Growth opportunity in U.S. Digital Signature Market

The U.S. digital signature market size was valued at $230.7 million in 2016, and is forecasted to witness over 20% CAGR during the forecast period.

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.

Expansion of U.S. e-commerce industry generating more demand for digital signatures
The expansion of e-commerce industry in the country is witnessed as a good growth opportunity for the market. The U.S. e-commerce industry is projected to expand in future amid rising internet penetration and ease in online transactions. According to the e-Commerce Foundation, in 2015, the e-commerce market in the country was second largest across the globe. The use of digital signature by various e-commerce companies provides them with integrity, confidentiality, authentication and legal non-repudiation in business transactions.

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Moderate competition in the industry

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.

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
Ascertia

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