The digital signature market is gaining huge popularity owing to its ability to improve digital workflow and enabling time and cost efficiencies along with strengthening security measures. It has been observed that implementation of digtal signature in workplace is enabling the business organizations to send business and legal documents in an authenticated manner that reduces risk for the enterprises and enables efficient work process. These factors are thereby contributing towards the growth of the market.
On the basis of solution, the digital signature market is segmented into hardware, software and services. Among all these segments, software segment is expected to witness fastest growth during the forecast period. Software segment provides cost efficiencies and low transaction time that enables various business enterprises to provide additional benefits to its users along with improved efficiencies. This segment is further expected to bolster the growth of the market across the globe.
Geographically, North America is the largest digital signature market with more than 40% revenue contribution to the global market in 2017 and the market is projected to witness significant growth in the coming years. The growth of this market is attributed towards increasing avenues for growth that is witnessed due to prosperous demand of digital signatures from financial and legal domain. These sectors are primarily focussing upon adherence to stringent regulatory reforms formulated by the cyber security.
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Furthermore, it has been observed that the Asia-Pacific digital signature market is expected to witness the highest CAGR of 31.0% during the forecast period, owing to extensive adoption of digital signature technology in various small and medium and large enterprises. Moreover, the government of India has implemented several measures in order to enhance the growth of the digital signature industry.
Some of the key players in the digital signature industry are Adobe Systems, Inc, Ascertia, Microsoft Corporation, Docusign, Inc., Entrust Datacard Corp, 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 and Oracle Corporation.
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