DUBLIN--(BUSINESS WIRE)--The "Digital Signature Market by Solution (Software and Hardware), Service, Deployment Mode, Application (BFSI, Government & Defense, Legal, Real Estate, HR, Manufacturing & Engineering, Healthcare & Life Sciences), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
This research forecasts the digital signature market size to grow from USD 1.2 billion in 2018 to USD 5.5 billion by 2023, at a CAGR of 36.7% during 2018-2023.
Major growth factors for the market include improved operational efficiency, reduced Operational Expenditure (OPEX), improved security, and increased adoption of digital signature solutions to securely sign the documents. Scattered regulations in some regions and lack of awareness related to the legality of the digital signature may restrain the market growth.
Banking, financial services and insurance segment to grow at the highest rate during the forecast period
The digital signature market by application comprises Human Resource (HR); education and research; Banking, Financial Services and Insurance (BFSI); government and defense; healthcare and life sciences; legal; real estate; manufacturing and engineering; others (retail, transit, energy and utilities, telecom, operations, sales and marketing, pharmaceuticals, and procurement).
The BFSI segment is expected to grow at the highest rate because it helps these firms simplify the complex processes, with enhanced security, improve turnaround time for onboarding a customer, to go paperless by automating the document workflow, and meet the regulatory compliances.
Among regions, Europe to grow at the highest CAGR during the forecast period
Europe has distinctively been one of the fastest-growing markets in terms of rapidly adopting digital signature solutions. The digital signature market is also termed as the next big boom with regards to the ever-increasing adoptions across this region.
The digital signature market in Europe has gained traction because of the high demand for high-end security solutions, an increase in the digitalization, legal compliances, and regulations, such as eIDAS. Moreover, the rapid growth of the digital signature market in the region can be attributed to the active online engagement of consumers in the emerging countries of the region.
The extensive facilities to deploy and manage digital signature solutions at a low cost of ownership is boosting the market growth in this region. Furthermore, various international and domestic enterprises located in this region are partnering with digital signature solution providers to enhance offerings to local clients. The developed European countries, such as the UK, Germany, France, have expansively considered the use of digital signature solutions and services.
The growth of this region can be attributed to the increased demand for digital signature solutions and advancements in digital technologies. Moreover, regulatory compliance by government and legal laws are benefitting all stakeholders present in the digital signature ecosystem in Europe.
The UK, Germany, and France are among the key countries considered for the digital signature market analysis in this region. Additionally, the rapid expansion of local players, as well as global enterprises, in Europe is also one of the important factors that are influencing the growth of the digital signature market.
- Rising Investments in Electronic Documents By Governments and Enterprises
- Improved Security With A Controlled and Seamless Workflow
- Improved Operational Efficiency at Lower OPEX
- Enhanced End-To-End Customer Experience
- Variation in Digital Signature Rules and Regulations Across Regions
- Lack of Awareness About the Legality of Digital Signatures
- Increasing Number of Partnerships and Acquisitions
- Increased Acceptance of Cloud-Based Security Solutions
- Deeply Entrenched Traditional Business Practices
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency Considered
2 Research Methodology
2.1 Research Data
2.2 Market Breakup and Data Triangulation
2.3 Market Size Estimation
2.4 Market Forecast
2.5 Assumptions for the Study
2.6 Limitations of the Study
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Digital Signature Market
4.2 Market Top 3 Applications
4.3 Market Top 3 Applications and Regions
4.4 Market By Application
5 Market Overview and Industry Trends
5.2 Market Dynamics
5.3 Regulatory Implications
5.4 Use Cases
6 Digital Signature Market By Component
7 Digital Signature Market By Deployment Mode
8 Digital Signature Market By Application
8.2 Human Resources
8.3 Education and Research
8.4 Banking, Financial Services, and Insurance
8.5 Government and Defense
8.7 Healthcare and Life Sciences
8.8 Real Estate
8.9 Manufacturing and Engineering
9 Digital Signature Market, By Region
9.2 North America
9.4 Asia Pacific
9.5 Middle East and Africa
9.6 Latin America
10 Competitive Landscape
10.2 Microquadrant Overview
10.3 Strength of Product Portfolio
10.4 Business Strategy Excellence
11 Company Profiles
11.6 Entrust Datacard
11.8 Secured Signing Limited
11.13 Zoho Corp.
11.14 RPost Technologies
For more information about this report visit https://www.researchandmarkets.com/research/2p53dd/the_digital?w=4