Digital Signature Market Overview, Segment Analysis, Growth Opportunities and Forecast to 2023

The global digital signature market attained a value of $826.7 million and is projected to register a 26.5% CAGR during the forecast period (2018-2023). The market is growing due to the rising usage of digital signatures for preventing deception, supportive government policies, and increasing adoption of digital signature-based biometric in the banking, financial services, & insurance (BFSI) sector. Electronic date which carries the intent of a signature is referred to as digital signature. The scope of communication between users and private and public sectors is improved with the use of digital signature.

Request to get the report sample pages at : www.psmarketresearch.com/market-analysis/digital-signature-market/report-sample

When component is taken into consideration, the digital signature market is categorized into services, software, and hardware. Among these, the services category dominated the market during the historical period (2013-2017), with a revenue share of over 44.0% in 2017, and is further projected to retain its position during the forecast period. The software category is predicted to witness the fastest growth during the forecast period. This is because software is particularly designed for replacing paper-based signature, increase efficiency, enhance safety and security, and reduce operational cost across organizations.

In terms of application, the digital signature market is divided into BFSI, telecom, government, retail, IT, healthcare & life sciences, and others (which include construction, architecture, legal, and engineering). Out of these, the government application accounted for the major share of the market during the historical period and is further expected to dominate the market during the forecast period. The reason for this is that the governments of different countries are focusing on digitizing their economies. During the forecast period, the BFSI application is projected to grow at the fastest pace.

The rising adoption of digital signature-based biometrics in the BFSI sector is among the primary driving factors of the digital signature market. The digital signature-based biometric technology is one of the most secure methods for authentication and identification procedures, as it possesses the unique characteristics of the user's signature. The signature pattern of any individual cannot be stolen or copied for any purpose. In addition to this, developed nations, such as Germany and the U.S. have started making use of digital signature-based smart cards for security purposes, which is further driving the market.

Enquire Before Purchase: www.psmarketresearch.com/send-enquiry?enquiry-url=digital-signature-market

The growing adoption of digital signatures in the healthcare industry is a key trend being witnessed in the digital signature market. Clinics, hospitals, and private practices deal with a lot of paperwork, such as invoices, registration documents, medical discharge, and consent for treatment plans. Collecting conventional hand-written signatures from patients at registration and beyond needs the usage of paper forms. The process of printing, scanning, and archiving forms is time consuming and can lead to delays in admissions, which is why healthcare institutions are implementing digital signatures for admissions.

Hence, the market is witnessing growth due to the rising adoption of digital signature for the prevention of deception and the increasing usage of digital signature in the BFSI sector.

Contact:

P&S Intelligence
Toll-free: +1-888-778-7886 (USA/Canada)
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: www.psmarketresearch.com

About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

This release was published on openPR.