Global Digital Signature Market was valued US$ 818.03 Mn in 2019 and is estimated to reach US$XX Mn by 2026 at a CAGR of XX%.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Digital signature can be used to send documents faster, almost immediately, as the documents can now be sent through mail and do not need to be delivered in person or via courier. An added drivers would be the decreased cost of sending the documents as the digital signatures are comparatively expensive than any courier service. Nobody else can dummy digital signature or present an electronic file incorrectly claiming it was signed by person.
Documents containing digital signatures are in no way different from documents containing a pen on paper signature as they would even stand in court when produced as a digital signature cannot be copied and also contains a date and time stamp. Actually the only restrain of using digital signature are the weak laws regarding cyber security which might cause any unnecessary hassles in case of a court case and that both parties have to purchase the certificates for the digital signature in order to use it instead of the one party courier charge.
Digital signature market is segmented by Solution, by Deployment type, by Application by Region. Solution is divided into Hardware, Software Services. Deployment type is splits into On-Premises, Cloud based. By Application market is classified into Government, Healthcare, Banking, and Retail etc. Region wise the market is divided into North America, Europe, Asia Pacific, Middle East Africa and Latin America.
Based on Solution, software are widely used to create digital signature. To create a digital signature, signing on a software like email programmers prepares to create a single hash of electronic data. Then used to encrypt the private key hash. Encrypted hash is a digital signature with other information such as hashing algorithms.
On the basis of Deployment model, major factors driving the market growth include widespread availability of cloud services low cost of installation, other cost benefits (such as renting cyber space for definite period leading to reduction in the cost of ownership), and availability of various types of models.
Based on Application, Digital signature market across banking, insurance, and commerce has evolved. Banking transactions are increasingly moving from face-to-face to digital platforms ATMs, smartphones, tablets, and online banking while this trend has significantly enhanced customer convenience and driven down salary expenses, it has introduced its own costs and risks.
In terms of region, North America is the XX % of largest market share in digital signature market with more than XX % revenue contribution to the global market in 2019 and the market is projected to witness significant growth in the coming years. Extensive growth opportunities observed due to flourishing demand of these signatures from legal and financial sector along with adhering of strict cyber regulatory reforms. Growth perspective, BFSI and government are the two potential markets, which are expected to witness significant growth rates during the forecast period.
Global Digital Signature Market, Key Highlights:
• Global Digital Signature Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Digital Signature Market
• Global Digital Signature Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global Digital Signature Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Global Digital Signature Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Digital Signature Market are also profiled.
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Global Digital Signature Market, by Solution
Global Digital Signature Market, by Deployment model
• Cloud based
Global Digital Signature Market, by Application
Global Digital Signature Market, by Region
• North America
• Asia Pacific
• Middle East Africa
• Latin America
Key Players Analysed in Global Digital Signature Market
• Adobe Systems Inc.
• Microsoft Corporation
• Docusign, Inc.
• Gemalto, Inc.
• IdenTrust, Inc.
• International Business solutions llc
• Kofax Limited
• Korea SYSTEM’s TECH Inc.
• Kotrade Inc.
• Right Signature LLC
• Secured Signing Limited,
• Signix Inc.
• Oracle Corporation.
• Secured Signing Limited
• SIGNiX Inc.
• Entrust Datacard Corporation.
• GlobalSign (US)
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