Product Code: GVR-4-68040-074-9
Digital Signature Market Growth & Trends:
The global digital signature market size is anticipated to reach USD 38.16 billion by 2030, expanding at a CAGR of 39.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increasing internet and smartphone penetration across the globe is expected to fuel the market growth from 2024 to 2030. For instance, according to DataReportal, an online reference library, a total of 5.18 billion people worldwide were using the internet at the beginning of Q2 2023.
The increasing partnerships between businesses and digital signature companies to implement digital signatures bode well for the growth of the market. For instance, in March 2023, BlackBerry Limited, a software company, entered a partnership with Adobe, a computer software Company. This partnership aimed to deliver secure forms with electronic signatures over mobile devices. The software solution, integrating BlackBerry UEM and Adobe Experience Manager Forms, is tailored for prevalent mobile device platforms and complies with the stringent security standards mandated by regulated industries.
Digital signature offers various advantages such as time-saving and cost savings to the business and individual users, enabling them to sign documents electronically from remote locations. Furthermore, the implementation and modernization of laws by various governments across different jurisdictions for regulating the market are expected to boost trust among the users and eventually fuel the market's growth. Additionally, digital transformation across industries will help the market grow from 2024 to 2030.
The COVID-19 pandemic had an immediate positive impact on the market. The rising adoption of digital signature solutions during the COVID-19 pandemic attracted venture capital firms to invest in various digital signature software providers. For instance, in June 2021, Yousign, an eSignature solution for SMBs, announced that it raised USD 36.6 million through a Series A funding round led by Lead Edge Capital Management, LLC. With the funds raised company aimed at reaching around 50,000 European SMBs by 2024.
Digital Signature Market Report Highlights:
- Based on components, the solutions segment dominated the market in 2023. Rising adoption of digital signature solutions owing to their benefits such as improved security, improved customer experience, cost reduction, and improved productivity is attributed to the segment's growth
- Based on level, the Qualified Electronic Signatures (QES) segment is expected to grow at the highest CAGR from 2024 to 2030. QES provides a higher level of legal validity and compliance. It offers enhanced legal certainty and is frequently mandated for transactions involving sensitive or high-value documents, such as contracts, legal agreements, and government-related documents
- Based on deployment, the cloud segment is expected to grow at the highest CAGR from 2024 to 2030. The growing adoption of cloud-based digital signatures by end-users as it offers benefits such as scalability and flexibility is attributed to the segment's growth
- Based on end-user, the businesses segment dominated the market in 2023. The rising adoption of digital signatures by businesses as it enables them to meet compliance requirements by offering a legally recognized method of signing and validating electronic documents is the major driving factor behind the segment's growth
- Based on industry vertical, the BFSI segment led the market in 2023.BFSI firms increasingly use digital signatures to enhance security and efficiency in business operations such as transaction processing and identity verification
- The Asia Pacific region is expected to grow at the highest CAGR from 2024 to 2030. The increasing digital transformation in countries such as China, India, Singapore, and South Korea is attributed to the market growth in the region. These countries play a major role in the adoption of digital signatures across the Asia Pacific region
- In February 2023, GlobalSign launched a cloud-based signing service, named Qualified Signing Service (QSS). This service is used for qualified electronic signatures and seals. Furthermore, this service complies with eIDAS, an EU regulation for electronic identification and trust services
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Market Variables, Trends, and Scope
- 3.1. Market Introduction/Lineage Outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Market Dynamics
- 3.3.1. Market Drivers Analysis
- 3.3.1.1. Growing investments in digital signature solutions providing companies
- 3.3.1.2. Rising internet penetration and adoption of smartphones
- 3.3.1.3. Benefits of digital signatures
- 3.3.2. Market Challenge Analysis
- 3.3.2.1. Lack of awareness regarding the legality of digital signatures
- 3.3.3. Market Opportunity Analysis
- 3.3.3.1. Implementation of laws and regulations for digital signatures
- 3.4. Digital Signature Market Analysis Tools
- 3.4.1. Porter's Analysis
- 3.4.1.1. Bargaining power of the suppliers
- 3.4.1.2. Bargaining power of the buyers
- 3.4.1.3. Threats of substitution
- 3.4.1.4. Threats from new entrants
- 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL Analysis
- 3.4.2.1. Political landscape
- 3.4.2.2. Economic and Social landscape
- 3.4.2.3. Technological landscape
- 3.4.2.4. Environmental landscape
- 3.4.2.5. Legal landscape
Chapter 4. Digital Signature Market: Component Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Digital Signature Market: Component Movement Analysis, 2023 & 2030 (USD Million)
- 4.3. Solutions
- 4.3.1. Solutions Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 4.4. Services
- 4.4.1. Services Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
Chapter 5. Digital Signature Market: Level Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Digital Signature Market: Level Movement Analysis, 2023 & 2030 (USD Million
- 5.3. Advanced Electronic Signatures (AES)
- 5.3.1. Advanced Electronic Signatures (AES) Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 5.4. Qualified Electronic Signatures (QES)
- 5.4.1. Qualified Electronic Signatures (QES) Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
Chapter 6. Digital Signature Market: Deployment Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Digital Signature Market: Deployment Movement Analysis, 2023 & 2030 (USD Million)
- 6.3. Cloud
- 6.3.1. Cloud Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 6.4. On-premise
- 6.4.1. On-premise Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
Chapter 7. Digital Signature Market: End User Estimates & Trend Analysis
- 7.1. Segment Dashboard
- 7.2. Digital Signature Market: End User Movement Analysis, 2023 & 2030 (USD Million)
- 7.3. Individuals
- 7.3.1. Individuals Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.4. Businesses
- 7.4.1. Businesses Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.5. Organizations
- 7.5.1. Organizations Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
Chapter 8. Digital Signature Market: Industry Vertical Estimates & Trend Analysis
- 8.1. Segment Dashboard
- 8.2. Digital Signature Market: Industry Vertical Movement Analysis, 2023 & 2030 (USD Million)
- 8.3. BFSI
- 8.3.1. BFSI Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.4. Health Care & Life Science
- 8.4.1. Health Care & Life Science Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.5. IT & Telecom
- 8.5.1. IT & Telecom Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.6. Government
- 8.6.1. Government Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.7. Retail
- 8.7.1. Retail Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.8. Others
- 8.8.1. Others Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
Chapter 9. Digital Signature Market: Regional Estimates & Trend Analysis
- 9.1. Digital Signature Market Share, By Region, 2023 & 2030 (USD Million)
- 9.2. North America
- 9.2.1. North America Digital Signature Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- 9.2.2. U.S.
- 9.2.2.1. U.S. Digital Signature Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- 9.2.3. Canada
- 9.2.3.1. Canada Digital Signature Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- 9.2.4. Mexico
- 9.2.4.1. Mexico Digital Signature Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- 9.3. Europe
- 9.3.1. Europe Digital Signature Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- 9.3.2. U.K.
- 9.3.2.1. U.K. Digital Signature Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- 9.3.3. Germany
- 9.3.3.1. Germany Digital Signature Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- 9.3.4. Spain
- 9.3.4.1. Spain Digital Signature Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- 9.3.5. France
- 9.3.5.1. France Digital Signature Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- 9.3.6. Italy
- 9.3.6.1. Italy Digital Signature Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- 9.4. Asia Pacific
- 9.4.1. Asia Pacific Digital Signature Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- 9.4.2. China
- 9.4.2.1. China Digital Signature Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- 9.4.3. Japan
- 9.4.3.1. Japan Digital Signature Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- 9.4.4. India
- 9.4.4.1. India Digital Signature Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- 9.4.5. Australia
- 9.4.5.1. Australia Digital Signature Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- 9.4.6. South Korea
- 9.4.6.1. South Korea Digital Signature Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- 9.5. Latin America
- 9.5.1. Latin America Digital Signature Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- 9.5.2. Brazil
- 9.5.2.1. Brazil Digital Signature Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- 9.6. Middle East & Africa
- 9.6.1. Middle East & Africa Digital Signature Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- 9.6.2. UAE
- 9.6.2.1. UAE Digital Signature Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- 9.6.3. Kingdom Of Saudi Arabia (KSA)
- 9.6.3.1. Kingdom Of Saudi Arabia (KSA) Digital Signature Market Estimates & Forecasts, 2017 - 2030 (USD Million)
- 9.6.4. South Arica
- 9.6.4.1. South Africa Digital Signature Market Estimates & Forecasts, 2017 - 2030 (USD Million)
Chapter 10. Competitive Landscape
- 10.1. Company Categorization
- 10.2. Company Market Positioning
- 10.3. Company Market Share Analysis
- 10.4. Company Heat Map Analysis
- 10.5. Strategy Mapping
- 10.5.1. Expansion
- 10.5.2. Mergers & Acquisition
- 10.5.3. Partnerships & Collaborations
- 10.5.4. New Product Launches
- 10.5.5. Research And Development
- 10.6. Company Profiles
- 10.6.1. Docusign, Inc.
- 10.6.1.1. Participant's Overview
- 10.6.1.2. Financial Performance
- 10.6.1.3. Product Benchmarking
- 10.6.1.4. Recent Developments
- 10.6.2. SIGNiX, Inc.
- 10.6.2.1. Participant's Overview
- 10.6.2.2. Financial Performance
- 10.6.2.3. Product Benchmarking
- 10.6.2.4. Recent Developments
- 10.6.3. Adobe Inc.
- 10.6.3.1. Participant's Overview
- 10.6.3.2. Financial Performance
- 10.6.3.3. Product Benchmarking
- 10.6.3.4. Recent Developments
- 10.6.4. OneSpan Inc.
- 10.6.4.1. Participant's Overview
- 10.6.4.2. Financial Performance
- 10.6.4.3. Product Benchmarking
- 10.6.4.4. Recent Developments
- 10.6.5. Globalsign
- 10.6.5.1. Participant's Overview
- 10.6.5.2. Financial Performance
- 10.6.5.3. Product Benchmarking
- 10.6.5.4. Recent Developments
- 10.6.6. IdenTrust, Inc.
- 10.6.6.1. Participant's Overview
- 10.6.6.2. Financial Performance
- 10.6.6.3. Product Benchmarking
- 10.6.6.4. Recent Developments
- 10.6.7. PrimeKey AB
- 10.6.7.1. Participant's Overview
- 10.6.7.2. Financial Performance
- 10.6.7.3. Product Benchmarking
- 10.6.7.4. Recent Developments
- 10.6.8. Visma
- 10.6.8.1. Participant's Overview
- 10.6.8.2. Financial Performance
- 10.6.8.3. Product Benchmarking
- 10.6.8.4. Recent Developments
- 10.6.9. Ascertia
- 10.6.9.1. Participant's Overview
- 10.6.9.2. Financial Performance
- 10.6.9.3. Product Benchmarking
- 10.6.9.4. Recent Developments
- 10.6.10. Topaz Systems, Inc.
- 10.6.10.1. Participant's Overview
- 10.6.10.2. Financial Performance
- 10.6.10.3. Product Benchmarking
- 10.6.10.4. Recent Developments
- 10.6.11. Entrust Corporation
- 10.6.11.1. Participant's Overview
- 10.6.11.2. Financial Performance
- 10.6.11.3. Product Benchmarking
- 10.6.11.4. Recent Developments