U.S. Digital Signature Market Will Reach $1,013 Million by 2023; U.S. Digital Signature Market Opportunities and Demand by 2023

The U.S. digital signature market will reach $1,013 million by 2023, is expected to register over 20% CAGR during 2018-2023. Increasing use of digital signatures to eliminate fraud, has been cited as one of the prime factors for strong growth of the market in the country. A lot of counterfeit and tempering incidences has been observed in software distribution and financial transaction processes across the U.S., which is creating robust demand for digital signature in the country.

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Digital signature enables the sender to digitally sign and send the document, and allow them to authenticate receiver. Obligation of validating digital documents across different verticals including patient consents, contracts, court documents, claims, cash management, policies, and records, is backing the market growth.

The market for cloud based deployment was larger than on-premised based deployment in the U.S. digital signature market. The market for cloud deployment is also expected to witness a faster growth than on-premise, during the forecast period. The fast growth of cloud based will be driven by companies operating in the market that are rolling out subscription based hosted offerings. Moreover, the global acceptance of cloud based services and emergence of pay-as-you-go models have escalated its demand among enterprises in the country.

The U.S. digital signature market is moderately competitive with players developing new strategies, particularly new product launches to reach their customers in the most effective and efficient way. For instance, in July 2017, Zoho, an operating system (OS) provider, announced the launch of Zoho Sign. The new launch is a digital signature app for businesses, aiming to set the company’s big step in the digital transaction management market. The new launch would enable businesses to sign and send legally binding contracts from anywhere, using a signing process, which is highly simple in nature.

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

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