The rising production of smartphones and tablets across the globe is expected to propel digital signature market growth says Fortune Business Insights in a report titled “Digital Signature Market Size, Share and Global Trend By Component (Hardware & Software), By Deployment Type (On-Premises & Cloud-Based), By Industry Vertical (BFSI, Education) and Geography Forecast till 2026.” Progression in E-commerce activities is fueling demand for digital signatures and enabling the growth of the global market.
Worldline Collaborates with Adobe for Digital Signature Services
Worldline, a European market leader of transaction and payment services announced its partnership with Adobe for cloud-based digital services. The new collaboration will enable customers to perform signatures on mobiles and tablets, with extremely secure digital certificates and thus helping in overcoming traditional methods of digital signatures. The new partnership is expected to fuel demand among organizations and customers, owing to the security aspect of the service which in turn will enable the growth of the global market. In addition, Acquisitions between key players for developing and advancing electronic signatures are also likely to drive the global digital signature market. for instance, DocuSign acquired SpringCM for 220M for the advancement of electronic signatures.
Rising E-Commerce Activities Will Facilitate Market Growth
A digital signature is an encrypted electronic stamp of authentication used on digital documents such as word files, PDF files as well as online documents. A digital signature allows organizations and users to sign documents digitally without the obligation to save them through third-party servers, hence maintaining security and control over the data. The rising number of smartphones and tablets is propelling growth for the global digital signature market. According to a report by WeAreSocial, presently there are more than seven billion mobile devices across the globe used by users. New cloud-based digital signatures offering uninterrupted workflow is predicted to create growth opportunities for the global digital signature market. In addition, rising e-commerce activities, growth in internet and smartphone penetration, the necessity for the organized workflow are boosting the global market. Benefits associated with the use of digital signatures such as improved efficiency, cost reduction, enriched customer experience and time-saving are some factors fostering the growth of the global market.
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Implementation of Stringent Regulations Will Promote Growth in Europe
Geographically, the global market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa. The global market was dominated by North America, which accounted for more than 40% share of the global digital signature market share in 2017 owing to the rising demand for hi-tech technology in digital signature along with the implementation of new regulations. The U.S law permits the implementation of digital signature technology in every state whereas in Canada the supreme court is allowing the acceptance of digitally signed documents as evidence for the crime. These factors are anticipated to boost the market in North America.
The market in Europe is likely to witness high growth during the forecast period due to the adoption of new regulations, allowing all digital signatures as evidence in the court of law resulting in growth in cross-country trading. In the Asia Pacific, the major factors driving the growth of the digital signature market are improvements in the healthcare sector and BFSI along with initiatives government associations for the elimination in paper-use and enhancing the use of digital signatures in countries such as China and India. Additionally, a rapid increase in tablets, smartphones, and computers and the growth of e-commerce have led to the rise in online bank transactions, thus aiding the growth of the digital signature market
- Entrust Datacard
- Signix Inc.
- Zoho Corp
- Rpost Technologies
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Table of Content
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology and Assumptions
2. Executive Summary
2. Market Dynamics
3.1. Drivers, Restraints and Opportunities
3.2. Emerging Trends of Market
4. Key Insights
4.1. Macro and Micro Economic Factors