The global Digital Signature Market size is anticipated to reach USD 38.16 billion by 2030, expanding at a CAGR of 39.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increasing internet and smartphone penetration across the globe is expected to fuel the market growth from 2024 to 2030. For instance, according to DataReportal, an online reference library, a total of 5.18 billion people worldwide were using the internet at the beginning of Q2 2023.
The
increasing partnerships between businesses and digital signature companies to
implement digital signatures bode well for the growth of the market. For
instance, in March 2023, BlackBerry Limited, a software company, entered a
partnership with Adobe, a computer software Company. This partnership aimed to
deliver secure forms with electronic signatures over mobile devices. The
software solution, integrating BlackBerry UEM and Adobe Experience Manager
Forms, is tailored for prevalent mobile device platforms and complies with the
stringent security standards mandated by regulated industries.
Digital
signature offers various advantages such as time-saving and cost savings to the
business and individual users, enabling them to sign documents electronically
from remote locations. Furthermore, the implementation and modernization of
laws by various governments across different jurisdictions for regulating the
market are expected to boost trust among the users and eventually fuel the
market’s growth. Additionally, digital transformation across industries will
help the market grow from 2024 to 2030.
The
COVID-19 pandemic had an immediate positive impact on the market. The rising
adoption of digital signature solutions during the COVID-19 pandemic attracted
venture capital firms to invest in various digital signature software
providers. For instance, in June 2021, Yousign, an eSignature solution for
SMBs, announced that it raised USD 36.6 million through a Series A funding
round led by Lead Edge Capital Management, LLC. With the funds raised company
aimed at reaching around 50,000 European SMBs by 2024.
List
of Key Players in the Digital Signature Market
- Docusign,
Inc.
- SIGNiX, Inc.
- Adobe Inc.
- OneSpan Inc.
- GlobalSign
- IdenTrust,
Inc.
- PrimeKey AB
- Visma
- Ascertia
- Topaz
Systems, Inc.
- Entrust
Corporation
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summary: Digital Signature Market Report
Digital
Signature Market Report Highlights
- Based on
components, the solutions segment dominated the market in 2023. Rising
adoption of digital signature solutions owing to their benefits such as
improved security, improved customer experience, cost reduction, and
improved productivity is attributed to the segment’s growth
- Based on
level, the Qualified Electronic Signatures (QES) segment is expected to
grow at the highest CAGR from 2024 to 2030. QES provides a higher level of
legal validity and compliance. It offers enhanced legal certainty and is
frequently mandated for transactions involving sensitive or high-value
documents, such as contracts, legal agreements, and government-related
documents
- Based on
deployment, the cloud segment is expected to grow at the highest CAGR from
2024 to 2030. The growing adoption of cloud-based digital signatures by
end-users as it offers benefits such as scalability and flexibility is
attributed to the segment’s growth
- Based on
end-user, the businesses segment dominated the market in 2023. The rising
adoption of digital signatures by businesses as it enables them to meet
compliance requirements by offering a legally recognized method of signing
and validating electronic documents is the major driving factor behind the
segment’s growth
- Based on
industry vertical, the BFSI segment led the market in 2023.BFSI firms
increasingly use digital signatures to enhance security and efficiency in
business operations such as transaction processing and identity
verification
- The Asia
Pacific region is expected to grow at the highest CAGR from 2024 to 2030.
The increasing digital transformation in countries such as China, India,
Singapore, and South Korea is attributed to the market growth in the
region. These countries play a major role in the adoption of digital
signatures across the Asia Pacific region
- In February
2023, GlobalSign launched a cloud-based signing service, named Qualified
Signing Service (QSS). This service is used for qualified electronic
signatures and seals. Furthermore, this service complies with eIDAS, an EU
regulation for electronic identification and trust services
Digital
Signature Market Segmentation
Grand
View Research has segmented the global digital signature market based on
component, level, deployment, end-user, industry vertical, and region:
Digital
Signature Component Outlook (Revenue, USD Million, 2017 - 2030)
- Solutions
- Services
Digital
Signature Level Outlook (Revenue, USD Million, 2017 - 2030)
- Advanced
Electronic Signatures (AES)
- Qualified
Electronic Signatures (QES)
Digital
Signature Deployment Outlook (Revenue, USD Million, 2017 - 2030)
- Cloud
- On-premise
Digital
Signature End-user Outlook (Revenue, USD Million, 2017 - 2030)
- Individuals
- Businesses
- Organizations
Digital
Signature Industry Vertical Outlook (Revenue, USD Million, 2017 - 2030)
- BFSI
- Health Care
& Life Science
- IT &
Telecom
- Government
- Retail
- Others
Digital
Signature Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- Spain
- France
- Italy
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Latin America
- Brazil
- Middle East
& Africa
- UAE
- The Kingdom
of Saudi Arabia (KSA)
- South Africa
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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