U.S. Digital Signature Market - Revenue, Industry Trends, Demand and Growth Opportunities by 2023

U.S. digital signature market size is forecasted to reach $1,013 million by 2023, is expected to register over 20% CAGR during 2017-2023. In terms service, the U.S. digital signature market is categorized as managed and professional. Managed services contributed larger revenue to the U.S. market as compared to professional services, in 2016. However, the market for professional service is expected to grow faster than managed, during the forecast period. With emerging trend to outsource proactive basis management responsibilities and functions, digital signature managed services have gained huge popularity among businesses looking to cut down operational cost and other expenses. This led the managed service segment contribute nearly 60% to the market in 2016.

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In terms of application, the U.S. digital signature market is categorized as IT & telecom, BFSI, healthcare & life sciences, retail & manufacturing, government and others. In 2016, the largest application area of the digital signatures in the U.S. was the government sector. After the implantation of various digital signature related laws by the U.S. government, including UETA and GPEA, the authentication process has gradually seen transition from manual to digital. Due to this, the government sector will remain the major user of digital signatures in the coming years. The U.S. digital signature market for BFSI sector will witness the fastest growth during the forecast period. The growth of the market in the BFSI sector can be attributed to the increasing acceptance of digital signature hardware tools in the sector, such as biometric systems and smart cards.

The players in the U.S. digital signature market are undergoing mergers and acquisitions to gain a larger market share. For instance, in May 2017, Gemalto announced the closing of 3M's identity management business acquisition. According to the terms of the acquisition, the identity management business of 3M will be integrating with Gemalto’s government programs business. From this acquisition, Gemalto aims to fast-track the deployment of trusted national identities and further offer the current digital economy a strong end-to-end biometric authentication solution.

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Some of the key players in U.S. digital signature market are Secured System Limited, Adobe Systems Inc., Entrust Datacard Corporation, Gemalto N.V., SIGNiX Inc., DocuSign Inc., eSignLive, and Ascertia.

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