The global digital signature market attained a valuation of $1,534.8 million in 2019 and is predicted to progress at a CAGR of 28.6% between 2020 and 2030. According to the forecast of P&S Intelligence, a market research company based in India, the market would generate a revenue of $23,949.7 million in 2030.
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The growing demand for biometrics integrated with digital signatures, especially in the banking, financial services, and insurance (BFSI) industry is the biggest factor fueling the market growth. Additionally, the rising requirement for eliminating paperwork and the increasing enactment of favorable government regulations and policies regarding digital signatures in several countries are driving the advancement of the digital signature market across the world.
The Electronic Signatures in Global and National Commerce Act (ESIGN) 2000 and the Uniform Electronic Transactions Act (UETA) 1999 are the two major legislations in the U.S. that promote the adoption of digital signatures in various transactions and business operations. These legislations provide legal validity to digital signatures and mandate that they cannot be denied enforceability in the country.
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This market research report provides a comprehensive overview of the market
- Future potential of the market through its forecast for the period 2020– 2030
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings