Digital Signature Market on Track for 33.2% CAGR, Projected to Reach $61.91 Billion by 2030

Cloud segment is expected to experience significant growth in the coming years.

WILMINGTON, NEW CASTLE, DE, UNITED STATES, November 6, 2024 /EINPresswire.com/ -- The global 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐒𝐢𝐠𝐧𝐚𝐭𝐮𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 size was valued at $3.56 billion in 2020, and is projected to reach $61.91 billion by 2030, growing at a CAGR of 33.2% from 2021 to 2030. Enhanced operational efficiency that leads to reduction in costs, high acceptance in internal processes or communication in enterprises, and need for data security & authentication with rise in cyber-attacks drive the growth of the global digital signature market. However, high cost of investment and variations of existing applications or systems hinder the market growth. On the other hand, innovation in technology, adoption of cloud-based solutions, and supportive legislations promoting the usage of digital signature create new opportunities in the coming years.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 - 222 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/1960

A digital signature is a modern alternative to signing documents with paper and pen. It uses an advanced mathematical technique to check the authenticity and integrity of digital messages and documents. It guarantees that the contents of a message are not altered in transit and helps the end user to overcome the problem of impersonation and tampering in digital communications. Digital signatures also provide additional information such as the origin of the message, status, and consent by the signer. Furthermore, the key factor that drives the digital signature market includes high acceptance of digital signatures in internal processes or communication in enterprises and enhanced operational efficiency leads to reduction in costs positively impacts the growth of the market. In addition, growing need for data security and authentication owing to increase in cyber-attacks boost the growth of the market across the globe. However, factors such as resistance to variation of existing applications or systems and high cost of investment are limiting the growth of the market. On the contrary, innovation in technology, increase in adoption of cloud-based solutions, and new legislations promoting the use of digital signature are expected to offer remunerative opportunities for the expansion of the market during the forecast period.

Based on component, the software segment held the highest share in 2020, contributing to nearly half of the global digital signature market, and is expected to continue its lead position during the forecast period. Moreover, this segment is expected to witness the highest CAGR of 34.0% from 2021 to 2030. This is due to increase in demand for digital signature software across various sectors such as healthcare and BFSI. The research also analyzes the segments including hardware and services.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/digital-signature-market/purchase-options

Region wise, the digital signature market size was dominated by North America in 2020 and is expected to witness the highest growth rate during the forecast period, owing to growing popularity of digital signatures among the organization. In addition, early adoption of digital signature solutions is providing a lucrative opportunity for the market. However, Europe is expected to witness significant growth during the forecast period, owing to rising application of digital signature such as legal document used for financial transactions, email service providers, and software distribution, areas where the authenticity and integrity of digital communications are crucial are expected to boost the digital signature market.

Based on industry vertical, the BFSI segment contributed to the highest share in 2020, accounting for nearly two-fifths of the global digital signature market, and is estimated to continue its leadership status during the forecast period. Moreover, this segment is expected to manifest the fastest CAGR of 34.7% from 2021 to 2030. This is attributed to its ability to minimize various risks such as identity theft, unauthorized money transfer, account hacking, fraud, fishing, and other kinds of risks related to digital transactions to a great extent and deliver significant results in terms of speed of transaction. The report also analyzes the segments including education, human resource, IT & telecommunication, government, healthcare & life science, real estate, and others.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

𝐀𝐃𝐎𝐁𝐄.
𝐈𝐃𝐄𝐍𝐓𝐑𝐔𝐒𝐓 𝐈𝐍𝐂.
𝐀𝐒𝐂𝐄𝐑𝐓𝐈𝐀
𝐃𝐎𝐂𝐔𝐒𝐈𝐆𝐍, 𝐈𝐍𝐂.
𝐄𝐍𝐓𝐑𝐔𝐒𝐓 𝐂𝐎𝐑𝐏𝐎𝐑𝐀𝐓𝐈𝐎𝐍
𝐓𝐡𝐚𝐥𝐞𝐬 𝐆𝐫𝐨𝐮𝐩
𝐋𝐞𝐱𝐦𝐚𝐫𝐤 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥, 𝐈𝐧𝐜.
𝐑𝐩𝐨𝐬𝐭.
𝐒𝐞𝐜𝐮𝐫𝐞𝐝 𝐒𝐢𝐠𝐧𝐢𝐧𝐠 𝐋𝐢𝐦𝐢𝐭𝐞𝐝
𝐕𝐀𝐒𝐂𝐎 𝐃𝐚𝐭𝐚 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥, 𝐈𝐧𝐜.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/1960

Based on deployment model, the on-premise segment is contributing major digital signature market share in 2020 and is expected to witness fast growth during the forecast, primarily because these solutions were preferred by end users with large amounts of confidential data, due to the high security and control they provide. However, the cloud segment is expected to witness significant growth during the forecast period, as it provides the IT team with a greater prospect to facilitate real business value to the organization through lower expected cost and an improved ability to focus on innovation and differentiation.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

By component, the software segment accounted for the largest digital signature market share in 2020.

Region wise, North America generated highest revenue in 2020.

Depending on deployment model, the on-premise segment generated the highest revenue in 2020.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/1960

The outbreak of COVID-19 is anticipated to have a positively impact on growth of digital signature market. This is attributed to rise in demand for digital signatures to help organizations and clients sigh digitally and approve urgent files wherever and whenever. However, key vendors of the e signature market developed strategies to expand their reach in markets that previously were dominated by wet ink signatures. For instance, U.S. based digital signature services provider, DocuSign-announced specialized digital signature tools for the real estate industry. This helped DocuSign to help the realtors and their customers to facilitate necessary transactions with more ease. The digital signature sector was also benefitted by many governmental polices that were paced to help businesses during the period of the pandemic. For instance, the Institute of Chartered Accountants of India (ICAI) allowed the chattered accountants practicing from homes to sign audit reports digitally.

𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

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David Correa
Allied Market Research
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