Press release
Digital Signature Global Market Report 2024 - By Report, Size, Share, Drivers, Forecast To 2033
Digital Signature Market
The digital signature market size is expected to see exponential growth in the next few years. It will grow to $28.33 billion in 2028 at a compound annual growth rate (CAGR) of 33.6%. The growth in the forecast period can be attributed to e-government initiatives, increased cybersecurity measures, healthcare digitization, blockchain integration, iot and smart contracts. Major trends in the forecast period include biometric authentication, mobile signature apps, advanced encryption, integration with collaboration tools, regulatory compliance.
Market Overview -
A digital signature is an electronic signature and is equivalent to a handwritten signature or stamped seal. It offers more inherent security and is expected to solve the problems of tampering and impersonation.
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Government Policies Drive Growth In The Digital Signature Market
Supporting policies by the governments of various nations drove the digital signature market. For instance, the US government has passed an act called the 21st Century Integrated Digital Experience Act (also known as 21st Century IDEA Act). The 21st Century IDEA Act created a set of minimum functionalities and security standards that federal agencies must meet. According to this Act, the agencies must offer digital versions of paper-based citizen services and accept digital signatures, thereby, allowing citizens to complete transactions digitally. Such policies by the government of various nations have boosted the demand for the digital signature market.
Competitive Landscape -
Major companies operating in the digital signature market include Adobe Systems Incorporated, DocuSign Inc., Ascertia Limited, IdenTrust Inc., SIGNiX Inc., Gemalto NV, Entrust Datacard Corporation, Kofax Inc., RPost Communications Limited, Secured Signing Limited, OneSpan Inc., HelloSign Inc., GMO GlobalSign Ltd., MultiCert S.A., RightSignature LLC, Zoho Corporation Pvt. Ltd., VASCO Data Security International Inc., Arthur D. Little Inc., Shachihata Inc., Glykka LLC, eSign Genie Inc., SignaShare Corporation, KeepSolid Inc., GetAccept Inc., Symtrax Holdings Inc., Microsoft Corporation, International Business Solutions LLC, Korea SYSTEM's TECH Inc., Kotrade Inc., Oracle Corporation, SignRequest B.V., SignEasy Inc., SignNow Inc., DocVerify Inc., PandaDoc Inc., Sertifi Inc., SkySignature
Blockchain Integration Enhances Digital Signature Solutions
The digital signature solutions providing companies are integrating blockchain technology with the digital signature. The goal of integrating blockchain with a digital signature is to offer users the possibility to certify integrity and time stamp. For instance, DocuSign collaborated with Visa for the public prototypes of a blockchain-based smart contract. A blockchain-based smart contract turns the contract into a computer program and the internet-connected program monitors and triggers the relevant actions on the contract's terms.
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Key Segments -
The digital signature market covered in this report is segmented -
1) By Offering: Software, Hardware, Services
2) By Deployment: Cloud, On-premises
3) By End User: Banking, Financial services, and Insurance(BFSI), IT and Telecommunications, Government, Health care and life sciences, Education, Retail, Real Estate, Other End-Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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