Global Digital Signature Market 2019-2023
Global Digital Signature Market: About this market
Technavio’s digital signature market analysis considers the applications of digital signature based on end-users, including BFSI, government, healthcare, legal, and others. Our analysis also finds the sales of digital signature in North America, Europe, APAC, MEA, and South America. In 2018, the BFSI segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the need to enhance security will play a vital role in the BFSI segment to maintain its market position. , our global digital signature market report looks at factors such as the growing number of partnerships and acquisitions, increasing digital signature adoption in cloud-based deployment, government regulations supporting digital signature. However, the security concerns associated with digital signatures, lack of awareness about digital signatures, and challenges related to the implementation of digital signatures may hamper the growth of the digital signature industry over the forecast period.
Global digital signature market: Overview
Increasing digital signature adoption in cloud-based deployment
The deployment of cloud-based digital signature services is growing significantly across end-user industries. This is mainly because it offers various benefits that include digital signing, content integrity, trusted timestamps, and non-repudiation, without the need to manage any physical hardware or build any integrations. Thus, the increasing deployment of cloud-based digital signatures will fuel the expansion of the global digital signature market at a CAGR of close to 25% during the forecast period.
Increasing adoption of blockchain technology in digital signatures
The adoption of blockchain technology in digital signatures is growing at a significant rate. This is mainly because the integration of blockchain technology facilitates the use of digital signatures for various digital media, such as AutoCAD drawings, videos, pictures, and audios for authentication. The trend of integrating blockchain technology into digital signatures will positively impact the growth of the global digital signature market during the forecast period.
For the detailed list of factors that will drive the global digital signature market during the forecast period 2019-2023, click here.
With the presence of a few significant players, the global digital signature market is concentrated. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading digital signature providers, that include Adobe Inc., DocuSign Inc., Entrust Datacard Corp., OneSpan Inc., and SIGNiX Inc.
Also, the digital signature market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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