Digital Signature Market to grow at a CAGR of 33.2% and worth $61.91 billion by 2030

According to a recent report published by Allied Market Research, titled, "Digital Signature Market by Component, Deployment Model, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2030,"

The global digital signature market size was valued at $3.56 billion in 2020, and is projected to reach $61.91 billion by 2030, growing at a CAGR of 33.2% from 2021 to 2030.

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A digital signature is a modern alternative to signing documents with paper and pen. It uses an advanced mathematical technique to check the authenticity and integrity of digital messages and documents. It guarantees that the contents of a message are not altered in transit and helps the end user to overcome the problem of impersonation and tampering in digital communications. Digital signatures also provide additional information such as the origin of the message, status, and consent by the signer.

Furthermore, the key factor that drives the digital signature market includes high acceptance of digital signatures in internal processes or communication in enterprises and enhanced operational efficiency leads to reduction in costs positively impacts the growth of the market. In addition, growing need for data security and authentication owing to increase in cyber-attacks boost the growth of the market across the globe. However, factors such as resistance to variation of existing applications or systems and high cost of investment are limiting the growth of the market. On the contrary, innovation in technology, increase in adoption of cloud-based solutions, and new legislations promoting the use of digital signature are expected to offer remunerative opportunities for the expansion of the market during the forecast period.

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Competitive Analysis:
The competitive environment of Digital Signature Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, Digital Signature Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Key Players:
ADOBE
IDENTRUST INC.
ASCERTIA
DOCUSIGN, INC.
ENTRUST CORPORATION
Thales Group
Lexmark International, Inc.
Rpost., Secured Signing Limited
VASCO Data Security International, Inc and Many More

Region wise, the digital signature market was dominated by North America in 2020 and is expected to witness the highest growth rate during the forecast period, owing to growing popularity of digital signatures among the organization. In addition, early adoption of digital signature solutions is providing a lucrative opportunity for the market. However, Europe is expected to witness significant growth during the forecast period, owing to rising application of digital signature such as legal document used for financial transactions, email service providers, and software distribution, areas where the authenticity and integrity of digital communications are crucial are expected to boost the digital signature market.

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The outbreak of COVID-19 is anticipated to have a positively impact on growth of digital signature market. This is attributed to rise in demand for digital signatures to help organizations and clients sigh digitally and approve urgent files wherever and whenever. However, key vendors of the e signature market developed strategies to expand their reach in markets that previously were dominated by wet ink signatures.

For instance, U.S. based digital signature services provider, DocuSign-announced specialized digital signature tools for the real estate industry. This helped DocuSign to help the realtors and their customers to facilitate necessary transactions with more ease. The digital signature sector was also benefitted by many governmental polices that were paced to help businesses during the period of the pandemic. For instance, the Institute of Chartered Accountants of India (ICAI) allowed the chattered accountants practicing from homes to sign audit reports digitally.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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