Report Overview

Global Digital Signature Market- Industry Trends & Forecast Report 2028

The global digital signature market was worth USD 4.6 billion in 2021 and is further projected to reach USD 25.3 billion by the year 2028, growing at the CAGR of 27.80% during the forecast period. The growth of the market is attributed to factors such as the rising acceptance rate of digital signatures around different domains and industries along with demand for higher data security and authentication. Furthermore, favorable government initiatives and incentives are also anticipated to drive the global digital signature market in the forecast period.

Digital Signature - Overview

According to the definition by Cybersecurity and Infrastructure Security Agency, “a digital signature-a type of electronic signature-is a mathematical algorithm routinely used to validate the authenticity and integrity of the message.” The said message can be in the form of an email, a credit card transaction, or a digital document. Digital signatures are a standard element of most cryptographic protocol suites. These are commonly used for financial transactions, software distribution, contract management software, etc.

Global Digital Signature Market Forecast and Trends

Growth Drivers

Rapid Globalization and Flourishing Cross-Border Trade

Rapid globalization and flourishing cross-border trade are among the crucial factors propelling the growth of the digital signature market. As more and more multinational corporations are emerging worldwide, the need for strong authentication tools is emerging for remote contracts and speeding up the entire process. For this purpose, a digital signature is proving to be very efficient since it boosts the entire process by authenticating ownership in real-time as well as meets the regulations laid by authorities such as eIDAS.

Rising Adoption of Cloud Infrastructure

The adoption of cloud infrastructure in the working environment is emerging with significant growth opportunities for the global digital signature market. The use of cloud computing gained significant traction post the COVID-19 pandemic as it allows remote working along with collaborative work environments and information sharing. Therefore, the use of digital signatures is being suggested to protect the sensitive documents that are sent on a network from unauthorized access since digital signatures authenticate the source of the message by establishing ownership of the message.

Restraints

Lack Of Stringent Data Protection and Cybersecurity Laws

The lack of stringent data protection laws especially in emerging economies and underdeveloped countries may act as the biggest restraining factor for the growth of the global digital signature market. Without these laws, digital signatures can be misused to sign a record without the knowledge of the owner if the private key is not secured properly. The increasing rate of cybersecurity attacks worldwide is also emerging as a major concern, which may hinder the market growth in the forecast period and may act as a huge restraining factor for the global digital signature market growth.

Impact of COVID-19 on Global Digital Signature Market

The COVID-19 pandemic outbreak negatively impacted the growth of various industries by halting their business operations. The restrictions on mobility and imposition of social distancing norms amid the COVID-19 pandemic significantly boosted the adoption of digital signatures as it ensured contactless transactions and ensured authenticity. As a result, the digital signature gained significant traction during the pandemic, especially among small and medium-sized businesses. Furthermore, growing cloud deployment also supported the growth of the digital signature market.

Global Digital Signature Market - By Component

Based on components, the global digital signature market is segmented into solutions and services. The solutions segment is further classified into software and hardware. The software segment holds the largest market share. The presence of various SaaS platforms in the market for digital signatures along with its ability to offer instant conversion of the electronic signatures acts as a major driving factor for the growth of the software segment. The rapid globalization and rising adoption of the paperless system are anticipated to drive the growth of the software segment in the forecast period as well.

Global Digital Signature Market - By Organization Size

Based on organization size, the global digital signature market is segmented into small & medium-sized enterprises and large enterprises. The large enterprise segment accounts for the highest share in the market. The rising adoption of advanced technologies including digital signatures and the implementation of a paperless system to boost their operational efficiency is significantly propelling the growth of the market. However, the small and medium-sized enterprises are anticipated to register the highest CAGR during the forecast period.

Global Digital Signature Market - Regional Insights

Geographically, the global digital signature market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. North America dominates the global digital signature market owing to the early adoption of advanced technologies among enterprises and stringent data protection laws in countries including the US and Canada. Furthermore, favorable government initiatives to boost the adoption of paperless systems are also flourishing the growth of the market. However, the Asia-Pacific region is projected to witness the highest growth rate during the forecast period.

Competitive Landscape

The leading market players of the global digital signature market are DocuSign, Inc., JN Projects, Inc., OneSpan, PandaDoc, RightSignature, SunGard Signix Inc., SignEasy, Silanis-eSignLive, airSlate Inc., SafeNet Inc., Adobe Sign, ePadLink, Wacom, Topaz Systems, HelloSign, Ascertia, DigiStamp Inc., GMO GlobalSign Inc., Lexmark International, Inc., and other prominent players. The digital signature market is fragmented with the presence of several industry participants and emerging startups. The companies constantly launch new and innovative solutions to boost their market presence. They also adopt market strategies such as partnerships, mergers, acquisitions, collaborations, etc., to gain a competitive edge.

Recent Development

• In February 2022, Smart Communications, an England-based information technology and services provider, and OneSpan, a US-based cybersecurity company, announced their partnership for the integration of OneSpan Sign into the Smart Communications platform.
• In February 2022, ZorroSign, Inc., a US-based provider of digital signature solutions using blockchain technology, announced a six-feature integrated technology package on its blockchain platform.

Scope of the Report

By Component

• Solutions
• Services

By Deployment Mode

• Cloud
• On-Premises

By Organization Size

• Small And Medium-Sized Enterprises
• Large Enterprises

By Vertical

• Banking, Financial Services and Insurance
• Government And Defense
• Healthcare And Life Sciences
• Legal
• Real Estate
• Education
• Others

By Region

• North America
• Europe
• Asia-Pacific (APAC)
• Latin America (LATAM)
• Middle East & Africa (MEA)

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumption & Limitation
3. Executive Summary
4. Global Digital Signature Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   3. Technological Landscape/Recent Development
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
5. Global Digital Signature Market Overview
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Component
         1. Solutions
            1. Software
            2. Hardware
         2. Services
            1. Professional services
            2. Managed services
      2. By Deployment Mode
         1. Cloud
         2. On-premises
      3. By Organization Size
         1. Large Enterprises
         2. Small and Medium Enterprises
      4. By Vertical
         1. BFSI
         2. IT and Telecom
         3. Government and Public Administration
         4. Healthcare
         5. Education
         6. Others
      5. By Region
         1. North America
         2. Europe
         3. Asia-Pacific
         4. Latin America
         5. Middle-East and Africa
6. North America Digital Signature Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Component
      2. By Deployment Mode
      3. By Organization Size
      4. By Vertical
      5. By Country
         1. United States
         2. Canada
7. Europe Digital Signature Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Component
      2. By Deployment Mode
      3. By Organization Size
      4. By Vertical
      5. By Country
         1. Germany
         2. United Kingdom
         3. Italy
         4. France
         5. Spain
         6. Rest of Europe
8. Asia Pacific Digital Signature Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Component
      2. By Deployment Mode
      3. By Organization Size
      4. By Vertical
      5. By Country
         1. China
         2. India
         3. Japan
         4. South Korea
         5. Rest of Asia Pacific
9. Latin America Digital Signature Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Component
      2. By Deployment Mode
      3. By Organization Size
      4. By Vertical
      5. By Country
         1. Brazil
         2. Mexico
         3. Rest of Latin America
10. Middle East & Africa Digital Signature Market
    1. Market Size & Forecast by Value, 2018-2028
       1. By Value (USD Million)
    2. Market Share & Forecast
       1. By Component
       2. By Deployment Mode
       3. By Organization Size
       4. By Vertical
       5.  By Country
          1. Saudi Arabia
          2. UAE
          3. South Africa
          4. Rest of Middle East & Africa
11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis, 2021
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Merger, Acquisition, Partnership.)
12. Impact of COVID-19 on Digital Signature Industry
13. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
    1. Adobe Inc.
    2. OneSpan
    3. Thales
    4. DocuSign, Inc.
    5. Ascertia
    6. Zoho
    7. Secured Signing
    8. Entrust Datacard
    9. DigiCert, Inc.
    10. IdenTrust
    11. GlobalSign
    12. Symtrax
    13. ComSignTrust
    14. Multicert
    15. AlphaTrust Corporation
    16. SunGard SIGNiX Inc.
    17. Notarius
    18. RNTrust
    19. Bit4id Ltd
    20. LAWtrust
    21. Other Prominent Players
14. Key Strategic Recommendations

List of Figures

 Figure 1        Global Digital Signature Market Segmentation

Figure 2        Global Digital Signature Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2021

Figure 4        Global Digital Signature Market Size, By Value (USD Million), 2018-2028

Figure 5        Global Digital Signature Market Share, By Component, By Value, 2018-2028

Figure 6        Global Digital Signature Market Share, By Deployment Mode, By Value, 2018-2028

Figure 7        Global Digital Signature Market Share, By Organization Size, By Value, 2018-2028

Figure 8        Global Digital Signature Market Share, By Vertical, By Value, 2018-2028

Figure 9        Global Digital Signature Market Share, By Region, By Value, 2018-2028

Figure 10       North America Digital Signature Market Size, By Value (USD Million), 2018-2028

Figure 11       North America Digital Signature Market Share, By Component, By Value, 2018-2028

Figure 12       North America Digital Signature Market Share, By Deployment Mode, By Value, 2018-2028

Figure 13       North America Digital Signature Market Share, By Organization Size, By Value, 2018-2028

Figure 14       North America Digital Signature Market Share, By Vertical, By Value, 2018-2028

Figure 15       North America Digital Signature Market Share, By Country, By Value, 2018-2028

Figure 16       Europe Digital Signature Market Size, By Value (USD Million), 2018-2028

Figure 17       Europe Digital Signature Market Share, By Component, By Value, 2018-2028

Figure 18       Europe Digital Signature Market Share, By Deployment Mode, By Value, 2018-2028

Figure 19       Europe Digital Signature Market Share, By Organization Size, By Value, 2018-2028

Figure 20       Europe Digital Signature Market Share, By Vertical, By Value, 2018-2028

Figure 21       Europe Digital Signature Market Share, By Country, By Value, 2018-2028

Figure 22       The Asia-Pacific Digital Signature Market Size, By Value (USD Million), 2018-2028

Figure 23       The Asia-Pacific Digital Signature Market Share, By Component, By Value, 2018-2028

Figure 24       The Asia-Pacific Digital Signature Market Share, By Deployment Mode, By Value, 2018-2028

Figure 25       The Asia-Pacific Digital Signature Market Share, By Organization Size, By Value, 2018-2028

Figure 26       The Asia-Pacific Digital Signature Market Share, By Vertical, By Value, 2018-2028

Figure 27       The Asia-Pacific Digital Signature Market Share, By Country, By Value, 2018-2028

Figure 28       Latin America Digital Signature Market Size, By Value (USD Million), 2018-2028

Figure 29       Latin America Digital Signature Market Share, By Component, By Value, 2018-2028

Figure 30       Latin America Digital Signature Market Share, By Deployment Mode, By Value, 2018-2028

Figure 31       Latin America Digital Signature Market Share, By Organization Size, By Value, 2018-2028

Figure 32       Latin America Digital Signature Market Share, By Vertical, By Value, 2018-2028

Figure 33       Latin America Digital Signature Market Share, By Country, By Value, 2018-2028

Figure 34       The Middle East & Africa Digital Signature Market Size, By Value (USD Million), 2018-2028

Figure 35       The Middle East & Africa Digital Signature Market Share, By Component, By Value, 2018-2028

Figure 36       The Middle East & Africa Digital Signature Market Share, By Deployment Mode, By Value, 2018-2028

Figure 37       The Middle East & Africa Digital Signature Market Share, By Organization Size, By Value, 2018-2028

Figure 38       The Middle East & Africa Digital Signature Market Share, By Vertical, By Value, 2018-2028

Figure 39       The Middle East & Africa Digital Signature Market Share, By Country, By Value, 2018-2028

List of Tables

Table 1         Global Digital Signature Market Size, By Component, By Value, 2018-2028                                  

Table 2         Global Digital Signature Market Size, By Deployment Mode, By Value, 2018-2028                                   

Table 3         Global Digital Signature Market Size, By Organization Size, By Value, 2018-2028                                   

Table 4         Global Digital Signature Market Size, By Vertical, By Value, 2018-2028                              

Table 5         Global Digital Signature Market Size, By Region, By Value, 2018-2028                               

Table 6         North America Digital Signature Market Size, By Component, By Value, 2018-2028                                 

Table 7         North America Digital Signature Market Size, By Deployment Mode, By Value, 2018-2028                                     

Table 8         North America Digital Signature Market Size, By Organization Size, By Value, 2018-2028                                     

Table 9         North America Digital Signature Market Size, By Vertical, By Value, 2018-2028                                      

Table 10        North America Digital Signature Market Size, By Country, By Value, 2018-2028                                     

Table 11        Europe Digital Signature Market Size, By Component, By Value, 2018-2028                                 

Table 12        Europe Digital Signature Market Size, By Deployment Mode, By Value, 2018-2028                                  

Table 13        Europe Digital Signature Market Size, By Organization Size, By Value, 2018-2028                                  

Table 14        Europe Digital Signature Market Size, By Vertical, By Value, 2018-2028                                      

Table 15        Europe Digital Signature Market Size, By Country, By Value, 2018-2028                                     

Table 16     The Asia-Pacific Digital Signature Market Size, By Component, By Value, 2018-2028                               

Table 17 The Asia-Pacific Digital Signature Market Size, By Deployment Mode, By Value, 2018-2028                                     

Table 18 The Asia-Pacific Digital Signature Market Size, By Organization Size, By Value, 2018-2028                                     

Table 19    The Asia-Pacific Digital Signature Market Size, By Vertical, By Value, 2018-2028                                    

Table 20    The Asia-Pacific Digital Signature Market Size, By Country, By Value, 2018-2028                                    

Table 21     Latin America Digital Signature Market Size, By Component, By Value, 2018-2028                                  

Table 22        Latin America Digital Signature Market Size, By Deployment Mode, By Value, 2018-2028                                     

Table 23        Latin America Digital Signature Market Size, By Organization Size, By Value, 2018-2028                                     

Table 24        Latin America Digital Signature Market Size, By Vertical, By Value, 2018-2028                             

Table 25        Latin America Digital Signature Market Size, By Country, By Value, 2018-2028                                      

Table 26        The Middle East & Africa Digital Signature Market Size, By Component, By Value, 2018-2028                                     

Table 27        The Middle East & Africa Digital Signature Market Size, By Deployment Mode, By Value, 2018-2028                                 

Table 28        The Middle East & Africa Digital Signature Market Size, By Organization Size, By Value, 2018-2028                                 

Table 29        The Middle East & Africa Digital Signature Market Size, By Vertical, By Value, 2018-2028                                     

Table 30        The Middle East & Africa Digital Signature Market Size, By Country, By Value, 2018-2028                                     

Table 31        Adobe Inc. Company Overview                                  

Table 32        Adobe Inc. Financial Overview                                   

Table 33        OneSpan Company Overview                                     

Table 34        OneSpan Financial Overview                            

Table 35        DocuSign, Inc. Company Overview                             

Table 36        DocuSign, Inc. Financial Overview                              

Table 37        Ascertia Company Overview                             

Table 38        Ascertia Financial Overview                              

Table 39        Secured Signing Company Overview                                     

Table 40        Secured Signing Financial Overview                            

Table 41        DigiCert, Inc. Company Overview                               

Table 42        DigiCert, Inc. Financial Overview                                

Table 43        IdenTrust Company Overview                                    

Table 44        IdenTrust Financial Overview                                     

Table 45        GlobalSign Company Overview                                   

Table 46        GlobalSign Financial Overview                                   

Table 47        Symtrax Company Overview                            

Table 48        Symtrax Financial Overview                             

Table 49        ComSignTrust Company Overview                              

Table 50        ComSignTrust Financial Overview                               

Table 51        Multicert Company Overview                                     

Table 52        Multicert Financial Overview                             

Table 53        AlphaTrust Corporation Company Overview                                     

Table 54        AlphaTrust Corporation Financial Overview                            

Table 55        SunGard SIGNiX Inc. Company Overview                              

Table 56        SunGard SIGNiX Inc. Financial Overview                               

Table 57        Notarius Company Overview                            

Table 58        Notarius Financial Overview                             

Table 59        RNTrust Company Overview                             

Table 60        RNTrust Financial Overview