Allied Market Research published a report, titled, “Digital Signature Market by Component (Hardware, Software, and Services), Deployment Model (On-Premises and Cloud), and Industry Vertical (BFSI, Education, Human Resource, IT & Telecommunication, Government, Healthcare & Life Science, Real Estate, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030.” According to the report, the global digital signature market generated $3.56 billion in 2020, and is expected to reach $61.91 billion by 2030, witnessing a CAGR of 33.2% from 2021 to 2030.

Enhanced operational efficiency that leads to reduction in costs, high acceptance in internal processes or communication in enterprises, and need for data security & authentication with rise in cyber-attacks drive the growth of the global digital signature market. However, high cost of investment and variations of existing applications or systems hinder the market growth. On the other hand, innovation in technology, adoption of cloud-based solutions, and supportive legislations promoting the usage of digital signature create new opportunities in the coming years.

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Based on component, the software segment held the highest share in 2020, contributing to nearly half of the global digital signature market, and is expected to continue its lead position during the forecast period. Moreover, this segment is expected to witness the highest CAGR of 34.0% from 2021 to 2030. This is due to increase in demand for digital signature software across various sectors such as healthcare and BFSI. The research also analyzes the segments including hardware and services.

Based on region, North America accounted for the highest market share in 2020, holding nearly two-fifths of the global digital signature industry, and is expected to maintain its dominance in terms of revenue by 2030. This is due to increase in concerns related to the protection of critical IT infrastructure and sensitive data in recent years. However, Europe is projected to portray the fastest CAGR of 34.2% during the forecast period, owing to rapid adoption of cloud based and hybrid deployment methods and increased adoption in almost every public as well as private enterprises.

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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.


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