Global Digital Signature Market: Overview

The global quest to increase security across digital platforms has created humongous demand within the global digital signature market. Use of digital signature in the corporate sector has increased by leaps and bounds, and several entities use these signatures to verify the identity of users. Like manual signatures, use of digital signature is also meant for the purpose of authentication and approval. However, digital signature endows several features that can help in verifying user-identity with fool-proof evidence. The use of cryptographic nodes for digital signatures has added a layer of security to these signatures. Furthermore, digital signatures are non-repudiated, and a person cannot deny signing a document or node in the future. The stellar utility served by digital signatures is projected to be a launchpad for market growth.

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A syndicate report on the global digital signature market unravels several factors pertaining to market growth and maturity. The global digital signature market can be segmented on the basis of application, end-user, and region. Use of digital signature to provide access to secure applications on mobile devices has played a vital role in market growth. Furthermore, cloud-based digital signatures have lately emerged as an important element of the digital world.

Global Digital Signature Market: Notable Developments

The advent of digital transformation has paved way for several developments within the global digital signature market.

  • Advancements in blockchain technologies have created quite a buzz across the global digital signature market. The irreversible nature of digital signature, coupled with the advantages of blockchain technology, shall help in fostering greater security across digital nodes. Several entities are focusing towards developing improved blockchain technologies, and this trend shall aid the growth of the digital signature market.
  • Emergence of eIDAS that creates a standard for electronic signatures has played a key role in market growth. It is important to analyse and specify the prerequisites for approving digital signatures. Furthermore, the shift from manual signatures to digital signatures also calls for systems such as eIDAS that can regulate electronic signatures. The growth of the global digital signature market largely relies on developing robust equivalents for manual signatures.

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Global Digital Signature Market: Growth Drivers

  • Need for Security across Financial Sector

Use of digital signatures for financial transactions and high-security authentication has played a key role in market growth. Software distribution tools use digital signatures in order to ensure rightful distribution, and to prevent fraudsters from gaining access to the software. Furthermore, several banking apps and financial entities mandate the use of digital signatures to get access to financial portals. Therefore, the global digital signature market is set to grow at a stellar pace in the years to follow. Use of digital signatures in contract management software is an important dynamic of market growth and maturity.

  • Stellar Pace of Digital Transformation

Need for protecting key digital assets against forgery and tampering is the basis for using digital signatures. Electronic data is often protected with the help of digital signatures, and this is a key consideration from the perspective of market growth. Use of digital signature in the corporate and government sector has gathered swing across several regions. Growing use of smart cards has also helped in popularising digital signatures. Moreover, anti-forgery mechanism are extensively used across the private and public sector. The integrity of digital signatures in fostering security and safety of transactions has been at the forefront of market growth.

The global digital signature market can be segmented by:

Solution

  • Software
  • Hardware

Application

  • BFSI
  • Government & Defense
  • Legal
  • Real Estate
  • HR
  • Manufacturing & Engineering
  • Healthcare & Life Sciences

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By ajinkya