Digital signature is a mathematical technique, which is used to prove the authenticity of an electronic document or message such as e-mails, word file, PDF, and others. It is considered equivalent to handwritten signature, which implies that a message sent with a valid digital signature has similar attributes as that of handwritten signature and cannot be denied by the sender. Furthermore, digital signature is a part of electronic signature, which uses public key infrastructure (PKI) for data encryption and decryption. PKI is a set of policies, roles, and procedures that facilitates the authenticated and secured electronic transfer of data for various network activities such as internet banking, e-commerce, and other internal activities. In addition, cryptocurrency is a digital asset used as a medium of exchange to secure the transactions and avoid excessive creation of additional currency units. It reduces the time of operation & use of paper-ink as well as increases the operation competency of processes. It secures truncation from end-to-end, and offers data control, integrity, and transparency.
The global digital signature market is driven by factors such as technological advancements, increased penetration of smartphones, surge in online transactions, low costs of cloud computing platforms, and high penetration of internet worldwide. The other contributing factors include high acceptance of digital signatures in internal processes or communication in enterprises, enhanced operational efficiency, reduced turnaround time, and reduction in costs due to implementation of digital signatures, and growing need for data security and authentication on account of increase in cyber-attacks. However, resistance to adapt the existing applications or systems for the implementation of digital signatures and heavy investment hamper the market growth. Nevertheless, innovation in technology, increase in adoption of hybrid platforms, and new legislations promoting the use of digital signature are expected to supplement the market growth during the forecast period.
The global digital signature market is segmented on the basis of component, deployment type, industry vertical, and geography. Based on the type of component, the global digital signature industry is segmented into hardware, software, and services. Based on the deployment type, the market broadly categorized into on-premise and cloud-based. According to the industry vertical, digital signature industry is segmented into BFSI (banking, financial services, and insurance), education, government, healthcare & life science, IT & telecommunication, real estate, human resource, and others. The market is analyzed based on four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
KEY MARKET SEGMENTS
By deployment type
By industry vertical
KEY MARKET PLAYERS
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