Market Research Report
Digital Signatures Market - Growth, Trends, and Forecast (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||393723|
|Published||Content info||120 Pages
Delivery time: 2-3 business days
|Digital Signatures Market - Growth, Trends, and Forecast (2020 - 2025)|
|Published: January 1, 2020||Content info: 120 Pages||
The digital signatures market was valued at USD 3.72 billion in 2019 and is expected to reach a value of USD 6.93 billion by 2025, at a CAGR of 21.5%, during the forecast period 2020-2025. Enterprises are shifting from traditional signatures to digital signatures because it reduces the risk of legal disputes and provides stronger evidence.
Digital signatures are the most advanced and secure type of electronic signatures. One can use them to comply with the most demanding legal and regulatory requirements because they provide the highest levels of assurance about each signer's identity and the authenticity of the documents they sign. It has applications in Government, Judicial, Telecom, E-Commerce and BFSI.
BFSI Sector to Occupy the Largest Market Share
Europe to Witness Significant Growth
The market for digital signatures is becoming fragmented majorly due to the demand from companies regarding cost-effective solutions and government initiatives.
June 2019 - Alankit's subsidiary Verasys Technologies has entered into the electronic signature space to provide secure e-Sign service under the brand name Vsign.
April 2019 - eMudhra unveiled the new version of eSign services (version 3.0), that offer users an innovative way to sign documents in no time using cloud-based electronic signatures generated via offline e-KYC mechanism.
April 2019 - The ETSI technical committee on Electronic Signature Infrastructure (TC ESI) released a set of three Technical Specifications for cloud-based digital signatures supporting mobile devices. This new set of standards supports the creation of digital signatures in the cloud, facilitating digital signature deployment by avoiding the need for specialized user software and secure devices.