Digital Signature Software Market Scope
Digital signature is type of electronic signature which is mathematical algorithm used to validate authenticity and integrity of message. It is routinely used to validate authenticity of email, a credit card transaction, and digital documents. It is one of the advanced and safer form of signature which works equivalently with paperwork’s. With digital signature, company are able to improve their financial transactions for overall collaboration and productivity. Geographically, North America region is expected to grow with the highest market share over the forecast period followed By Asia Pacific and Europe. Presence of leading market players creating industrial hub for Digital Signature Software across the North American region which is further impacting on industrial profitability in better manner.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Adobe (United States), VASCO Data Security International, Inc. (United States), PandaDoc (United States), RightSignature LLC (United States), Stack Holdings GmbH (United States), Sertifi Inc. (United States), Encryo (United States), Identrust Inc. (United States), DocuSign (United States), Entrust Datacard Corporation (United States), Dotloop (United States), eFileCabinet (United States), Cryptolog SAS (France), Ascertia Ltd (United Kingdom), DigiSigner (Germany) and Qwilr (Australia) |
CAGR | % |
The market of Digital Signature Software is expected to grow with rising demand for paperless documentation across several industries. Several companies are operating in the market to provide digital signature software with beneficial features. The market is highly fragmented with the presence of number of market players. They are gaining attention owing to raised demand. They are taking certain strategic initiatives with new entrants to expand their existing portfolio.
Adobe (United States), VASCO Data Security International, Inc. (United States), PandaDoc (United States), RightSignature LLC (United States), Stack Holdings GmbH (United States), Sertifi Inc. (United States), Encryo (United States), Identrust Inc. (United States), DocuSign (United States), Entrust Datacard Corporation (United States), Dotloop (United States), eFileCabinet (United States), Cryptolog SAS (France), Ascertia Ltd (United Kingdom), DigiSigner (Germany) and Qwilr (Australia) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Comsigntrust Ltd (Israel), Secured Signing Limited (New Zealand), AccountSight (India) and Nitro Software (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Digital Signature Software market by Type , by Application (Task Tracking, Audit Trail & Authentication, Document Analytics, Multi Party Signing and Others) and Region with country level break-up.
On the basis of geography, the market of Digital Signature Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In May 2023, Thales & Gemalto team up to develop and offer comprehensive digital identity and signature solutions, combining expertise for enhanced security.
In November 2023, Zoho Sign introduced AI-powered document recognition capabilities, allowing users to automatically extract data from signed documents for further processing. This streamlines workflows and saves time for businesses by reducing manual data entry.
Influencing Trend:
Enhancing approach for Payment Collection via Digital Signature
Market Growth Drivers:
Rising Demand for Electronic Documents with Least Paperwork’s and Increasing Digitisation in Routinely Documentation Process at Government Offices
Challenges:
Lack of Standardised Methods of Interaction between Senders & Recipients and Dearth of Awareness regarding Digital Signature
Restraints:
Issue regarding Compatibility Settings between Software and Driver’s Updated Versions
Opportunities:
Rising Preference for Cloud based Secure Solutions has Created Growth Opportunity and Huge Penetration of Digital Signature in Healthcare, BFSI & Telecom Industry
Key Target Audience
Digital Signature Providers, New Entrants/Investors, Strategic Business Planners, Governments and End Use Industry