Market Overview:
The global signature verification market is expected to grow at a CAGR of 10.8% from 2018 to 2030. The market growth is attributed to the increasing demand for digital signatures for authentication and authorization purposes in various applications such as education, government, banking, financial services and insurance (BFSI), and other industries. In addition, the growing trend of Bring Your Own Device (BYOD) is also fueling the demand for signature verification solutions across different industry verticals. The static signature verification segment is expected to hold the largest share of the global signature verification market in 2018. This can be attributed to its ability to verify a digital signature without any change in its format or content over time.
Product Definition:
A digital signature scheme is a mathematical technique used to verify the authenticity of a message or document. A message is encrypted with a private key, and can only be decrypted using the corresponding public key. The signature is created by encrypting the message with the sender's private key and appending the result to the end of the message.
Static Signature Verification:
The global static signature verification (SSV) market size was valued at USD 0.0025 billion in 2016 and is expected to grow at a CAGR of XX% over the forecast period. The growth can be attributed to increasing adoption of SSV technology by banks, financial institutions, and e-commerce companies for fraud prevention purposes.
Dynamic Signature Verification:
Dynamic signature verification is a technique used to detect alteration of data in a system. It uses statistical analysis and pattern matching techniques to compare the digitally signed document with the original document. The process works on the basis that if there is any change in contents then it will affect the overall digital signature and can be detected easily using dynamic signature verification technique.
The major advantage of this method over other methods is that it does not require any specific knowledge for detection of alterations, i.
Application Insights:
The other application segment includes retail, healthcare, telecom and IT, public sector and transportation. Other applications accounted for a significant market share in 2017. The growth of this segment can be attributed to the growing use of SGVs by banks and financial institutions to validate signatures on cheque images.
The banking sector is one of the major users of SGVs as they help detect frauds during e-commerce transactions or even at a branch level when customers sign documents or deposit/withdrawal money from their accounts. In addition, stringent regulations applicable in various countries such as the U.S., France or India for mandatory signature on all bank documents are also expected to boost industry growth over the forecast period (see details below).
Regional Analysis:
The Asia Pacific dominated the global market in 2017. The region is expected to maintain its dominance over the forecast period. This can be attributed to increasing government regulations and compliance issues, rising number of cyber-attacks, and growing adoption of digital signature technology across various industries in emerging economies such as China and India. Moreover, increasing demand for high-speed internet services has led to an increase in online transactions which will further boost growth opportunities for GSV vendors/service providers across this region.
North America is projected to grow at a significant rate over the forecast period owing to increased government spending on cybersecurity initiatives along with technological advancements by key players operating within this regional market (e.g., Google LLC; Symantec Corporation). Furthermore, presence of prominent GSV solution providers coupled with high awareness levels regarding risks associated with electronic data theft are some other factors contributing toward regional growth prospects during the forecast years 2018 - 2030 (estimated CAGR). Additionally, U.S.
Growth Factors:
- Increasing demand for secure and authenticated digital transactions
- Proliferation of online banking and e-commerce activities
- Growing number of government initiatives to promote signature verification technologies
- Rising awareness about the benefits of signature verification among businesses and consumers
- Technological advancements that make signature verification more efficient and user-friendly
Scope Of The Report
Report Attributes
Report Details
Report Title
Signature Verification Market Research Report
By Type
Static Signature Verification, Dynamic Signature Verification
By Application
Education, Government, Banking, Financial Services and Insurance(BFSI), Other
By Companies
Biometric Signature ID, Certify Global, Cyber-SIGN(Witswell Consulting and Services), ISign Solutions, Systems, Ascertia, Datavision Image, DynaSig, Entrust(Datacard), Hitachi, KeCrypt, Kofax(Acquired by Lexmark), Odyssey Technologies, Parascript, Scriptel, Secured Signing, Softpro, SutiSoft, SQN Banking Systems, WonderNet
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
150
Number of Tables & Figures
105
Customization Available
Yes, the report can be customized as per your need.
Global Signature Verification Market Report Segments:
The global Signature Verification market is segmented on the basis of:
Types
Static Signature Verification, Dynamic Signature Verification
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Education, Government, Banking, Financial Services and Insurance(BFSI), Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Biometric Signature ID
- Certify Global
- Cyber-SIGN(Witswell Consulting and Services)
- ISign Solutions
- Systems
- Ascertia
- Datavision Image
- DynaSig
- Entrust(Datacard)
- Hitachi
- KeCrypt
- Kofax(Acquired by Lexmark)
- Odyssey Technologies
- Parascript
- Scriptel
- Secured Signing
- Softpro
- SutiSoft
- SQN Banking Systems
- WonderNet
Highlights of The Signature Verification Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Static Signature Verification
- Dynamic Signature Verification
- By Application:
- Education
- Government
- Banking, Financial Services and Insurance(BFSI)
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Signature Verification Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Signature verification is a process of confirming the identity of a person or entity by verifying their digital signature. A digital signature is a mathematical algorithm used to create an electronic document that has been signed, typically using cryptography. The algorithm creates an encrypted message that can only be decrypted if the signer's private key is known. The verification process compares the digital signature on the document to the public key associated with the signer. If they match, it confirms that the person or entity signing the document is who they say they are
Some of the major companies in the signature verification market are Biometric Signature ID, Certify Global, Cyber-SIGN(Witswell Consulting and Services), ISign Solutions, Systems, Ascertia, Datavision Image, DynaSig, Entrust(Datacard), Hitachi, KeCrypt, Kofax(Acquired by Lexmark), Odyssey Technologies, Parascript, Scriptel, Secured Signing, Softpro, SutiSoft, SQN Banking Systems, WonderNet.
The signature verification market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Signature Verification Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Signature Verification Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Signature Verification Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Signature Verification Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Signature Verification Market Size & Forecast, 2020-2028
4.5.1 Signature Verification Market Size and Y-o-Y Growth
4.5.2 Signature Verification Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Static Signature Verification
5.2.2 Dynamic Signature Verification
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Education
6.2.2 Government
6.2.3 Banking
6.2.4 Financial Services and Insurance(BFSI)
6.2.5 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Signature Verification Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Signature Verification Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Static Signature Verification
9.6.2 Dynamic Signature Verification
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Education
9.10.2 Government
9.10.3 Banking
9.10.4 Financial Services and Insurance(BFSI)
9.10.5 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Static Signature Verification
10.6.2 Dynamic Signature Verification
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Education
10.10.2 Government
10.10.3 Banking
10.10.4 Financial Services and Insurance(BFSI)
10.10.5 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Static Signature Verification
11.6.2 Dynamic Signature Verification
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Education
11.10.2 Government
11.10.3 Banking
11.10.4 Financial Services and Insurance(BFSI)
11.10.5 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Static Signature Verification
12.6.2 Dynamic Signature Verification
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Education
12.10.2 Government
12.10.3 Banking
12.10.4 Financial Services and Insurance(BFSI)
12.10.5 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Static Signature Verification
13.6.2 Dynamic Signature Verification
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Education
13.10.2 Government
13.10.3 Banking
13.10.4 Financial Services and Insurance(BFSI)
13.10.5 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Signature Verification Market: Competitive Dashboard
14.2 Global Signature Verification Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Biometric Signature ID
14.3.2 Certify Global
14.3.3 Cyber-SIGN(Witswell Consulting and Services)
14.3.4 ISign Solutions
14.3.5 Systems
14.3.6 Ascertia
14.3.7 Datavision Image
14.3.8 DynaSig
14.3.9 Entrust(Datacard)
14.3.10 Hitachi
14.3.11 KeCrypt
14.3.12 Kofax(Acquired by Lexmark)
14.3.13 Odyssey Technologies
14.3.14 Parascript
14.3.15 Scriptel
14.3.16 Secured Signing
14.3.17 Softpro
14.3.18 SutiSoft
14.3.19 SQN Banking Systems
14.3.20 WonderNet
