Digital Signature Market Expected to Reach USD 61.91 Billion by 2030|Top Key players such as -IDENTRUST, ASCERTIA and DOCUSIGN

According to the report published by Allied Market Research "The Digital Signature Market Expected to Reach USD 61.91 Billion by 2030|Top Key players such as -IDENTRUST, ASCERTIA and DOCUSIGN." These players have adopted different strategies such as new product launches collaborations expansion joint ventures agreements and others to increase their market share and maintain dominant shares in different regions.

Enhanced operational efficiency that leads to reduction in costs, high acceptance in internal processes or communication in enterprises, and need for data security & authentication with rise in cyber-attacks drive the growth of the global digital signature market. However, the high cost of investment and variations of existing applications or systems hinder market growth. On the other hand, innovation in technology, adoption of cloud-based solutions, and supportive legislation promoting the usage of digital signature create new opportunities in the coming years.

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The global digital signature market is segmented into component, deployment model, industry vertical, and geography. In terms of component, the digital signature industry is studied across hardware, software, and services. The deployment model analyzed in this report is premise and cloud based. Further, the report is segmented based on industry as BFSI (Banking, financial services, and insurance), education, government, healthcare and life science, IT & telecommunication, real estate, human resource, and others. Geographically, the digital signature market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Based on component, the software segment held the highest share in 2020, contributing to nearly half of the global digital signature market, and is expected to continue its lead position during the forecast period. Moreover, this segment is expected to witness the highest CAGR of 34.0% from 2021 to 2030. This is due to an increase in demand for digital signature software across various sectors such as healthcare and BFSI. The research also analyzes the segments including hardware and services.

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Region wise, the digital signature market was dominated by North America in 2020 and is expected to retain its position during the forecast period. This is attributed to early adoption of digital signature software among the North American countries and presence of key players of the market. However, Europe is expected to witness a significant growth rate during the forecast period, owing to a rise in adoption of digital signature software by various venders in order to prevent and detect threats at early stages.

The key players profiled in the digital signature market share are ADOBE, IDENTRUST INC., ASCERTIA, DOCUSIGN, INC., ENTRUST CORPORATION, Thales Group, Lexmark International, Inc., Rpost., Secured Signing Limited, and VASCO Data Security International, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the digital signature industry.

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Covid-19 Scenario:

● The adoption of digital transactions surged considerably, which in turn, led to increased demand for digital signatures during the Covid-19 pandemic for easy, authenticated, and hassle-free transactions across the globe.

● According to a report published by Adobe, its digital signature tools segment led to more than 53% surge in sales revenue in the year, 2019­­-2020. The trend of digital signature solutions is estimated to expand into employees' tools to speed up work and increase efficiency.

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