging. Changing rules and regulations are becoming a challenge for the digital signature market.
Opportunity: Growing number of partnerships and acquisitions
The digital signature market has witnessed unprecedented traction in recent years. There has been tremendous growth in inorganic growth strategies, such as partnerships, agreements, and acquisitions, among IT companies to establish themselves as digital signature solutions and service providers with competitive advantages. The latest trends show that the key players follow various inorganic strategies to stay competitive in the digital signature market. The demand for digital signature solutions and services has become one of the foremost concerns for security-centric organizations. Hence, the market offers abundant opportunities for digital signature providers to sell their digital signature solutions and services.
Challenge: Intensely entrenched traditional business practices
A long history of working with traditional paper-based business processes is entrenched deeply in the working culture of all businesses, which are reluctant to change their working patterns within a short interval. The other major challenges in adopting digital signature technology across all organizational processes include the lack of trust and ease of implementation, otherwise present in convenient business solutions. Traditional business practices need to route documents signed by all signatories, with additional suggestions/changes required; this process takes a lot of time and effort. Overcoming this deeply entrenched traditional business practice is becoming a hindrance or a challenge in the digital signature market.
By region, North America to account for the largest market size during the forecast period
North America is expected to be the largest contributor in terms of the global digital signature market size. North America is the most advanced region in terms of security technology adoption and infrastructure. According to the World Bank, the internet usage rate in the US was 91% in 2020. In the US, a comprehensive digital government strategy aimed at delivering better digital services to citizens was launched and built on three main goals, including enabling the American people and an increasingly mobile workforce to access high-quality digital government information and services anywhere, anytime, on any device. The growing concerns for protecting critical communication infrastructure and sensitive data have increased government intervention in recent years. Various security-related regulatory compliances control the digital signature market. Title 21 CFR Part 11 is a part of the Code of Federal Regulations that establishes the United States Food and Drug Administration (FDA) regulations on electronic records and electronic signatures. The region also has the largest number of digital signature solution vendors. The vendors are engaging in partnerships and collaborations to expand their presence in the digital signature market. In April 2020, GlobalSign joined DocuSign’s agreement cloud partner ecosystem to deliver globally trusted digital identities. Cloud-based services from GlobalSign and DocuSign enable enterprises to leverage GlobalSign’s digital signing service integration to the DocuSign Trust Service Provider ecosystem. Countries analyzed for the digital signature market in this region are the US and Canada.
Some of the prominent players in the Digital Signature Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Digital Signature market.
By Component
By Deployment Model
By Organization Size
By Industry Vertical
By Region
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Digital Signature Market
5.1. COVID-19 Landscape: Digital Signature Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Digital Signature Market, By Component
8.1. Digital Signature Market, by Component, 2023-2032
8.1.1. Hardware
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Software
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Services
8.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Digital Signature Market, By Deployment Model
9.1. Digital Signature Market, by Deployment Model, 2023-2032
9.1.1. On-premises
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Cloud
9.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Digital Signature Market, By Organization Size
10.1. Digital Signature Market, by Organization Size, 2023-2032
10.1.1. SMEs
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Large Enterprises
10.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Digital Signature Market, By Industry Vertical
11.1. Digital Signature Market, by Industry Vertical, 2023-2032
11.1.1. BFSI
11.1.1.1. Market Revenue and Forecast (2020-2032)
11.1.2. Education
11.1.2.1. Market Revenue and Forecast (2020-2032)
11.1.3. Human Resource
11.1.3.1. Market Revenue and Forecast (2020-2032)
11.1.4. IT & Telecommunication
11.1.4.1. Market Revenue and Forecast (2020-2032)
11.1.5. Government
11.1.5.1. Market Revenue and Forecast (2020-2032)
11.1.6. Healthcare & Life Science
11.1.6.1. Market Revenue and Forecast (2020-2032)
11.1.7. Real Estate
11.1.7.1. Market Revenue and Forecast (2020-2032)
11.1.8. Others
11.1.8.1. Market Revenue and Forecast (2020-2032)
Chapter 12. Global Digital Signature Market, Regional Estimates and Trend Forecast
12.1. North America
12.1.1. Market Revenue and Forecast, by Component (2020-2032)
12.1.2. Market Revenue and Forecast, by Deployment Model (2020-2032)
12.1.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.1.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.1.5. U.S.
12.1.5.1. Market Revenue and Forecast, by Component (2020-2032)
12.1.5.2. Market Revenue and Forecast, by Deployment Model (2020-2032)
12.1.5.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.1.5.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.1.6. Rest of North America
12.1.6.1. Market Revenue and Forecast, by Component (2020-2032)
12.1.6.2. Market Revenue and Forecast, by Deployment Model (2020-2032)
12.1.6.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.1.6.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.2. Europe
12.2.1. Market Revenue and Forecast, by Component (2020-2032)
12.2.2. Market Revenue and Forecast, by Deployment Model (2020-2032)
12.2.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.2.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.2.5. UK
12.2.5.1. Market Revenue and Forecast, by Component (2020-2032)
12.2.5.2. Market Revenue and Forecast, by Deployment Model (2020-2032)
12.2.5.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.2.5.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.2.6. Germany
12.2.6.1. Market Revenue and Forecast, by Component (2020-2032)
12.2.6.2. Market Revenue and Forecast, by Deployment Model (2020-2032)
12.2.6.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.2.6.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.2.7. France
12.2.7.1. Market Revenue and Forecast, by Component (2020-2032)
12.2.7.2. Market Revenue and Forecast, by Deployment Model (2020-2032)
12.2.7.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.2.7.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.2.8. Rest of Europe
12.2.8.1. Market Revenue and Forecast, by Component (2020-2032)
12.2.8.2. Market Revenue and Forecast, by Deployment Model (2020-2032)
12.2.8.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.2.8.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.3. APAC
12.3.1. Market Revenue and Forecast, by Component (2020-2032)
12.3.2. Market Revenue and Forecast, by Deployment Model (2020-2032)
12.3.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.3.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.3.5. India
12.3.5.1. Market Revenue and Forecast, by Component (2020-2032)
12.3.5.2. Market Revenue and Forecast, by Deployment Model (2020-2032)
12.3.5.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.3.5.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.3.6. China
12.3.6.1. Market Revenue and Forecast, by Component (2020-2032)
12.3.6.2. Market Revenue and Forecast, by Deployment Model (2020-2032)
12.3.6.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.3.6.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.3.7. Japan
12.3.7.1. Market Revenue and Forecast, by Component (2020-2032)
12.3.7.2. Market Revenue and Forecast, by Deployment Model (2020-2032)
12.3.7.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.3.7.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.3.8. Rest of APAC
12.3.8.1. Market Revenue and Forecast, by Component (2020-2032)
12.3.8.2. Market Revenue and Forecast, by Deployment Model (2020-2032)
12.3.8.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.3.8.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.4. MEA
12.4.1. Market Revenue and Forecast, by Component (2020-2032)
12.4.2. Market Revenue and Forecast, by Deployment Model (2020-2032)
12.4.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.4.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.4.5. GCC
12.4.5.1. Market Revenue and Forecast, by Component (2020-2032)
12.4.5.2. Market Revenue and Forecast, by Deployment Model (2020-2032)
12.4.5.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.4.5.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.4.6. North Africa
12.4.6.1. Market Revenue and Forecast, by Component (2020-2032)
12.4.6.2. Market Revenue and Forecast, by Deployment Model (2020-2032)
12.4.6.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.4.6.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.4.7. South Africa
12.4.7.1. Market Revenue and Forecast, by Component (2020-2032)
12.4.7.2. Market Revenue and Forecast, by Deployment Model (2020-2032)
12.4.7.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.4.7.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.4.8. Rest of MEA
12.4.8.1. Market Revenue and Forecast, by Component (2020-2032)
12.4.8.2. Market Revenue and Forecast, by Deployment Model (2020-2032)
12.4.8.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.4.8.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.5. Latin America
12.5.1. Market Revenue and Forecast, by Component (2020-2032)
12.5.2. Market Revenue and Forecast, by Deployment Model (2020-2032)
12.5.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.5.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.5.5. Brazil
12.5.5.1. Market Revenue and Forecast, by Component (2020-2032)
12.5.5.2. Market Revenue and Forecast, by Deployment Model (2020-2032)
12.5.5.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.5.5.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
12.5.6. Rest of LATAM
12.5.6.1. Market Revenue and Forecast, by Component (2020-2032)
12.5.6.2. Market Revenue and Forecast, by Deployment Model (2020-2032)
12.5.6.3. Market Revenue and Forecast, by Organization Size (2020-2032)
12.5.6.4. Market Revenue and Forecast, by Industry Vertical (2020-2032)
Chapter 13. Company Profiles
13.1. ADOBE.
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. IDENTRUST INC.
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. ASCERTIA
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. DOCUSIGN, INC.
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. ENTRUST CORPORATION
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. Thales Group
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. Lexmark International, Inc.
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. Rpost.
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. Secured Signing Limited
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. VASCO Data Security International, Inc.
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
Chapter 14. Research Methodology
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
Chapter 15. Appendix
15.1. About Us
15.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers