NEW YORK, Jan. 9, 2023 /PRNewswire/ — As per a recent research report published by P&S Intelligence, the total size of the U.S. digital signature market stood at USD 921.3 million in 2021, and it will propel at a mammoth CAGR of 31.2% in the years to come, reaching USD 10,612 million by 2030.
Solutions Are Used Most
The solution category will have the largest revenue share and grow at a rate of 33.3% in the near future. Solutions enable the authentication of digital records and the identity of the signer. Therefore, many sectors, including healthcare & life sciences, government & defense, legal, BFSI, real estate, and education, are swiftly accepting these solutions.
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BFSI Sector To Grow Fastest, as User
The BFSI industry is growing the most rapidly because of the increasing acceptance of digital signature hardware, such as biometric systems and smart cards, and related software tools in this sector. Additionally, these enterprises are allowing customers to perform online transactions faster, with digital signatures.
Professional Digital Signature Services Witnessing Mushrooming Demand
The industry also includes the revenue produced from professional and managed services, of which the professional services will grow faster in the years to come.
The demand for digital signature consulting, advisory, and knowledge is increasing among businesses looking for improved assistance with this novel signing technology in a short time.
Government Is Largest User of Digital Signatures
- The government sector will make the most use of digital signatures in the U.S. throughout this decade.
- Since the implementation of numerous related laws by the government of the U.S., such as the GPEA and UETA, the process of authentication has gradually seen the evolution from manual to digital approaches.
- Furthermore, government institutions prefer digital signatures for reducing forgery and gaining the confidence of the public in private documentation.
Cloud Deployment Will Be Preferred by Most People in Future
The cloud deployment of these solutions will grow at a considerable rate, of 32%, in the years to come. The fast growth will mainly be because of the rollout of easy-to-manage and subscription-based software by the IT vendors present in the industry.
Browse detailed report on U.S. Digital Signature Market Share, Growth, Trends and Demand Forecast to 2030
Furthermore, the advent of pay-as-you-go models has increased the requirement for cloud-based solutions amongst companies in the U.S.
For instance, Adobe recently introduced Adobe Sign, its cloud-based digital signature service centered on the open standard technology. Adobe Sign and Adobe Document Cloud will now allow for the usage of digital signatures from any mobile device or browser.
U.S. Digital Signature Market Report Coverage
By Deployment Type
By Organization Size
- Large Enterprises
- Small & Medium Enterprises (SMEs)
- Government and defense
- Healthcare and life sciences
- Real estate
- It and ITeS
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SOURCE P&S Intelligence