Digital Signature Market to Expand at a Staggering 28.77% CAGR, Rising Acceptance of Digital Signature Technology for Online Communication to Drive the Market Fortune Business Insights
PUNE, India, Aug. 8, 2019 /PRNewswire/ -- The global Digital Signature Market is anticipated to exhibit a remarkable CAGR of 28.77% between 2018 and 2026. Fortune Business Insights in a report, titled "DIGITAL SIGNATURE MARKET, SIZE, SHARE AND GLOBAL TREND BY COMPONENT (SOFTWARE, HARDWARE, SERVICES), BY DEPLOYMENT (ON-PREMISES, CLOUD), BY ORGANIZATION SIZE (SMEs, LARGE ENTERPRISES), BY END-USER (BFSI, IT AND TELECOMMUNICATION, GOVERNMENT, HEALTH CARE AND LIFE SCIENCE, EDUCATION, RETAIL, REAL ESTATE, AND OTHERS) AND GEOGRAPHY FORECAST TILL 2026." published the above information. Analysts in the report say that the growing need for document authentication and online security is driving the Digital Signature Market growth. As per the report, the global market was valued at US$ 879.6 Mn in 2018 and is projected to reach US$ 6,128.0 Mn by 2026. Governments across the world are increasingly investing in electronic documents to ensure seamless workflow and improved security. Against this backdrop, the Digital Signature Market share is likely to upsurge over the projected horizon.
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With the growing advances in e-business, there is a rising concern over authentication and online security. While several advanced technologies are emerging to support internet authentication, replacing hand-written signatures with digital ones is the need of the hour in businesses. The digital signature solution provides several advantages which include lesser costs, reduced turnover time, enhanced efficiency, and improved security. Furthermore, it enhances scalability, transparency, customer satisfaction, and data integrity, which as a result, propels the Digital Signature Market growth.
Presence of Powerful Players in the U.S. to Drive the Market in North America
In 2018, the market in North America was leading with a value of US$ 297.3Mn and it will continue to lead through the forecast years. The growth witnessed is ascribable to the presence of well-established IT infrastructure adopting digital signature technology. In addition to this, the presence of big giants in the U.S. is creating ample growth opportunities for the market. These giants are continuously focusing on the implementation of digital signature systems across industries such as BFSI, government, healthcare, life sciences, and education.