The digitization that has proliferated across industries has led to the provenance of digital documentation. However, digital documents without proper authentication are highly susceptible to forgery and other crimes. The incorporation of e-signatures in the documents has become a regular practice which is the reason digital signature market is booming, and the market size is poised to attain an impressive revenue of $7.3 billion by the end of 2025 as the demand for the same will observe a profitable compound annual growth rate (CAGR) of 35.20% during the forecast period of 2019 to 2025, according to a market intelligence report by IndustryARC’s analyst.
The digital signature market research report contains a gamut of facts, figures, and statistics pertaining to the market conditions and factors affecting the same. Moreover, there is a geographical analysis that gives a peek into the most lucrative digital signature marketplace along with the challenges and opportunities that foreseeable in the future. The report is titled, “Digital Signature Market: By Type (Time Stamping); Solutions (Hardware, Software); Deployment (Cloud, On-Premises); Industry Vertical (Banking, Education); Geography – Forecast (2019-2025).”
Digital Signature Market: Leading Segments
According to the geographical scrutiny by the analyst, North America had the maximum digital signature market share of 41.28% in 2018. This is much attributed to the already existing digital infrastructure in the country and an augmented application in the banking sector on which a lot of vendors in the digital signature market had capitalized. Furthermore, the SMEs, MMEs, and startups are also adopting the practice of employing digital signature in documents, which created more opportunities in the North America digital signature market.
Based on the revenue generation in the application segments, the digital signature market is poised to have the key application in BFSI. This is mainly due to the fact that banks and financial services are almost digitized worldwide, and these organizations have a lot of documents and approval processes, which, if done by conventional methods, increases the turnaround time. Therefore, the banks are leveraging digital signature in order to authenticate their digital documents. The BFSI application segment of the digital signature market will observe a lucrative CAGR of 31.20% through to 2025.
Digital Signature Market: Disruptive Trends and Growth Drivers
· The Application In Military & Defense –
Military and defense have a lot of confidential reports and documents which needs authentication from the higher authority. Evidently, these documents are nowadays being digitized and incorporated with digital signatures, which is driving the digital signature market.
· Education & Research Leveraging Digital Signatures –
Nowadays, the education and research institutes are digitizing all the documents, and even the research papers come with a digital signature. These research papers are approved by many people in the echelon, which again consumes a lot of time. Digital signatures offer a time-efficient approval process which is the reason many institutes are adapting it.
· Security Threats Leading to Innovations –
Even though the digital signature market is reducing the documentation time in various sectors, the documents are still vulnerable to external threats and forgery. This is disrupting the digital signature market. The future foresees better security standard in the digital signature market that will enable streamlined and safe authorization process.
Digital Signature Market: Competitive Landscape
Some of the key companies identified in the digital signature market intelligence report that are striving to stay ahead of the curve are DocuSign, Ascertia, IdenTrust, Entrust Datacard, Rpost Technologies, and Esignlive by Vasco, Kofax Inc., Adobe Inc., OneSpan, Gemalto, Secured Signing Limited, and Sungard Signix Inc.
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What can you expect from the report?
The digital signature market report is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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