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PUBLISHER: IMARC | PRODUCT CODE: 1378777

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PUBLISHER: IMARC | PRODUCT CODE: 1378777

Signature Verification Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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Abstract

The global signature verification market size reached US$ 2.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.6 Billion by 2028, exhibiting a growth rate (CAGR) of 22.0% during 2022-2028.

Signature verification refers to an identity authentication technique that auto validates signatures. It helps save time and prevent human errors, thereby minimizing fraud risks in the authentication process. It also reduces operational costs, authenticates the legal identity of the person, and facilitates the workflow of organizations. As a result, the signature verification technique is extensively used in the government, healthcare, education, and banking, financial services and insurance (BFSI) industries worldwide.

Signature Verification Market Trends:

Rising instances of identity duplication and data theft in various industry verticals represent one of the key factors positively influencing the market. In addition, the increasing adoption of advanced authentication solutions to validate the identification of their customers is strengthening the growth of the market. Apart from this, the increasing transaction frauds and significant data stealing cases reported by healthcare providers, healthcare clearinghouses, and insurance providers are catalyzing the demand for signature verification solutions to prevent imperative information loss. Along with this, the healthcare industry is focusing on promoting e-signatures to prevent misplacement of records or equipment while eliminating possible errors. Additionally, several organizations are increasingly investing in upgrading their data verification processes by adopting dynamic signature verification (DSV). It helps compare signatures as per numerous parameters, such as acceleration, velocity, pressure, and geometrical shape of the biometric sample. Furthermore, the integration of artificial intelligence (AI) technology that enhances the capability of identifying data theft in an efficient manner is contributing to market growth. Moreover, the emerging trend of remote working policy and the widespread adoption of electronic signing across government and private organizations are catalyzing the demand for signature verification software to authenticate business transactions within legal frameworks.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global signature verification market report, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on product type, technology, and end-use industry.

Breakup by Product Type:

Hardware

Software

Signature verification software is the most widely used product type as it verifies signatures on print documents and online using mobile devices for various applications.

Breakup by Technology:

Static Signature Verification

Dynamic Signature Verification

The static signature verification technology represents the largest market segment as it is extensively used to validate cheques, credit cards, contracts, and historical documents.

Breakup by End Use Industry:

Education

Government

BFSI

Healthcare

Transport/Logistics

Defense and Security

Others

BFSI currently dominates the market on account of increasing incidences of scams and data theft in the industry.

Breakup by Region:

North America

United States

Canada

Asia Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

North America exhibits a clear dominance in the market due to the growing adoption of signature verification by different organizations in the region. Moreover, multiple initiatives undertaken by the US Government to promote electronic signature verification is facilitating market growth.

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being 01 Systems, Ascertia Ltd., Biometric Signature ID, Certify Global Inc., Cyber Signs Ltd., DataVision Software Solutions Pvt. Ltd., Dynasign Corporation, Entrust Datacard Corporation, Hitachi Ltd., iSign Solutions Inc., J.C. Lads Corporation, Odyssey Technologies Limited, Scriptel Corporation and Sutisoft Inc.

Key Questions Answered in This Report

  • 1. What was the size of the global signature verification market in 2022?
  • 2. What is the expected growth rate of the global signature verification market during 2023-2028?
  • 3. What has been the impact of COVID-19 on the global signature verification market?
  • 4. What are the key factors driving the global signature verification market?
  • 5. What is the breakup of the global signature verification market based on the product type?
  • 6. What is the breakup of the global signature verification market based on the technology?
  • 7. What is the breakup of the global signature verification market based on end use industry?
  • 8. What are the key regions in the global signature verification market?
  • 9. Who are the key players/companies in the global signature verification market?
Product Code: SR112023A2594

Table of Contents

1 Preface

2 Scope and Methodology

  • 2.1 Objectives of the Study
  • 2.2 Stakeholders
  • 2.3 Data Sources
    • 2.3.1 Primary Sources
    • 2.3.2 Secondary Sources
  • 2.4 Market Estimation
    • 2.4.1 Bottom-Up Approach
    • 2.4.2 Top-Down Approach
  • 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

  • 4.1 Overview
  • 4.2 Key Industry Trends

5 Global Signature Verification Market

  • 5.1 Market Overview
  • 5.2 Market Performance
  • 5.3 Impact of COVID-19
  • 5.4 Market Forecast

6 Market Breakup by Product Type

  • 6.1 Hardware
    • 6.1.1 Market Trends
    • 6.1.2 Market Forecast
  • 6.2 Software
    • 6.2.1 Market Trends
    • 6.2.2 Market Forecast

7 Market Breakup by Technology

  • 7.1 Static Signature Verification
    • 7.1.1 Market Trends
    • 7.1.2 Market Forecast
  • 7.2 Dynamic Signature Verification
    • 7.2.1 Market Trends
    • 7.2.2 Market Forecast

8 Market Breakup by End Use Industry

  • 8.1 Education
    • 8.1.1 Market Trends
    • 8.1.2 Market Forecast
  • 8.2 Government
    • 8.2.1 Market Trends
    • 8.2.2 Market Forecast
  • 8.3 BFSI
    • 8.3.1 Market Trends
    • 8.3.2 Market Forecast
  • 8.4 Healthcare
    • 8.4.1 Market Trends
    • 8.4.2 Market Forecast
  • 8.5 Transport/Logistics
    • 8.5.1 Market Trends
    • 8.5.2 Market Forecast
  • 8.6 Defense and Security
    • 8.6.1 Market Trends
    • 8.6.2 Market Forecast
  • 8.7 Others
    • 8.7.1 Market Trends
    • 8.7.2 Market Forecast

9 Market Breakup by Region

  • 9.1 North America
    • 9.1.1 United States
      • 9.1.1.1 Market Trends
      • 9.1.1.2 Market Forecast
    • 9.1.2 Canada
      • 9.1.2.1 Market Trends
      • 9.1.2.2 Market Forecast
  • 9.2 Asia Pacific
    • 9.2.1 China
      • 9.2.1.1 Market Trends
      • 9.2.1.2 Market Forecast
    • 9.2.2 Japan
      • 9.2.2.1 Market Trends
      • 9.2.2.2 Market Forecast
    • 9.2.3 India
      • 9.2.3.1 Market Trends
      • 9.2.3.2 Market Forecast
    • 9.2.4 South Korea
      • 9.2.4.1 Market Trends
      • 9.2.4.2 Market Forecast
    • 9.2.5 Australia
      • 9.2.5.1 Market Trends
      • 9.2.5.2 Market Forecast
    • 9.2.6 Indonesia
      • 9.2.6.1 Market Trends
      • 9.2.6.2 Market Forecast
    • 9.2.7 Others
      • 9.2.7.1 Market Trends
      • 9.2.7.2 Market Forecast
  • 9.3 Europe
    • 9.3.1 Germany
      • 9.3.1.1 Market Trends
      • 9.3.1.2 Market Forecast
    • 9.3.2 France
      • 9.3.2.1 Market Trends
      • 9.3.2.2 Market Forecast
    • 9.3.3 United Kingdom
      • 9.3.3.1 Market Trends
      • 9.3.3.2 Market Forecast
    • 9.3.4 Italy
      • 9.3.4.1 Market Trends
      • 9.3.4.2 Market Forecast
    • 9.3.5 Spain
      • 9.3.5.1 Market Trends
      • 9.3.5.2 Market Forecast
    • 9.3.6 Russia
      • 9.3.6.1 Market Trends
      • 9.3.6.2 Market Forecast
    • 9.3.7 Others
      • 9.3.7.1 Market Trends
      • 9.3.7.2 Market Forecast
  • 9.4 Latin America
    • 9.4.1 Brazil
      • 9.4.1.1 Market Trends
      • 9.4.1.2 Market Forecast
    • 9.4.2 Mexico
      • 9.4.2.1 Market Trends
      • 9.4.2.2 Market Forecast
    • 9.4.3 Others
      • 9.4.3.1 Market Trends
      • 9.4.3.2 Market Forecast
  • 9.5 Middle East and Africa
    • 9.5.1 Market Trends
    • 9.5.2 Market Breakup by Country
    • 9.5.3 Market Forecast

10 SWOT Analysis

  • 10.1 Overview
  • 10.2 Strengths
  • 10.3 Weaknesses
  • 10.4 Opportunities
  • 10.5 Threats

11 Value Chain Analysis

12 Porters Five Forces Analysis

  • 12.1 Overview
  • 12.2 Bargaining Power of Buyers
  • 12.3 Bargaining Power of Suppliers
  • 12.4 Degree of Competition
  • 12.5 Threat of New Entrants
  • 12.6 Threat of Substitutes

13 Competitive Landscape

  • 13.1 Market Structure
  • 13.2 Key Players
  • 13.3 Profiles of Key Players
    • 13.3.1 01 Systems
      • 13.3.1.1 Company Overview
      • 13.3.1.2 Product Portfolio
    • 13.3.2 Ascertia Ltd.
      • 13.3.2.1 Company Overview
      • 13.3.2.2 Product Portfolio
    • 13.3.3 Biometric Signature ID
      • 13.3.3.1 Company Overview
      • 13.3.3.2 Product Portfolio
    • 13.3.4 Certify Global Inc.
      • 13.3.4.1 Company Overview
      • 13.3.4.2 Product Portfolio
    • 13.3.5 Cyber Signs Ltd
      • 13.3.5.1 Company Overview
      • 13.3.5.2 Product Portfolio
    • 13.3.6 DataVision Software Solutions Pvt. Ltd.
      • 13.3.6.1 Company Overview
      • 13.3.6.2 Product Portfolio
    • 13.3.7 Dynasign Corporation
      • 13.3.7.1 Company Overview
      • 13.3.7.2 Product Portfolio
    • 13.3.8 Entrust Datacard Corporation
      • 13.3.8.1 Company Overview
      • 13.3.8.2 Product Portfolio
    • 13.3.9 Hitachi Ltd.
      • 13.3.9.1 Company Overview
      • 13.3.9.2 Product Portfolio
      • 13.3.9.3 Financials
      • 13.3.9.4 SWOT Analysis
    • 13.3.10 iSign Solutions Inc.
      • 13.3.10.1 Company Overview
      • 13.3.10.2 Product Portfolio
      • 13.3.10.3 Financials
    • 13.3.11 J.C. Lads Corporation
      • 13.3.11.1 Company Overview
      • 13.3.11.2 Product Portfolio
    • 13.3.12 Odyssey Technologies Limited
      • 13.3.12.1 Company Overview
      • 13.3.12.2 Product Portfolio
      • 13.3.12.3 Financials
    • 13.3.13 Scriptel Corporation
      • 13.3.13.1 Company Overview
      • 13.3.13.2 Product Portfolio
    • 13.3.14 Sutisoft Inc.
      • 13.3.14.1 Company Overview
      • 13.3.14.2 Product Portfolio
Product Code: SR112023A2594

List of Figures

  • Figure 1: Global: Signature Verification Market: Major Drivers and Challenges
  • Figure 2: Global: Signature Verification Market: Sales Value (in Billion US$), 2017-2022
  • Figure 3: Global: Signature Verification Market Forecast: Sales Value (in Billion US$), 2023-2028
  • Figure 4: Global: Signature Verification Market: Breakup by Product Type (in %), 2022
  • Figure 5: Global: Signature Verification Market: Breakup by Technology (in %), 2022
  • Figure 6: Global: Signature Verification Market: Breakup by End Use Industry (in %), 2022
  • Figure 7: Global: Signature Verification Market: Breakup by Region (in %), 2022
  • Figure 8: Global: Signature Verification (Hardware) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 9: Global: Signature Verification (Hardware) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 10: Global: Signature Verification (Software) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 11: Global: Signature Verification (Software) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 12: Global: Signature Verification (Static Signature Verification) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 13: Global: Signature Verification (Static Signature Verification) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 14: Global: Signature Verification (Dynamic Signature Verification) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 15: Global: Signature Verification (Dynamic Signature Verification) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 16: Global: Signature Verification (Education) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 17: Global: Signature Verification (Education) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 18: Global: Signature Verification (Government) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 19: Global: Signature Verification (Government) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 20: Global: Signature Verification (BFSI) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 21: Global: Signature Verification (BFSI) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 22: Global: Signature Verification (Healthcare) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 23: Global: Signature Verification (Healthcare) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 24: Global: Signature Verification (Transport/Logistics) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 25: Global: Signature Verification (Transport/Logistics) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 26: Global: Signature Verification (Defense and Security) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 27: Global: Signature Verification (Defense and Security) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 28: Global: Signature Verification (Other End Use Industries) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 29: Global: Signature Verification (Other End Use Industries) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 30: North America: Signature Verification Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 31: North America: Signature Verification Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 32: United States: Signature Verification Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 33: United States: Signature Verification Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 34: Canada: Signature Verification Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 35: Canada: Signature Verification Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 36: Asia Pacific: Signature Verification Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 37: Asia Pacific: Signature Verification Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 38: China: Signature Verification Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 39: China: Signature Verification Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 40: Japan: Signature Verification Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 41: Japan: Signature Verification Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 42: India: Signature Verification Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 43: India: Signature Verification Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 44: South Korea: Signature Verification Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 45: South Korea: Signature Verification Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 46: Australia: Signature Verification Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 47: Australia: Signature Verification Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 48: Indonesia: Signature Verification Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 49: Indonesia: Signature Verification Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 50: Others: Signature Verification Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 51: Others: Signature Verification Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 52: Europe: Signature Verification Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 53: Europe: Signature Verification Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 54: Germany: Signature Verification Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 55: Germany: Signature Verification Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 56: France: Signature Verification Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 57: France: Signature Verification Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 58: United Kingdom: Signature Verification Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 59: United Kingdom: Signature Verification Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 60: Italy: Signature Verification Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 61: Italy: Signature Verification Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 62: Spain: Signature Verification Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 63: Spain: Signature Verification Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 64: Russia: Signature Verification Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 65: Russia: Signature Verification Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 66: Others: Signature Verification Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 67: Others: Signature Verification Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 68: Latin America: Signature Verification Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 69: Latin America: Signature Verification Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 70: Brazil: Signature Verification Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 71: Brazil: Signature Verification Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 72: Mexico: Signature Verification Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 73: Mexico: Signature Verification Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 74: Others: Signature Verification Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 75: Others: Signature Verification Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 76: Middle East and Africa: Signature Verification Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 77: Middle East and Africa: Signature Verification Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 78: Global: Signature Verification Industry: SWOT Analysis
  • Figure 79: Global: Signature Verification Industry: Value Chain Analysis
  • Figure 80: Global: Signature Verification Industry: Porter's Five Forces Analysis

List of Tables

  • Table 1: Global: Signature Verification Market: Key Industry Highlights, 2022 and 2028
  • Table 2: Global: Signature Verification Market Forecast: Breakup by Product Type (in Million US$), 2023-2028
  • Table 3: Global: Signature Verification Market Forecast: Breakup by Technology (in Million US$), 2023-2028
  • Table 4: Global: Signature Verification Market Forecast: Breakup by End Use Industry (in Million US$), 2023-2028
  • Table 5: Global: Signature Verification Market Forecast: Breakup by Region (in Million US$), 2023-2028
  • Table 6: Global: Signature Verification Market: Competitive Structure
  • Table 7: Global: Signature Verification Market: Key Players
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