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Global Digital Signature Market to
Reach $2,934.6 Million by 2023


Global Digital Signature Market

According to a new research report Glo al Digital Signature Market Size, Share,
Development, Growth and Demand Forecast to 2023 - Industry Insights by Solution
(Software and Hardware), by Services (Managed & Professional), by Deployment
Mode (Cloud-Based and On-Premises), and By Application (Government, IT,
Healthcare & Life Sciences, Finance & Insurance, Telecom, Retail, and Others)
published by P&S Market Research, the global digital signature market is projected to
reach $2,934.6 million by 2023, growing at a CAGR of 24.1% during 2017 - 2023.
Browse Report Description at: https://www.psmarketresearch.com/market-


Global Digital Signature Market

Global digital signature market to grow in
double digits
As per the research, the global digital signature market is likely to register a doubledigit growth rate during the forecast period. Digital signature in the study refers to
the use of digitized form of signature to reduce deception and promote security in
documentations across various sectors, such as government, information
technology, healthcare, finance and insurance, telecom, and retail. Growing security
concern, increasing use of digital signatures to reduce deception, increasing
adoption of digital signature-based biometrics in the banking, financial services and
insurance (BFSI) sector and growing government focus towards eliminating
paperless work is likely to spearhead the growth of the global digital signature
market. In addition, the increasing e-commerce market and growing number of
connected devices, including smartphone, tablet and laptop, is further expected to
drive the demand of digital signature across the globe.

Global Digital Signature Market

Insights on market segments
Government sector contributes highest revenue to the digital signature market, while
finance & insurance, IT and healthcare & lifesciences are the other major application
areas of digital signature market. The market is likely to register fastest growth from
healthcare & lifesciences during the forecast period. On the other hand, cloud based
deployment accounts for the larger revenue, as compared to on-premises, and it is
further expected to be the leading segment on account of growing adoption of cloud
based services and rising security concern.
The large market for cloud based deployment is owing to growing focus of the
companies towards security and cost saving and growing need of organizations to attain
economies of scale. Managed services contribute larger revenue in the global digital
signature market, as compared to professional services.

Global Digital Signature Market

The market to witness fastest growth in AsiaPacific during the forecast period
Geographically, North America has been the largest market for digital signatures
and Asia-Pacific had been the fastest growing regional market. The market in the
region is also expected to grow at significant pace during the forecast period. By
country, the U.S. stands as the largest market globally, whereas the market in China
has been growing at highest pace.
The anticipated growth in the Asia-Pacific market can be attributed to factors such
as improving BFSI sector and initiatives taken by various government associations
for the elimination of paper work and enhancement in the use of digital technology
in countries such as China and India. Further, increasing investment by digital
signature software manufacturing companies across the Asia-Pacific is expected to
drive the growth of digital signature market.

Global Digital Signature Market

Government drive to replace paperwork with
technology escalates the global market growth
The government in various countries are focusing towards reducing the paperwork
and bringing paperwork elimination act across the respective countries. For
instance, the U.S. government has implemented paperwork elimination act under
which, the government is encouraging the enterprises for electronic and digital
signature alternatives. According to the act, the electronic records and their related
digital signatures are not to be denied validity, legal effect, or enforceability simply,
because they are in electronic or digital form. As public awareness of electronic
communications and internet usage has been increasing, the demand for online
interactions with the federal agencies has also surged. The federal government also
encourages the widespread usage of cryptographically-based digital signatures. The
U.S. being the largest digital signature market globally, the implementation of such
act is driving the demand of digital signatures.

Global Digital Signature Market

Further, banking and insurance companies are also adopting digital signature for
cost & time saving. The banking & insurance organizations records the customer
signature into digital form, which would help in monitoring, time and cost saving,
and expertise in delivering the services.
Digital signatures are helpful in eliminating frauds and thefts in many areas of
security. According to the U.K. Health Services, the prescription falsification
including deception cost over $100 million per year. Through the authentication of
digital signatures by healthcare professionals, paper-based prescriptions can be
digitally transferred from the doctor to hospital’s server, and then to patient's
pharmacy, thus inhibiting a person’s ability to manipulate or forge the do tor’s
prescription. Pharmacists have an online copy for the comparison of a patient’s
digitized prescriptions, for the better healthcare services.

Global Digital Signature Market

Moderate competition among key players
The research states that the global digital signature market is moderately
competitive, with players investing heavily in research & development and
enhancing the digital signature solutions to increase their market share. Some of
the key players operating in the global digital signature market are Adobe Systems
Incorporated, Secured Signing Limited, SIGNiX Inc., Entrust Datacard Corporation,
Ascertia, Docusign Inc. and Gemalto NV.

Global Digital Signature Market

Download report sample at:


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