The global digital signature market is expected to be worth US$ 17.5 billion by 20.6% CAGR during the forecast period. Growing government support is expected to fuel market growth in the coming years. In 2022, the industry is expected to generate $2.7 billion.
The global digital signature market is expanding rapidly due to its higher reliability and security compared to other types of electronic signatures. Digital signatures are used in a variety of applications such as financial transactions, contract management software, software distribution, and so on, which is propelling the overall market’s growth. However, in developing and underdeveloped countries, a lack of stringent government regulations and data protection laws may act as a significant impediment to market growth.
The growing importance of digital signatures has prompted governments in various countries to invest in the sector, which is expected to benefit the market. The deployment segment is expected to provide profitable opportunities for the global commercial satellite imaging market. Several emerging economies are making significant investments in digital signature budgets, creating lucrative opportunities for market participants.
Important Takeaways:
- From 2022 to 2030, the global digital signature market is expected to grow at a CAGR of 20.6%.
- The on-premises segment is expected to grow at a 16.2% CAGR by 2032.
- By industry vertical, the BFSI segment is expected to grow at a rate of 21.1% during the forecast period.
- From 2022 to 2032, the US market will be worth $7.5 billion, with a 21.6% CAGR.
- China’s market will acquire US$ 1.8 billion, expanding at a 22.9% annual rate during the assessment period.
Competitive Environment
Adobe Systems, Ascertia, Docusign Inc., Entrust Datacard Corporation, and SIGNiX are among the key players in the global commercial satellite imaging market. The following are recent developments among key players:
- Entrust Datacard Corporation launched its remote signing service (RSS) solution in May 2021, with the goal of enabling trust for increasingly dispersed workforces through the incorporation of high-assurance, verifiable employee signature capabilities into document apps and workflows. As enterprises migrate to the cloud and their workforces become more distributed, the need to support new remote business scenarios has grown.
- Secured Signing Limited released new improvements to the signing processes and account reporting in February 2020, allowing users to save workflow settings for individual forms and send out templates more quickly. Template workflow setting, integration with the JobAdder software platform, and platform integration with Salesforce.com are among the new enhancements.