DUBLIN--(BUSINESS WIRE)--The "U.S. Digital Signature Market by Solution (Software, Hardware), by Service (Managed, Professional), by Deployment Type (Cloud Based, On-Premise), by Application - Market Size, Share, Development, Growth and Demand Forecast, 2013-2023" report has been added to ResearchAndMarkets.com's offering.
Increasing use of digital signatures to eliminate fraud, has been cited as one of the prime factors for strong growth of the market in the country. A lot of counterfeit and tempering incidences has been observed in software distribution and financial transaction processes across the U.S., which is creating robust demand for digital signature in the country.
Among solutions in the digital signature market, software led the market in terms of revenue contribution in 2016. The market for software is expected to grow faster than hardware, during the forecast period. Businesses across the globe, particularly in the U.S., are ditching paper work and signing important documents online. This trend is backed by globalization, rapid digitization and penetration of smart phones across various industry verticals in recent years.
The market for cloud based deployment was larger than on-premised based deployment in the U.S. digital signature market. The market for cloud deployment is also expected to witness a faster growth than on-premise, during the forecast period. The fast growth of cloud based will be driven by companies operating in the market that are rolling out subscription based hosted offerings. Moreover, the global acceptance of cloud based services and emergence of pay-as-you-go models have escalated its demand among enterprises in the country.
The expansion of e-commerce industry in the country is witnessed as a good growth opportunity for the market. The U.S. e-commerce industry is projected to expand in future amid rising internet penetration and ease in online transactions. According to the e-Commerce Foundation, in 2015, the e-commerce market in the country was second largest across the globe. The use of digital signature by various e-commerce companies provides them with integrity, confidentiality, authentication and legal non-repudiation in business transactions.
The U.S. digital signature market is moderately competitive with players developing new strategies, particularly new product launches to reach their customers in the most effective and efficient way. For instance, in July 2017, Zoho, an operating system (OS) provider, announced the launch of Zoho Sign. The new launch is a digital signature app for businesses, aiming to set the company's big step in the digital transaction management market. The new launch would enable businesses to sign and send legally binding contracts from anywhere, using a signing process, which is highly simple in nature.
- U.S. government's paperwork elimination act
- Increasing adoption of digital signature based biometrics in BFSI sector
- Increasing signature frauds in the U.S.
- Impact analysis of drivers on market forecast
- Separate laws for digital signature by the state and federal governments
- High cost of digital signature solution
- Availability of conventional paper-based signature procedures
- Impact analysis of restraints on market forecast
- Expansion of e-commerce industry
- Emergence of highly secured cloud-based signature solutions
Key Topics Covered
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
Chapter 5. Market Size and Forecast
Chapter 6. Competitive Landscape
Chapter 7. Company Profiles
- Adobe Systems, Inc.
- DocuSign Inc.
- Entrust Datacard Corporation
- Gemalto N.V.
- Secured Signing Limited
- SIGNiX Inc.
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