According to a research report “Digital Signature Market by Component (Solutions and Services), Solution (Software and Hardware), Deployment Mode, Organization Size, Vertical (BFSI, Government, Healthcare and Life Sciences, Legal, Real Estate), and Region – Global Forecast to 2026″ published by MarketsandMarkets, the global digital signature market size is projected to grow from USD 4.0 billion in 2021 to USD 16.8 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 33.1% during the forecast period. Investments in electronic documents by governments and enterprises, Upgrade in end-to-end customer experience, and improved operational efficiency at lower OPEX are some of the prime driving factors for the growth of digital signature market.
A digital signature is a type of electronic signature, which uses a mathematical algorithm routinely used to validate the authenticity and integrity of a digital document. Digital signatures create a virtual fingerprint unique to a person or entity and are used to identify users and protect the information in digital messages or documents. In emails, the email content itself becomes a part of the digital signature. Digital signatures are significantly more secure than other forms of electronic signatures
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The major digital signature vendors include Adobe Inc. (US), OneSpan (US), Thales (France), DocuSign, Inc. (US), Ascertia (UK), Zoho (India), Secured Signing (New Zealand), Entrust Datacard (US), DigiCert, Inc. (US), IdenTrust (US), GlobalSign (US), Symtrax (US), ComSignTrust (Israel), Multicert (Portugal), AlphaTrust Corporation (US), SunGard SIGNiX Inc. (US), Notarius (Canada), RNTrust (UAE), Bit4id Ltd (Italy), and LAWtrust (South Africa).
These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their presence in the digital signature market. Partnerships, agreements and collaborations, and new product launches have been the most adopted strategies by the major players from 2020 to 2021 to innovate their offerings and broaden their customer base.
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Adobe is a multinational software company with three major business segments: digital marketing, digital media, and print and publishing. These solutions help end users collaborate, store, and manage their content, audio and video files, and documents in a convenient manner. It offers products and services that are used by creative professionals, marketers, knowledge workers, application developers, enterprises, and consumers for creating, managing, delivering, measuring, optimizing, and engaging with compelling content and experiences across personal computers, devices, and media. It caters to large enterprises and SMEs in various verticals, such as media and entertainment, banking, and eCommerce. The company has its presence across regions, such as North America, Europe, APAC, and MEA.
Adobe Offerings: Adobe Sign
DocuSign specializes in Digital Transaction Management (DTM), workflow automation, electronic signature solutions, and Contract Lifecycle Management. The company offers the DTM platform and eSignatures solutions and services. It also offers DTM via cloud software to assist individuals and organizations digitally in managing security approvals, decisions, contracts, and workflows. DocuSign offers products in 43 languages. The company has 425,000+ million customers in 188 countries. DocuSign serves accounting and tax, sales and marketing, construction, government, healthcare, education, legal, and technology industries.
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