The global Digital signature market size in 2021 stood at USD 3,200 Million and is set to reach USD 48,400 Million by 2030, growing at a CAGR of 35.4%
The digital signature market size is expected to grow significantly in the coming years due to digitization, the increasing digital payments and rising remote working environment.
There are also factors such as increasing demand for secure and efficient electronic transactions, responsible for the digital signature market share.
Digital signatures are widely used in industries ranging from healthcare, government, banking and finance, and legal and many others.
North America stands out as the region with the largest digital signatures market share followed by Europe. With Asia-Pacific having the fastest CAGR for digital signatures market.
Key players in the market for digital signature include Adobe Systems Incorporated, DocuSign, Inc., eSignature, OneSpan, Inc., SignEasy, and Zoho Corporation Pvt. Ltd. etc.
The market for digital signature has been seeing the emergence of trending technology such as blockchain and biometric authentication.
The digital signature market is poised for significant growth over the next decade, with a compound annual growth rate (CAGR) of 35.4% expected.
The market size is expected to reach USD 48.4 billion by 2030, driven by the increasing adoption of digital signatures across various industries, including banking, financial services, and insurance (BFSI), government, healthcare, and legal.
Digital signatures offer several advantages over traditional paper-based signatures, including increased security, improved efficiency, and reduced costs.
In the BFSI sector, the use of digital signatures has increased significantly in recent years due to the growing need for secure online transactions and the need to comply with regulatory requirements.
The government sector is also adopting digital signatures as a secure and efficient method of conducting online transactions, such as tax submissions and procurement processes.
The healthcare sector is also witnessing a growing demand for digital signatures due to the need for secure and efficient electronic medical records and the increasing trend of telemedicine.
The legal sector is also adopting digital signatures for secure and efficient contract management, reducing the need for manual paper-based processes.
Balusen Technologies has tackled multiple BFSI projects, including:
– Implementing a digital signature solution to streamline the loan application process and enhance customer experience.
– Automating the insurance claims process to improve customer satisfaction.
– Ensuring regulatory compliance by implementing digital signatures to secure online transactions and maintain customer trust.