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Signature Verification Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global signature verification market size reached US$ 1.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 5.7 Billion by 2027, exhibiting a growth rate (CAGR) of 23.87% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor. 

Signature verification refers to an identity authentication technique that auto validates signatures. It helps save time and prevent human errors, thereby minimizing fraud risks in the authentication process. It also reduces operational costs, authenticates the legal identity of the person, and facilitates the workflow of organizations. As a result, the signature verification technique is extensively used in the government, healthcare, education, and banking, financial services and insurance (BFSI) industries worldwide.

Signature Verification Market Trends:

Rising instances of identity duplication and data theft in various industry verticals represent one of the key factors positively influencing the market. In addition, the increasing adoption of advanced authentication solutions to validate the identification of their customers is strengthening the growth of the market. Apart from this, the increasing transaction frauds and significant data stealing cases reported by healthcare providers, healthcare clearinghouses, and insurance providers are catalyzing the demand for signature verification solutions to prevent imperative information loss. Along with this, the healthcare industry is focusing on promoting e-signatures to prevent misplacement of records or equipment while eliminating possible errors. Additionally, several organizations are increasingly investing in upgrading their data verification processes by adopting dynamic signature verification (DSV). It helps compare signatures as per numerous parameters, such as acceleration, velocity, pressure, and geometrical shape of the biometric sample. Furthermore, the integration of artificial intelligence (AI) technology that enhances the capability of identifying data theft in an efficient manner is contributing to market growth. Moreover, the emerging trend of remote working policy and the widespread adoption of electronic signing across government and private organizations are catalyzing the demand for signature verification software to authenticate business transactions within legal frameworks.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global signature verification market report, along with forecasts at the global, regional, and country-level from 2022-2027. Our report has categorized the market based on product type, technology, and end-use industry.

Breakup by Product Type:

  • Hardware
  • Software

Signature verification software is the most widely used product type as it verifies signatures on print documents and online using mobile devices for various applications.

Breakup by Technology:

  • Static Signature Verification
  • Dynamic Signature Verification

The static signature verification technology represents the largest market segment as it is extensively used to validate cheques, credit cards, contracts, and historical documents.

Breakup by End Use Industry:

  • Education
  • Government
  • BFSI
  • Healthcare
  • Transport/Logistics
  • Defense and Security
  • Others

BFSI currently dominates the market on account of increasing incidences of scams and data theft in the industry.

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

North America exhibits a clear dominance in the market due to the growing adoption of signature verification by different organizations in the region. Moreover, multiple initiatives undertaken by the US Government to promote electronic signature verification is facilitating market growth.

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being 01 Systems, Ascertia Ltd., Biometric Signature ID, Certify Global Inc., Cyber Signs Ltd., DataVision Software Solutions Pvt. Ltd., Dynasign Corporation, Entrust Datacard Corporation, Hitachi Ltd., iSign Solutions Inc., J.C. Lads Corporation, Odyssey Technologies Limited, Scriptel Corporation and Sutisoft Inc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Product Type, Technology, End Use Industry, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 01 Systems, Ascertia Ltd., Biometric Signature ID, Certify Global Inc., Cyber Signs Ltd., DataVision Software Solutions Pvt. Ltd., Dynasign Corporation, Entrust Datacard Corporation, Hitachi Ltd., iSign Solutions Inc., J.C. Lads Corporation, Odyssey Technologies Limited, Scriptel Corporation and Sutisoft Inc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1   Preface
2   Scope and Methodology 

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Signature Verification Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6   Market Breakup by Product Type
    6.1    Hardware
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Software
        6.2.1 Market Trends
        6.2.2 Market Forecast
7   Market Breakup by Technology
    7.1    Static Signature Verification
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Dynamic Signature Verification
        7.2.1 Market Trends
        7.2.2 Market Forecast
8   Market Breakup by End Use Industry
    8.1    Education
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Government
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    BFSI
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Healthcare
        8.4.1 Market Trends
        8.4.2 Market Forecast
    8.5    Transport/Logistics
        8.5.1 Market Trends
        8.5.2 Market Forecast
    8.6    Defense and Security
        8.6.1 Market Trends
        8.6.2 Market Forecast
    8.7    Others
        8.7.1 Market Trends
        8.7.2 Market Forecast
9   Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10  SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11  Value Chain Analysis
12  Porters Five Forces Analysis

    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13  Competitive Landscape
    13.1    Market Structure
    13.2    Key Players
    13.3    Profiles of Key Players
        13.3.1    01 Systems 
           13.3.1.1 Company Overview
           13.3.1.2 Product Portfolio 
        13.3.2    Ascertia Ltd.
           13.3.2.1 Company Overview
           13.3.2.2 Product Portfolio
        13.3.3    Biometric Signature ID 
           13.3.3.1 Company Overview
           13.3.3.2 Product Portfolio 
        13.3.4    Certify Global Inc. 
           13.3.4.1 Company Overview
           13.3.4.2 Product Portfolio 
        13.3.5    Cyber Signs Ltd
           13.3.5.1 Company Overview
           13.3.5.2 Product Portfolio 
        13.3.6    DataVision Software Solutions Pvt. Ltd.
           13.3.6.1 Company Overview
           13.3.6.2 Product Portfolio 
        13.3.7    Dynasign Corporation
           13.3.7.1 Company Overview
           13.3.7.2 Product Portfolio 
        13.3.8    Entrust Datacard Corporation
           13.3.8.1 Company Overview
           13.3.8.2 Product Portfolio 
        13.3.9    Hitachi Ltd.
           13.3.9.1 Company Overview
           13.3.9.2 Product Portfolio 
           13.3.9.3 Financials
           13.3.9.4 SWOT Analysis
        13.3.10    iSign Solutions Inc.
           13.3.10.1 Company Overview
           13.3.10.2 Product Portfolio 
           13.3.10.3 Financials
        13.3.11    J.C. Lads Corporation
           13.3.11.1 Company Overview
           13.3.11.2 Product Portfolio 
        13.3.12    Odyssey Technologies Limited
           13.3.12.1 Company Overview
           13.3.12.2 Product Portfolio 
           13.3.12.3 Financials
        13.3.13    Scriptel Corporation
           13.3.13.1 Company Overview
           13.3.13.2 Product Portfolio 
        13.3.14    Sutisoft Inc. 
           13.3.14.1 Company Overview
           13.3.14.2 Product Portfolio 

List of Figures

Figure 1: Global: Signature Verification Market: Major Drivers and Challenges
Figure 2: Global: Signature Verification Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Signature Verification Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Signature Verification Market: Breakup by Product Type (in %), 2021
Figure 5: Global: Signature Verification Market: Breakup by Technology (in %), 2021
Figure 6: Global: Signature Verification Market: Breakup by End Use Industry (in %), 2021
Figure 7: Global: Signature Verification Market: Breakup by Region (in %), 2021
Figure 8: Global: Signature Verification (Hardware) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Signature Verification (Hardware) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Signature Verification (Software) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Signature Verification (Software) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Signature Verification (Static Signature Verification) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Signature Verification (Static Signature Verification) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Signature Verification (Dynamic Signature Verification) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Signature Verification (Dynamic Signature Verification) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Signature Verification (Education) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Signature Verification (Education) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Signature Verification (Government) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Signature Verification (Government) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Signature Verification (BFSI) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Signature Verification (BFSI) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Signature Verification (Healthcare) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Signature Verification (Healthcare) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Signature Verification (Transport/Logistics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Signature Verification (Transport/Logistics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Signature Verification (Defense and Security) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Signature Verification (Defense and Security) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Signature Verification (Other End Use Industries) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Signature Verification (Other End Use Industries) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: North America: Signature Verification Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: North America: Signature Verification Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: United States: Signature Verification Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: United States: Signature Verification Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Canada: Signature Verification Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Canada: Signature Verification Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Asia Pacific: Signature Verification Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Asia Pacific: Signature Verification Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: China: Signature Verification Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: China: Signature Verification Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Japan: Signature Verification Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Japan: Signature Verification Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: India: Signature Verification Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: India: Signature Verification Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: South Korea: Signature Verification Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: South Korea: Signature Verification Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Australia: Signature Verification Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Australia: Signature Verification Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Indonesia: Signature Verification Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Indonesia: Signature Verification Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Others: Signature Verification Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Others: Signature Verification Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Europe: Signature Verification Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Europe: Signature Verification Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Germany: Signature Verification Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Germany: Signature Verification Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: France: Signature Verification Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: France: Signature Verification Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: United Kingdom: Signature Verification Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: United Kingdom: Signature Verification Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Italy: Signature Verification Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Italy: Signature Verification Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Spain: Signature Verification Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Spain: Signature Verification Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Russia: Signature Verification Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Russia: Signature Verification Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Others: Signature Verification Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Others: Signature Verification Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Latin America: Signature Verification Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Latin America: Signature Verification Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Brazil: Signature Verification Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Brazil: Signature Verification Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Mexico: Signature Verification Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Mexico: Signature Verification Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Others: Signature Verification Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: Others: Signature Verification Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Middle East and Africa: Signature Verification Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: Middle East and Africa: Signature Verification Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: Global: Signature Verification Industry: SWOT Analysis
Figure 79: Global: Signature Verification Industry: Value Chain Analysis
Figure 80: Global: Signature Verification Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: Signature Verification Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Signature Verification Market Forecast: Breakup by Product Type (in Million US$), 2022-2027
Table 3: Global: Signature Verification Market Forecast: Breakup by Technology (in Million US$), 2022-2027
Table 4: Global: Signature Verification Market Forecast: Breakup by End Use Industry (in Million US$), 2022-2027
Table 5: Global: Signature Verification Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Signature Verification Market: Competitive Structure
Table 7: Global: Signature Verification Market: Key Players


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Key Questions Answered in This Report

The global signature verification market was valued at US$ 1.6 Billion in 2021.

We expect the global signature verification market to exhibit a CAGR of 23.87% during 2022-2027.

The sudden outbreak of the COVID-19 pandemic has led to the widespread popularity of electronic signing to authenticate business transactions within legal frameworks on account of the increasing deployment of remote working model.

The growing incidences of identity duplication, coupled with the rising integration of AI technology that enhances the capability of identifying data theft in an efficient manner, are primarily driving the global signature verification market.

Based on the product type, the global signature verification market can be segmented into hardware and software. Currently, software holds the majority of the total market share.

Based on the technology, the global signature verification market has been divided into static signature verification and dynamic signature verification, where static signature verification technology currently exhibits a clear dominance in the market.

Based on the end use industry, the global signature verification market can be categorized into education, government, BFSI, healthcare, transport/logistics, defense and security, and others. Among these, the BFSI industry accounts for the largest market share.

On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global signature verification market include 01 Systems, Ascertia Ltd., Biometric Signature ID, Certify Global Inc., Cyber Signs Ltd., DataVision Software Solutions Pvt. Ltd., Dynasign Corporation, Entrust Datacard Corporation, Hitachi Ltd., iSign Solutions Inc., J.C. Lads Corporation, Odyssey Technologies Limited, Scriptel Corporation, and Sutisoft Inc.

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