ALBANY, New York, May 29, 2019 /PRNewswire/ -- The global digital signature market features a fragmented vendor landscape, predicts Transparency Market Research (TMR). Adobe Systems, Inc., Gemalto N.V., DocuSign Inc., Entrust Datacard Corporation, SIGNiX, Inc., one span (Esignlive) are some of the key players in the global digital signature market. These key players are increasingly focusing on research & development (R&D) for enhancing the products. Continuously evolving technologies are offering scope for key players to explore and experiment with newer technologies, which are benefiting them.
On the geographical forefront, the digital signature market is dominated by Europe and is estimated to exhibit growth at a CAGR of 28.2% over the forecast period from 2018 to 2026. Presence of the developed economies across Western Europe including the U.K., France, and Germany are driving growth of the market in the region. Rapidly improving infrastructure across these countries coupled with rising penetration of superior Internet in the countries is boosting the market growth.
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Rising Penetration of Internet Propels Market Growth
However, Asia Pacific digital signature market is expected to witness robust growth due to numerous initiatives by the governments to bridge the gap in the region. Substantial increase in the number of Internet-connected users along with favorable development in the region has boosted the digital signature market. In Asia Pacific, the proliferation of the internet and smart devices including smartphones and tablets coupled with the e-commerce sector is booming the demand for the digital signature for several bank transactions. Additionally, the increasing use of digital signature solutions are likely to organize the workflow and especially the BFSI and retrial industries.
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Presence of Important Regulations Boosts Digital Signatures Market
Nonetheless, the emergence of cloud-based digital signatures, which expands its applications across numerous systems, and processes of workflow is augmenting growth of the global digital signature market. Additionally, the proliferation of tablets and other connected devices globally is expected to offer the most lucrative opportunities for growth in the coming years.
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Furthermore, the global digital signature market is expected to witness high growth globally and especially across Europe. The digital signature market in Europe is witnessing growth due to government initiatives for creating the most lucrative opportunities for organizations for widening business across the developing countries. The presence of the regulations such as 'Electronic Identification and Trust Services for Electronic Transactions in the Internal Market' (eIDAS) implemented by the Council of the European Union in July 2016 is primarily driving growth of the global digital signature market. Additionally, these regulations encourage the electronic documents, signatures, and identification through European Union, which is propelling growth of the global digital signature market.
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This information is encompassed in the report by TMR, titled, "Digital Signature Market (Deployment - On premise, Cloud; Industry Vertical - BFSI, Real Estate, Education, Government, Health Care, Retail, Transportation, Legal, Others (IT and Telecom, Non-profit)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026."
For the study, the global digital signature market has been segmented as follows:
- Real Estate
- Health Care
- Other (IT & Telecom, Non-profit, etc.)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
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