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Digital Signature market is growing because of increasing use of digital signatures to prevent deception
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In addition to this, people have also started making use of digital signature-based smart cards for security purposes in many developed countries including Germany and the U.S. Due to these advanced applications of digital signatures in the BFSI sector, the requirement for digital signature technology is increasing. Among the different regions, namely Latin America (LATAM), Asia-Pacific (APAC), North America, Middle East & Africa (MEA), and Europe, North America dominated the digital signature market during 2013-2017 and is further predicted to create the highest demand for the technology in the coming years.
The fastest growth in demand for the digital signature technology is expected to be witnessed by the APAC region during the forecast period due to the increasing focus on reducing deception, expanding e-commerce market, and rising concern regarding security. The prevention of deception has become a factor of focus for many industries which rely on securing signatures on legal documents.
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Attributed to this, the utilization of digital signatures is growing rapidly across the world. A digital signature is electronic data that carries the intent of a signature. In the healthcare industry, because of authentication of digital signatures of healthcare professionals, paper-based prescriptions can be digitally transferred from the doctor to hospital's server and then to patient's pharmacy, thereby inhibiting the patient's or some other person's ability to forge doctor's prescription. Pharmacists have an online copy of the prescription for comparison, which prevents deception and ensures greater transparency.
The research offers historical market size of the global digital signature market for the period 2013-2017 and market forecast for the period 2018-2023.
Market Segmentation by Component
Software
Hardware
Services
Managed
Professional
Market Segmentation by Deployment Type
Cloud-Based
On-Premises
Market Segmentation by Application
Government
IT
Healthcare and Lifescience
Banking, Financial Services and Insurance (BFSI)
Telecom
Retail
Others
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