Digital Signature Software Market Segmented By Software, Services Components in Consumer, Enterprises in BFSI, Defense, Government, Retail and Consumer Goods
According to the research study, the global Digital Signature Software Market, which was worth US$587.6 Million in 2016, will offer a lucrative opportunity of US$3.40 Billion by 2025 end, with an exponential CAGR of 22.40% during the period from 2017 to 2025.
The competitive landscape in the global digital signature software market is benchmarked by the rivalry between the prominent vendors, such as
states a new report by Persistence Market Research (PMR). With the increasing number of new entrants, the competition within this market likely to intensify further, states the research report.
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Increasing Trend of Going Paperless in Organizations to Boost Growth
“With the increasing concerns among consumers over the secrecy of a number of activities, especially legal proceedings, the demand for digital signature software is witnessing a remarkable growth across the world,” says an analyst at PMR. The convenience digital signature offers is the key factor behind its growing popularity. The cost factor also plays an important role in the rising uptake of digital signature software across the world, as digital signature significantly lower the usage of physical documentation, cutting the cost incurred in paper, printing, and shipping of the documents.
With an increasing number of organizations looking forward to go paperless in future, the global market for digital signature software is expected to rise tremendously over the next few years. However, the complex procedure of digital signature may hamper the market to some extent in the years to come, states the research report.
Software to Remain Key Component of Digital Signature Software Market
In this research study, the worldwide market for digital signature software has been analyzed on the basis of several important parameters, such as the component, end user, and industry. Software and services have surfaced as the key components of digital signature. Among the two, the software segment is likely to lead the global market in the near future. By end user, enterprises have emerged as the leading end user segment in this market and are anticipated to remain so over the period of the forecast.
BFSI, with maximum revenue, has been the leading industry in the global digital signature software market, thanks to it’s the increasing usage of digital signature in various departments, such as mortgages, loans, and several administration departments. Creating an incremental opportunity worth US$950.9 Million during the period of the forecast, this segment is likely to continue on the top in the years to come, notes the market study.
North America to Retain Dominance over Global Digital Signature Software Market
The report also presents a region-based assessment of the worldwide market for digital signature software. North America, with a whopping sum of US$193.2 Million, led the global market in 2016. Researchers expect the North America market for digital signature software to remain dominant over the next few years, thanks to early adoption of technology and the presence of an advanced IT infrastructure in this region, reports the research study.
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The review is based on a report by Persistence Market Research (PMR), titled “Digital Signature Software Market: Global Industry Analysis, Size, Share, Demand and Trends by 2025.”
The global digital signature software market is segmented into:
By Component
By End User
By Industry
By Region
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Jun 08, 2023
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