Digital Signatures Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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 Signatures Market Overview
Study Period: 2019- 2026
Base Year: 2021
Fastest Growing Market: Asia-Pacific
Largest Market: North America
CAGR: 28.1 %

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Market Overview

The digital signatures market registered a CAGR of 28.1% 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 has been a consistent need for data security during the transmission of sensitive information. Owing to the e-commerce and online banking boom, companies needed to secure their networks to gain customers' confidence. This 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.
  • With the evolution of technology, the way of executing documents has also evolved. With the increasing demand for modern, convenient methods for entering binding transactions, electronic agreements and digital signatures have gained a lot of momentum in recent years. Such developments have significantly changed how these transactions are entered and the execution processes.
  • Younger consumers have also been a driving force behind the rise in digital signatures in the financial services industry. Various Gen Z and Millennials across the world have signed financial documents, such as opening a bank account, loan agreement, investment, wealth management, mortgage agreements during the pandemic time, which has resulted in a burgeoning of digital signature demand. Also, government agencies, like the DMV and immigration, have also provided more e-signature support for the critical documents.
  • With the outbreak of COVID-19, the digital signature market is anticipated to exhibit a positive growth rate owing to the rise in remote working that has shifted the focus from relying on paper-based documentation and increasing digitalization of the transaction process. Enterprises are seeking business methods that are seamless and efficient and can be done from anywhere. Document processes have been one of the processes that enterprises are considering taking online.

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.

The study under consideration covers hardware, software as well as services offerings. The study also analyses different deployment modes of digital signatures, such as on-premise and cloud platforms.

The market estimates offered as part of the study considers revenue accrued from the software, hardware, and subscription, including license-based services offered by various vendors in the market.

The report also covers the analysis of the impact of COVID-19 on the market, the stakeholders, and the same has been considered for the current market estimation and future projections.​

By Deployment
By Offering
By End-user Industry
Oil and Gas
Military and Defense
Logistics and Transportation
Research and Education
Other End-Users (Real Estate, Manufacturing, Legal, IT and Telecom)
By Geography
North America
United States
United Kingdom
Rest of Europe
Asia Pacific
South Korea
Rest of Asia Pacific
Rest of the World
Latin America
Middle East and Africa

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Key Market Trends

Government Sector is expected to witness a significant growth

  • Adopting digital signature solutions helps in a wide range of document processing and automation capabilities for federal, state, and local governments that improve access to critical data while simultaneously reducing costs associated with obtaining it. Some of the essential applications of government where the signature and verification solutions are helpful include petition automation, Vote-by-Mail, Forms Data Extraction, and mail processing.
  • There have been increasing fraud cases by forged signatures in Municipalities, state and local governments aren’t far behind on the targets for fraudsters. State and local governments spend a significant amount of money with thousands of different entities, and keeping track of the transactions takes effort.
  • Various efforts by the government have been put into developing a digital infrastructure that triggers the need for software-based solutions for the data accumulated. The United States government already has IT initiatives such as digital experience, identity, credential, access management (ICAM), and digital strategy.
  • Some of the important contents of the act included standards for facilities involved with digital signature certification and data protection methods, countermeasures against counterfeiting and falsification of electronic signatures and electronic documents, and procedures for signing up for and using the digital signature authentication service, and methods of verifying subscribers.
Digital Signatures Market

North America to Hold the Highest Market Share

  • The North American region has been one of the highest revenue-generating markets primarily owing to the increased shift of organizations towards cloud-based solution adoption, rapid mobile adoption, and the presence of prominent players occupying a significant market share.
  • For instance, as per Cisco, the region was anticipated to be one of the most cloud-ready regions by the end of 2021. This was owing to the increased preference of companies towards cloud-based services, which is expected to propel the growth of digital solutions on secure cloud.
  • Government initiatives related to e-signatures, such as the Uniform Electronic Transactions Act (UETA) and the Electronic Signatures in Global and National Commerce Act (E-SIGN), permitted the usage of e-sign for every transaction, thereby playing a crucial role in driving the market. Trade deals, like the United States Mexico Canada Agreement (USMCA), also encourage the usage of e-signatures.
  • Major vendors are rolling out innovative offerings to remain competitive in the market. Companies have been involved in technological advancements, like the launch of Check Intelligence by Mitek, a US-based signature verification platform, in June 2021. With such rapid technological advancement, alongside increased regulation by the government, such as the Improving Digital Identity Act of 2020, the country is expected to witness a more secure environment for the growth of the studied market.
  • The region witnessed exceptionally higher usage of software solutions during the 2020 elections. The COVID-19 pandemic restricted the movement of millions of voters that compelled the government to encourage the voters to adopt digital voting. This directly impacted the usage of digital signature software prompting government collaboration with the signature verification developer companies.
Digital Signatures Market

Competitive Landscape

The market for digital signatures is highly fragmented, majorly due to the demand from companies regarding cost-effective solutions and government initiatives. However, with innovative and advanced solutions, many of the companies are increasing their market presence by securing new contracts and by tapping new markets.

  • May 2021- Rashtriya Swayamsevak Sangh (RSS) affiliate Swadeshi Jagran Manch (SJM) has launched a digital signature campaign that appeals to the Indian government to use its sovereign rights to grant a compulsory license to more pharmaceutical companies for the production of COVID vaccines and medicines.
  • August 2021- Senators in the United States introduced Digital Authenticity for Court Orders Act of 2021 with the aim to improve procedures for the authentication, tamper-evident, and secure delivery as well as transmission of certain court orders. The bill was introduced to solve the growing problem of using bogus court documents to authorize surveillance improperly.

Recent Development

  • February 2021- Glasgow-based software developer Videosign created a facial recognition tool for remote witnessing contracts and legal documents. Launched in 2019, following the introduction of new rules allowing for remote signing and witnessing of contracts, the company established a development lab in Glasgow. It made a system that allows users to upload documents for tamper-proof electronic signatures.
  • November 2021 - RentTango, an innovative rental property marketing, and leasing platform, launched a new webinar series -- Let's Lease Together, the first of which showcases the integration of signNow with RentTango. The webinar will demonstrate how the integration goes beyond digital signing technology, providing automated workflows that address deal terms, legal requirements, and more accelerating compliant lease preparation and execution.

Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.2.1 Bargaining Power of Suppliers

      2. 4.2.2 Bargaining Power of Buyers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Threat of Substitute Products

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Assessment of COVID-19 Impact on the Industry


    1. 5.1 Market Drivers

      1. 5.1.1 Rise in E-signatures and Adoption of Cloud-based Services

      2. 5.1.2 Increse in Remote Work Culture and Overseas Contracts

    2. 5.2 Market Restraints

      1. 5.2.1 Increasing Vulnerability Related to Cyber-attacks and Frauds


    1. 6.1 By Deployment

      1. 6.1.1 On-Premise

      2. 6.1.2 Cloud

    2. 6.2 By Offering

      1. 6.2.1 Software

      2. 6.2.2 Hardware

      3. 6.2.3 Service

    3. 6.3 By End-user Industry

      1. 6.3.1 BFSI

      2. 6.3.2 Government

      3. 6.3.3 Healthcare

      4. 6.3.4 Oil and Gas

      5. 6.3.5 Military and Defense

      6. 6.3.6 Logistics and Transportation

      7. 6.3.7 Research and Education

      8. 6.3.8 Other End-Users (Real Estate, Manufacturing, Legal, IT and Telecom)

    4. 6.4 By Geography

      1. 6.4.1 North America

        1. United States

        2. Canada

      2. 6.4.2 Europe

        1. United Kingdom

        2. Germany

        3. France

        4. Rest of Europe

      3. 6.4.3 Asia Pacific

        1. China

        2. Japan

        3. South Korea

        4. Rest of Asia Pacific

      4. 6.4.4 Rest of the World

        1. Latin America

        2. Middle East and Africa


    1. 7.1 Company Profiles

      1. 7.1.1 SunGard Signix Inc

      2. 7.1.2 DocuSign

      3. 7.1.3 Silanis-eSignLive

      4. 7.1.4 SafeNet, Inc.

      5. 7.1.5 ePadLink

      6. 7.1.6 Topaz systems

      7. 7.1.7 Ascertia

      8. 7.1.8 DigiStamp, Inc

      9. 7.1.9 GMO GlobalSign, Inc.

      10. 7.1.10 RightSignature

      11. 7.1.11 HelloSign

      12. 7.1.12 Wacom

      13. 7.1.13 Adobe Sign

      14. 7.1.14 airSlate Inc.

      15. 7.1.15 PandaDoc Inc

      16. 7.1.16 SignEasy

    2. *List Not Exhaustive


**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 28.1% over the next 5 years.

Asia-Pacific 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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