(Wireless-NewsWire.Com, June 16, 2020 ) According to a research report "Digital Signature Market by Solution (Software and Hardware), Service, Deployment Mode, Application (BFSI, Government & Defense, Legal, Real Estate, HR, Manufacturing & Engineering, Healthcare & Life Sciences), and Region - Global Forecast to 2023", published by MarketsandMarkets, MarketsandMarkets expects the digital signature market size to grow from USD 1.2 billion in 2018 to USD 5.5 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 36.7% during the forecast period. The major factors driving the digital signature market include the growing investments in digital documents by governments and enterprises because of the benefits of improved security and seamless workflow offered by digital signatures.
Browse 100 market data Tables and 33 Figures spread through 137 Pages and in-depth TOC on "Digital Signature Market - Global Forecast to 2023"
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=177504698
The BFSI application to account for the largest market size during the forecast period in the global digital signature market
The Banking, Financial Services, and Insurance (BFSI) sector, which includes banks, credit unions, insurance companies, and brokerages, has emerged as the largest adopter of digital signature solutions and is expected to maintain its dominance in the market and grow at the highest CAGR during the forecast period. The growing number of online frauds, data breaches, and cyberattacks in BFSI institutions, along with the increased agility, security, automation, visibility, and compliance of business processes offered by these solutions, is the major factor driving the adoption of digital signatures in the BFSI sector.
The cloud deployment mode to grow at a higher CAGR during the forecast period in the global digital signature market
The two deployment modes of digital signature solutions are cloud and on-premises. Cloud-based digital signature solutions are comparatively economical and easy to manage, leading to their increasing adoption by Small and Medium-sized Enterprises (SMEs) and their higher growth rate. However, on-premises deployment assures higher levels of security, flexibility, and data control, and so is the preferred mode of deployment by large enterprises.
North America to hold the largest market size during the forecast period in the global digital signature market
North America is expected to be the largest adopter of digital signature solutions throughout the forecast period. The factors contributing to this trend include the presence of major digital signature vendors, advanced IT infrastructure, and government mandates regarding data security in the region. The presence of regulations, such as the eIDAS regulation, specially designed for ensuring the interoperability of the digital signature is also driving the adoption of the solution in Europe. Moreover, investments by major players in the European market are further expected to contribute to the highest CAGR of the region in the global digital signature market during the forecast period.
Speak to Our Expert Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=177504698
The digital signature market report provides the competitive landscape and company profiles of the key vendors by their product offerings and business strategies. Major vendors in the global digital signature market include Adobe (US), OneSpan (US), Gemalto (Netherlands), Ascertia (UK), DocuSign (US), Entrust Datacard (US), SIGNiX (UK), Secured Signing (New Zealand), Identrust (US), and Kofax (US).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra