The report “Digital Signature Market Share, Size, Trends, Industry Analysis Report By Component (Solutions (Hardware, Software), Services(Managed Services, Professional Services)); By Deployment (Cloud, On-Premise); By Application (Human Resources, Education and Research, BFSI, Government and Defense, Legal, Healthcare and Life Sciences, Real Estate, Manufacturing and Engineering) By Regions, Segments & Forecast, 2020 – 2026” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The Global Digital Signature market
size is expected to reach USD 22.1 Billion by 2026 according to a new study by
Polaris Market Research. The market is projected to witness a significant
growth over the forecast period. Strong demand from government as well as
defense sector among other applications is contributing to a rising demand for
digital signatures across the globe. Governments and defense applications use
digital signatures for various purposes such as forms & licenses issuing,
tax and returns filing, treasury orders, online government directives and
orders, file movements, filing of public information, online money orders,
among others.
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Features of digital signatures such
as high security, tamper proof cryptographic encryption, authentication at
multiple levels, as we as ability to provide certificate-based ID
authentication have led the governments across the globe to adopt digital
signature on a wide scale. Cost savings associated with digital signatures,
ease of usage and ability to bypass fraud issues and tedious paper work are
some of the other factors driving the growth in the segment.
The digital signature operators have
to maintain highly reliable as well as secure systems that cannot be easily
modified and bypassed. Whenever a legal dispute arises, digital signature
operators need to prove their operational reliability through means of expert
verification. This entails additional costs. Companies have to offset such
restraints to gain market share. Some of the leading players in the market
include Kofax, Rpost Technologies, Identrust, Secured Signing Limited, SIGNiX,
Entrust Datacard, DocuSign, Ascertia, Gemalto, OneSpan, Adobe, and Hellosign
among others
The rising number of mobile users is
proving beneficial for the overall market. Rising disposable income, cheap
availability of mobile phones, are some of the major factors benefitting the
rising number of mobile phone users. In comparison to situation five years ago,
the download speed of internet has increased by more than six times. In
addition, the prices and fees for mobile internet connection has reduced by
more than 90%. This has also benefitted the overall demand for increased mobile
devices sales. This trend is benefitting the overall benefitting the market from
applications that involve mobile usage.
E-commerce activities especially in
countries such as India and in China have witnessed tremendous rise in these
countries in the recent past and the momentum is expected to continue over the
next few years. High penetration of mobile phone users, declining internet
prices, broad product portfolio are some of the reasons for e-commerce growth.
All these activities have thus resulted in a rise in online payments which is
proving to be extremely beneficial for the overall market growth.
Improving economic conditions,
proactive approach taken by governments in Asia Pacific region to boost
industrial sector has resulted in a rapid urbanization in the region. The
region has witnessed a rapid rise in urban population in the past years. This
urban population has access to smartphones, and internet and are major drivers
for applications growth of the market
