Signature Verification Market 2019 Global Applications, Industry Analysis by Size, Future Scope, Competitive Landscape and Trends by Forecast 2023

The report on the global Signature Verification market covers historical market trends, current market dynamics, market valuation by segmentation as well as region, country-level analysis for every segment, competitive landscape and supply chain analysis.

Market Highlights:

A signature is one of the distinguishing features of a person’s identity used for verification processes. It is used at financial organizations, governments, and businesses to authorize essential documents and transactions. The global signature verification market is expected to garner a revenue of USD 2.99 billion during the forecast period of 2018-2023. A rising number of security breaches and fraudulent transactions are estimated to push the global signature verification market exponentially.

Further, supportive government initiatives are likely to encourage the adoption of signature verification systems in various industry verticals. Also, a rise in the operational efficiency and lower time consumption are witnessed upon the deployment of signature verification systems, fueling market growth. According to the latest MRFR report, the global signature verification system market is anticipated to garner a stellar CAGR of 25.09% by the end of the forecast period.

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Major Key players

• Cyber-SIGN (US),
• Biometric Signature ID (US),
• iSign Solutions (US),
• Certify Global (US)
• SutiSoft (US).
• KeCrypt (UK),
• Ascertia (UK),
• Odyssey Technologies (India),
• Hitachi (Japan),
• WonderNet (Israel),
• SQN Banking Systems (US),
• Scriptel (US),
• Parascript (US),
• Secured Signing (New Zealand)
• DynaSig (USA).

According to MRFR, Worldwide Signature Verification market is expected to grow from USD 0.80 billion in 2017 to USD 2.99 billion by 2023, at a compound annual growth rate (CAGR) of 25.09% during the forecast period.

Industry News
April 2019: IDnow and DocuSign announced the ANSSI certification of DocuSign’s fully qualified electronic signature offering based on IDnow’s remote video identification verification platform. IDnow is a leading provider of online identification verification solutions. Whereas, DocuSign is a global leader in electronic signatures and Trust Service Providers.

Competitive Analysis
The prominent players in the global signature verification market are focused on creating new and improved solutions and investing heavily in the research and development of the same. Further, they have a dedicated focus on new and better innovation in their products to create differentiated products and show off a diverse portfolio. These key players are incorporating organic strategies such as product innovation and product launches to garner larger market shares and improve their growth prospects. Some of these players are also indulging into inorganic strategies such as expansions, partnerships, joint ventures, and mergers and acquisitions to increase their footprint on the global market and sustain a higher position in the long run.

Regional Analysis

The global market for signature verification systems is regionally segmented into Europe, Asia Pacific (APAC), Europe, and the Rest of the World (RoW). North America is estimated to be the market frontrunner for signature verification systems due to latent demand for signature verification systems in large banks and PCI companies located in the region. Countries like Peru, Brazil, Argentina, Colombia, and Chile are likely to witness burgeoning demand for signature verification systems from the BFSI sector. This is because BFSI is one of the most regulated sectors which requires references and certifications to verify the legality and validity of the signatures.
Europe is estimated to garner substantial growth during the forecast period owing to a rapidly rising demand from the small and medium enterprises for signature verification solutions. The government and BFSI sectors in France, Italy, and the U.K. are rapidly deploying signature verification systems for incorporating an additional layer of security against cyber threats, fueling the market growth in Europe to a great extent.

The global signature verification market is segmented on the basis of component, technology, end-user, and region. Based on component, the signature verification market has been segmented into hardware and software components. Based on end-user, the signature verification market is segmented into BFSI, government & defense, healthcare & life sciences, real estates, education & research, and human resources. Based on technology, the signature verification market is segmented into static signature verification and dynamic signature verification.

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Intended Audience
• Digital signature solution and service providers
• Information security directors/managers
• End users/consumers/enterprise users
• Government organizations
• System integrators and resellers
• Hardware Security Module (HSM) manufacturers
• Professional service providers
• Solution integrators
• Cyber security vendors
• Government organizations
• Software vendors
• Service providers and distributors
• Research organizations
• IT security agencies
• Investors and venture capitalists

Table 1 Global Signature Verification Market, by Region, 2018–2023
Table 2 North America: Signature Verification Market, by Country, 2018–2023
Table 3 Europe: Signature Verification Market, by Country, 2018–2023
Table 4 Asia-Pacific: Signature Verification Market, by Country, 2018–2023
Table 5 Middle East & Africa: Signature Verification Market, by Country, 2018–2023
Table 6 Latin America: Signature Verification Market, by Country, 2018–2023
Table 7 Global Signature Verification Technology Market, by Region, 2018–2023

FIGURE 1 Global Signature Verification Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis of Global Signature Verification Market
FIGURE 4 Value Chain of Global Signature Verification Market

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Organization: Market Research Future
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Release ID: 505783