Digital Signature Market to be Worth $38.16 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, June 7, 2023 /PRNewswire/ -- The global digital signature market size is anticipated to reach USD 38.16 billion by 2030, growing at a CAGR of 37.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing internet and smartphone penetration across the globe is expected to fuel digital signature market growth over the forecast period. For instance, according to DataReportal, an online reference library, a total of 5.18 billion people worldwide were using the internet at the beginning of Q2 2023.

Key Industry Insights & Findings from the report:

• The solutions segment dominated the digital signature market in 2022 and is expected to retain its dominance over the forecast period. The segments growth can be attributed to the increase in adoption of digital signature by various businesses and government institutions.
• The Qualified Electronic Signatures (QES) segment is projected to witness the fastest growth over the forecast period. The QES includes a qualified digital certificate that confirms face-to-face identity verification, thereby increasing the trustworthiness of the digital signature.
• The cloud segment is expected to grow fastest over the forecast period. The segment's growth can be attributed to the rising investments in cloud platforms by several businesses across the globe.
• The businesses segment dominated the digital signature market in 2022. The segment's growth can be attributed to the advantages provided by digital signature solutions to the businesses, such as cost savings and enhanced customer loyalty.
• The BFSI segment dominated the market in 2022. The digital signature enables banking customers to open any bank account remotely by signing a document electronically. Hence, such use cases of digital signature across BFSI are anticipated to fuel the segment's growth.
• The North America dominated the digital signature market in 2022. The regional dominance can be attributed to the region being one of the early adopters of technology.

Read full market research report for more latest industry insights, "Digital Signature Market Size, Share & Trends Analysis Report By Component, By Level, By Deployment, By End-user, By Industry Vertical, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Digital Signature Market Growth & Trends

The increasing partnerships between businesses and digital signature companies to implement digital signatures bode well for the growth of the digital signature market. For instance, in March 2023, BlackBerry Limited, a software company, entered into a partnership with Adobe, a computer software Company. This partnership aimed to deliver secure forms with electronic signatures over mobile devices.

Digital signature offers various advantages such as time-saving and cost savings to the business and individual users, enabling them to sign documents electronically from remote locations. Furthermore, the implementation and modernization of laws by various governments across different jurisdictions for regulating the digital signature market are expected to boost trust among the users and eventually fuel the market's growth. Additionally, digital transformation across industries will help the digital signature market grow over the forecast period.

The COVID-19 pandemic had an immediate positive impact on the digital signature market. The rising adoption of digital signature solutions during the COVID-19 pandemic attracted venture capital firms to invest in various digital signature software providers. For instance, in June 2021, Yousign, an eSignature solution for SMBs, announced that it raised USD 36.6 million through a Series A funding round led by Lead Edge Capital Management, LLC. With the funds raised company aimed at reaching around 50,000 European SMBs by 2024.

Digital Signature Market Segmentation

Grand View Research has segmented the global digital signature market on the basis of component, level, deployment, end user, industry vertical, and region:

Digital Signature Market - Component Outlook (Revenue, USD Billion, 2017 - 2030)

• Solutions
• Services

Digital Signature Market - Level Outlook (Revenue, USD Billion, 2017 - 2030)

• Advanced Electronic Signatures (AES)
• Qualified Electronic Signatures (QES)

Digital Signature Market - Deployment Outlook (Revenue, USD Billion, 2017 - 2030)

• Cloud
• On-premise

Digital Signature Market - End-user Outlook (Revenue, USD Billion, 2017 - 2030)

• Individuals
• Businesses
• Organizations

Digital Signature Market - Industry Vertical Outlook (Revenue, USD Billion, 2017 - 2030)

• BFSI
• Health Care & Life Science
• IT & Telecom
• Government
• Retail
• Others

Digital Signature Market - Regional Outlook (Revenue, USD Billion, 2017 - 2030)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• Spain
• France
• Italy
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• Middle East & Africa
• UAE
• The Kingdom of Saudi Arabia (KSA)
• South Africa

List of Key Players in the Digital Signature Market

• DocuSign, Inc.
• SIGNiX, Inc.
• Adobe
• OneSpan
• GlobalSign
• IdenTrust, Inc.
• PrimeKey AB
• Visma
• Ascertia
• Topaz Systems, Inc.
• Entrust Corporation

Check out more market research studies published by Grand View Research:

• Digital Identity Solutions Market - The global digital identity solutions market size is expected to reach USD 98,638.6 million by 2030 and is expected to expand at 17.2% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. The upsurge in identity-related fraudulent activities, data breaches, and the requirement to abide by various upcoming regulatory frameworks are expected to drive the growth of the market.
• Digital Transformation Market - The global digital transformation market size is expected to reach USD 4,617.78 billion by 2030, according to the new reports of Grand View Research. The market is expected to register a CAGR of 26.7% from 2023 to 2030. Digital transformation helps organizations improve their customer experience, customer retention ratios, and brand reputation through the software's implementation. This software help organization in training and educating their internal teams about numerous aspects of their organizations. Furthermore, digitally transformed organizations can become accustomed to the growing technological landscape and confront sudden industry shifts. Moreover, a substantial part of the digital transformation market growth is expected to be driven by companies investing in cloud platforms, mobility, and big data technologies to build Digital Experience Platforms (DXP).
• Digital Experience Platform Market - The global digital experience platform market size is estimated to reach USD 30.41 billion by 2030, growing at a CAGR of 11.9% over the forecast period, according to a new report by Grand View Research, Inc. Incumbents of several industries and verticals have started using a customer-centric approach to deal with real-time customer data. Digital experience platforms (DXP) can help these industries in achieving a holistic view of activities, customer interactions, and data across multiple applications and touchpoints.

Browse through Grand View Research's  Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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