Digital Signature Market to reach US$ 17.5 Billion, Amid Favorable Government Regulations by 2032 | Future Market Insights, Inc.

The U.S is anticipated to be home of the largest Digital Signature Market during this period, with an estimated market size at $7.5 Billion and projected growth rate around 21.6%. Europe is expected to retain its supremacy in the global market with a US$ 1.8 billion contributions from U-K, growing at an annual rate of 21.7%.

NEWARK, Del., Sept. 27, 2022 /PRNewswire/ -- The global digital signature market is anticipated to reach a value of US$ 17.5 Bn by 2032, with the market growing at an astounding CAGR of 20.6% from the forecast period of 2022 to 2032. Valued at US$ 2.1 Bn in 2021, the digital signature market is projected to reach an estimated US$ 2.7 Bn in 2022. In order to provide an enhanced customer experience, optimize productivity, streamline workflow, and improve security, many government regulations are prompting different enterprises, financial institutions, and legal firms to implement digital signatures. This is expected to foster a positive market environment for digital signatures over the forecast period.

Advantages associated with digital signature solutions like improved security, diminished turnover time, lower costs, and better efficiency promote the increasing usage of digital signatures. Many governments across the globe are concentrating on removing paperwork in the overall workflow which is expected to further the demand for digital signature solutions. In addition to this, the increasing need for data security while transmitting sensitive information has resulted in the mass adoption of digital signatures. 

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Moreover, the surge in the number of connected devices such as smartphones, tablets, and laptops, is predicted to further stimulate the demand for digital signatures internationally. The ever-expanding e-commerce industry is also expected to have a positive impact on the growth of the digital signature market. In addition to this, the adoption of cloud-based solutions will lead to deeper market penetration of the digital signature market. Many firms and institutions are able to reduce their stationary expenses owing to the use of electronic documents and digital signatures. The high rate of adoption of digital signature solutions in the banking and financial sector will further bolster the market growth during the projected period.

Again, the rapid digitalization in various industries is likely to transform the way these industries operate. The increasing endorsement of dematerialization by many of these companies and the many advantages of paperless solutions like convenience, speed, and excellent workflow efficiency are certain other factors supporting the expansion of the digital signature market during the forecast period.

"Increasing government initiatives coupled with the adoption of digitalization and dematerialization in various industries will drive the global growth of the digital signature market over the forecast period," says an FMI analyst. 

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Key Takeaways:

• Increasing dematerialization initiatives to strengthen market prospects.
• Lack of awareness and high implementation cost may impede the market growth of the digital signature market.
• By deployment, the on premise segment is expected to register a 16.2% CAGR.
• On the basis of industrial vertical, the BFSI segment will lead the market with a 21.1% CAGR.
• The U.S. market will likely account for a value of US$ 7.5 Bn.
• The digital signature market in Europe will likely expand at a 21.7% CAGR. 

Competitive Landscape 

Adobe Systems, Ascertia, Docusign Inc., Entrust Datacard Corporation, and SIGNiX among others are some of the major players in the digital signature market profiled in the full version of the report.

Leading market players are focusing on introducing cost-effective and affordable solutions. These organizations are keen on securing new contracts and adopting new market trends to gain a competitive advantage.

1. Preface

    1.1. Market Scope

    1.2. Market Segmentation

    1.3. Key Research Objectives

2. Assumptions and Research Methodology

    2.1. Market Taxonomy - Segment Definitions

    2.2. Research Methodology

3. Executive Summary: Global Digital Signature Market 

4. Market Overview

    4.1. Introduction

        4.1.1. Product Definition

        4.1.2. Industry Evolution/Developments

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