Digital Signature Market to Reach USD 61.91 Billion by 2030| E-signatures Revolutionize Document Handling, Fueling Digital Signature Market

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, high cost of investment and variations of existing applications or systems hinder the market growth. On the other hand, innovation in technology, adoption of cloud-based solutions, and supportive legislations promoting the usage of digital signature create new opportunities in the coming years.

According to the report, the global digital signature market generated $3.56 billion in 2020, and is expected to reach $61.91 billion by 2030, witnessing a CAGR of 33.2% from 2021 to 2030.

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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.

Based on region, North America accounted for the highest market share in 2020, holding nearly two-fifths of the global digital signature industry, and is expected to maintain its dominance in terms of revenue by 2030. This is due to increase in concerns related to the protection of critical IT infrastructure and sensitive data in recent years. However, Europe is projected to portray the fastest CAGR of 34.2% during the forecast period, owing to rapid adoption of cloud based and hybrid deployment methods and increased adoption in almost every public as well as private enterprises.

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Key Benefits For Stakeholders

1.The study provides an in-depth analysis of the digital signature market forecast along with the current trends and future estimations to explain the imminent investment pockets.

2.Information about key drivers, restraints, & opportunities and their impact analysis on the global market is provided in the report.

3.Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.

4.The quantitative analysis of the digital signature market trends from 2021 to 2030 is provided to determine the market potential.

International and national banks, government offices, small and medium businesses, and other entities find the need for digital signatures imperative to safeguard crucial data and exert comprehensive control over it. The adoption of digital signatures is prevalent across various organizations as a preventive measure against data breaches, ensuring reliable communication with business partners, and enhancing internal processes. The acceptance of digital signature solutions is notably higher among younger consumers, contributing to their integration into daily work activities. As evidenced by a 2020 Adobe report, more than 61% of Adobe's client base in the APAC regions during the 2019-2020 period comprised millennials. Consequently, this trend aids the digital signature industry in positioning itself as a primary communication and authentication solution within modern mainstream business enterprises, thereby propelling market growth.

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Based on region, North America accounted for the highest market share in 2020, holding nearly two-fifths of the global digital signature industry, and is expected to maintain its dominance in terms of revenue by 2030. This is due to increase in concerns related to the protection of critical IT infrastructure and sensitive data in recent years. However, Europe is projected to portray the fastest CAGR of 34.2% during the forecast period, owing to rapid adoption of cloud based and hybrid deployment methods and increased adoption in almost every public as well as private enterprises.

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 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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Leading Market Players

➢ Adobe
➢ Identrust Inc.
➢ Ascertia
➢ Docusign, Inc
➢ Entrust Corporation
➢ Thales Group
➢ Lexmark International, Inc.
➢ Secured Signing Limited
➢ Vasco Data Security International, Inc.

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