A new market study, titled “Discover Global Digital Sign Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Rising technological advancement has also witnessed a rise in the use of electronic documents. Thus, to enforce some resolutions, contracts or negotiable instruments which are used in day to day business, sign and seal must be available in e copy to affix the same on the e-documents. With the advancement in technology and rise in use of such electronic documents, even the cyber law in various countries have undergone an amendment to accommodate such documents as an admissible piece of evidence.
Digital signature forms part of Information Technology law, and it also comes with rules and regulation as to its issuance, use, and cancellation. Thus, the digital signature cannot be used without authority, and it must be kept safe and secure and in the hands of the authorized signatory only. Majorly, all corporates and government agencies use a digital signature. The workflow system that affixes the digital signature correctly in the right place must be proper.
The digital signature must be used in compliance with the prevailing rules, regulation, and law in force. Owing to the use of digital signature, the LED and OLED display industry has also marked growth. It is expected to grow at a rapid pace. Transparent Display and Electronic Paper Display are expected to mark high growth because of the use of the digital signature. Hotels, Hospital, Corporate, Government Sector, E-commerce, and other entities are major commercial vertical that uses a digital signature. This technology is adopted to ensure ease and security.
Key Players of Global Digital Sign Market –
* Cisco Systems Inc
* Samsung Electronics
* LG Electronics
* Adflow Networks
* KeyWest Technology Inc
The Digital Sign Market is used almost in and across all industries. Thus, based on application, the digital signature market can be segmented into Human Resource Management, Government and Corporate agencies, Real Estate, Sales, Marketing, Pharmaceuticals, Hospitals, Hospitality Management, Defence, Education and Research, Telecom and many others. Based on the component solution, the Digital Sign Market is categorized into hardware and software. Deployment mode of Digital Signature is On-premise and Cloud Service.
The Major market concentration for the digital signature market is in the regions such as Europe comprising UK, Germany, Italy, France, and Spain; North America comprising the US, Mexico, and Canada; Asia Pacific Region comprising China, Japan, India, Australia and South Korea; Latin America, Middle East and Africa.
With Globalization and Industrialization, use of Digital Signature is not only vital, but it has become inevitable, as every time a person cannot be available at different places to sign some documents or financial instruments. Hence, the digital signature comes to rescue in such situations. With the increase in the use of technology and with e-copies being preferred as an environment-friendly initiative, the use of digital signature becomes significant. In 2018, the global digital sign market was witnessed to be 1.2 billion USD, and it is expected to grow up to 5.5 billion USD in 2023. The market is expected to grow at a Compound Annual Growth Rate of 36.7% during the forecast period.
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