Digital Signatures Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Digital Signatures Market can be segmented by Deployment (On-premise, Cloud), Offering (Software, Hardware, Service), End-user Industry (BFSI, Government, Healthcare, Oil & Gas, Military and Defense, Logistics and Transportation, Research and Education), and Geography.

Market Snapshot

Digital Signature Market Overview
Study Period: 2019- 2026
Base Year: 2020
Fastest Growing Market: Europe
Largest Market: North America
CAGR: 21.5 %

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Market Overview

The digital signatures market registered a CAGR of 21.5% during the forecast period 2021-2026. Enterprises are shifting from traditional signatures to digital signatures because it reduces the risk of legal disputes and provides stronger evidence.

  • There is a consistent need for data security while transmission of sensitive information. Due to the boom of e-commerce and online banking, it was necessary for companies to secure their networks to gain customers' confidence. It has led to greater and faster rate of adoption rates of digital signatures, which act as the sender's personal seal of authenticity over any electronic document.
  • Using a digital signature involves obtaining the public and private key and the digital certificate by paying an additional amount of money. This might create financial hindrances for small and medium enterprises.

Scope of the Report

Digital signatures are the most advanced and secure type of electronic signatures. One can use them to comply with the most demanding legal and regulatory requirements because they provide the highest levels of assurance about each signer's identity and the authenticity of the documents they sign. It has applications in Government, Judicial, Telecom, E-Commerce, and BFSI.

By Deployment
On-Premise
Cloud
By Offering
Software
Hardware
Service
By End-user Industry
BFSI
Government
Healthcare
Oil & Gas
Military & Defense
Logistics & Transportation
Research & Education
By Geography
North America
United States
Canada
Europe
United Kingdom
Germany
France
Rest of Europe
Asia Pacific
China
Japan
South Korea
Rest of Asia Pacific
Rest of the World
Latin America
Middle East and Africa

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Key Market Trends

BFSI Sector to Occupy the Largest Market Share

  • Banking and insurance, an inevitable part of personal and professional lives, needs to be enhanced regarding technology usage for validation and protection against malicious alterations.
  • In July 2018, Deutsche Bank accelerated account openings for corporate and institutional clients by introducing a digital signature and digitizing account openings and document signings significantly reduced costs and processing times.
  • The multiple advantages of digital signatures include a handsome percentage reduction in the overall operating costs associated with the opening up of bank accounts, the quantum of paper formalities is also reduced. Customer engagement can be enhanced by using the suggested technology, which further leads to minimization of time & work efforts.
Digital Signature Market Key Trends

Europe to Witness Significant Growth

  • In the European Union, specific regulation on electronic identity and trust services has been created, commonly known as "the eIDAS Regulation." This regulation facilitates the recognition of electronic identification schemes across borders.
  • In September 2018, eIDAS sample implementation for member states was released in which changes like usage of simple DSI keys in SAML messages were introduced.
  • European Commission has been active in setting the policy rules and helping the European Union member states set up the technical infrastructure to implement eIDAS.
  • Moreover, Cloud Signature Consortium is a 20-member organization based out of Brussels. It works to bring together leading players in the industry to effectively simplify and streamline the digital signing experience on the cloud and includes companies like Adobe, Digicert, and Safelayer.
Digital Signature Market Growth Rate

Competitive Landscape

The market for digital signatures is becoming fragmented majorly due to the demand from companies regarding cost-effective solutions and government initiatives.

  • July 2021- Box, a cloud storage company, expanded its portfolio to e-signature by launching Box Sign. Box acquired SignRequest, a Dutch e-signature startup, and the deal was worth USD 55 Million.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Need for Data Security While Transmission of Sensitive Information is Driving the Market Growth

    3. 4.3 Market Restraints

      1. 4.3.1 Financial Constraints for SMEs to Obtain Keys and Digital Certificate is Discouraging the Market Growth

    4. 4.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Deployment

      1. 5.1.1 On-Premise

      2. 5.1.2 Cloud

    2. 5.2 By Offering

      1. 5.2.1 Software

      2. 5.2.2 Hardware

      3. 5.2.3 Service

    3. 5.3 By End-user Industry

      1. 5.3.1 BFSI

      2. 5.3.2 Government

      3. 5.3.3 Healthcare

      4. 5.3.4 Oil & Gas

      5. 5.3.5 Military & Defense

      6. 5.3.6 Logistics & Transportation

      7. 5.3.7 Research & Education

    4. 5.4 By Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

      2. 5.4.2 Europe

        1. 5.4.2.1 United Kingdom

        2. 5.4.2.2 Germany

        3. 5.4.2.3 France

        4. 5.4.2.4 Rest of Europe

      3. 5.4.3 Asia Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 South Korea

        4. 5.4.3.4 Rest of Asia Pacific

      4. 5.4.4 Rest of the World

        1. 5.4.4.1 Latin America

        2. 5.4.4.2 Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 SunGard Signix Inc

      2. 6.1.2 DocuSign

      3. 6.1.3 Silanis-eSignLive

      4. 6.1.4 SafeNet, Inc.

      5. 6.1.5 ePadLink

      6. 6.1.6 Topaz systems

      7. 6.1.7 Ascertia

      8. 6.1.8 DigiStamp, Inc

      9. 6.1.9 GMO GlobalSign, Inc.

      10. 6.1.10 RightSignature

      11. 6.1.11 HelloSign

      12. 6.1.12 Wacom

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Digital Signatures Market market is studied from 2019 - 2026.

The Digital Signatures Market is growing at a CAGR of 21.5% over the next 5 years.

Europe is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

DocuSign, Silanis-eSignLive, SafeNet, Inc., ePadLink, Hellosign are the major companies operating in Digital Signatures Market.

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