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Based on deployment type, Digital Signature Market is categorized into web-based, on-premise, and cloud deployment

Author : Ronak Bora | Published Date : 2019-03-25 

Based on deployment type, digital signature market is categorized into web-based, on-premise, and cloud deployment. The on-premise deployment model is anticipated to be major contributor to the industry growth, owing to its acceptance by many organizations across verticals. It offers high flexibility & control and can be easily regulated by clients. Cloud-based model is projected to hold largest market share during the forecast period as it encompasses data exchange between signing enabled cloud environment and the signer. It provides solutions to end-users and offers companies multi-channel signatures by reducing implementation and operational costs.

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Stringent regulations pertaining to ambiguities about electronic signatures is anticipated to pose significant challenge to digital signature market developments. Factors such as expiry of technology used in digital signature formulation and incompatibility among different techniques of digital signature generation are expected to hamper the progress.

The digital signature market segmented on the basis of deployment type, end-user and solution. By solution, the market is segmented as software, hardware and services. The software solution segment is forecast to witness substantial growth, owing to the reduced costs and less transaction time. The software solution sub segment is expected to contribute to market growth during the forecast period due to implementation across different industry verticals for greater end-user benefit and improved compliance.

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North America digital signature market is expected to witness tremendous growth opportunities due to growth in financial & legal services sector and stringent cyber laws. Latin America, in addition to developing countries including Philippines have the most unstandardized & weakest cyber laws and is predicted to witness the most sluggish growth during the forecast period. Europe in digital signature market is expected to witness significant growth rate, owing to the electronic signature regulations, that would enhance cross-country trading, recently introduced by European Electronic Messaging Association (EEMA). Adding to it in 1999, European parliament adopted 1999/93/EC Directive for electronic signatures. Growing need for reliable & secure transactions and authenticating user identity over digital network is anticipated to drive digital signature adoption in the region.

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The stakeholders of digital signature market are digital signature service providers, vendors, consultancy or advisory firms, product manufacturers & developers and system integrators & migration service providers. Key application providers include Secured Signing Limited, Kofax Limited, Adobe Systems, Inc., eSignLive, Gemalto, Inc., Entrust Datacard Corp., DocuSign, Signix, Ascertia, IdenTrust, Inc. and RPost Technologies.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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