About Signature Verification
Signature verification is refer as a technique which is used by banks, intelligence agencies and high-profile institutions to check the identity of an individual. Signature verification is mainly used to compare signatures in bank offices and other branches of market or industry. An image of the signature or a direct signature is fed into the software of signature verification and then it is compared to the signature image on file
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
CAGR | 11.3% |
The Players having a strong hold in the market are Biometric Signature ID CERTIFY GLOBAL Cyber-SIGN iSign Solutions. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Signature Verification market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cyber-SIGN (United States), Biometric Signature ID (United States), iSign Solutions (United States), Certify Global (United States), SutiSoft (United States), KeCrypt (United Kingdom), Ascertia (United Kingdom), Odyssey Technologies (India), Hitachi (Japan), WonderNet (Israel) and SQN Banking Systems (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Scriptel (United States), Parascript (United States), Secured Signing (New Zealand) and DynaSig (United States).
Segmentation Overview
AMA Research has segmented the market of Global Signature Verification market by Type (Software and Hardware), Application (Government & Defense, Banking, Financial services and Insurance (BFSI), Education and Research and Other End Users) and Region.
On the basis of application, Banking, Financial services and Insurance (BFSI) segment is dominating the market in the year 2022On the basis of geography, the market of Signature Verification has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, 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). North America region held largest market share in the year 2022. If we see Market by Technology, the sub-segment i.e. Static Signature Verification will boost the Signature Verification market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rapid increase in the digitisation of banking services and Shifting of BFSI industry towards digital transformation
Market Growth Drivers:
Growing acceptance of e-commerce and The need of decrease in the replication of identity
Challenges:
Increased in the need of reducing identity duplication
Restraints:
Extra hardware needed for authentication and Increasing error rates, high intra-class variability, and fluctuations in physical & emotional state of the users lead to errors
Opportunities:
Arrival of several modes of authentication methods like OTP, PIN, and biometrics, signature verification which adds an extra layer for security and Rise transactional frauds, security breaches, data theft, provides the highest level of security to the customers in many sectors is fueling the market growth
Market Leaders and their expansionary development strategies
iSign Solutions Inc., a leading supplier of electronic signature and other software solutions enabling secure, cost-effective and paperless management of contracts and other document-based transactions, announced the extension of its partnership with Cegedim SA (“Cegedim”) (EURONEXT: CGM), an innovative technology and services company and a leading player in electronic invoicing, global payments and dematerialization (the elimination of paper-based business processes) in Europe
iSign Solutions Inc., a leading supplier of electronic signature and other software solutions enabling secure, costeffective and paperless management of contracts and other document-based transactions, announced that a Top 5 U.S. property and casualty insurer has completed the implementation and rollout of iSign Console (the “Console”)
Key Target Audience
Digital signature solution and service providers, Information security directors/managers, End users/consumers/enterprise users, Government organizations, System integrators and resellers, Hardware Security Module (HSM) manufacturers, Professional service providers, Solution integrators, Cyber security vendors, Government organizations, Software vendors, Service providers and distributors, Research organizations, IT security agencies and Investors and venture capitalists
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.