Digital Signature Market Outlook For U.S.

The rising adoption of biometric solutions, based on digital signature, in the banking, financial
services, and insurance (BFSI) sector in the U.S. is one of the major factors propelling the
demand for digital signature in the country. The biometric systems utilize secured and
advanced digitally sound methods for identification and authentication procedures. These
systems provide unique keys to the characters of a person’s signature. The pattern of the
signature cannot be stolen or impersonated, thereby eliminating the chances of signature theft
and enhancing security.
The burgeoning adoption of internet-based transactions is another important factor fuelling the
demand for digital signatures in the U.S. Owing to the shorter time periods offered by
online transactions, they are being increasingly adopted by various financial services
companies as well as customers in the nation. In addition to this, digital signatures and e-
signatures offer numerous advantages, such as enhanced data analysis opportunities, higher
employee productivity, increased data security, improved efficiency in record keeping, and
higher information benefits to citizens, which make them highly-sought- after in the U.S.
Driven by the above-mentioned factors, the U.S. digital signature market is expected to
demonstrate huge growth in the coming years. Since the last few years, the popularity of
digital signatures has been increasing rapidly in several industries, on account of the fact that
this technology reduces the possibility of thefts and frauds. For instance, various specialists in
the healthcare industry, such as lab investigators, researchers, and doctors, are increasingly
transferring prescriptions and other digitally signed data from the hospitals’ servers to that of
the pharmacies.
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In the U.S., digital signatures are implemented either through cloud or on-premises. Of these,
the cloud-based implementation of digital signatures is expected to rise rapidly over the next
few years. This is mainly attributed to the fact that a lot of companies are offering digital
signature solutions and services in the form of subscription-based models. In addition to this,
the increasing popularity of cloud-based services and the rise of the pay-as-you-go models are
expected to further propel the cloud-based deployment of this technology in the country, in
future.
The boom of the e-commerce industry, owing to the soaring internet penetration and
increasing ease of online transactions, is offering tremendous opportunities for the growth of
the U.S. digital signature market. The adoption of digital signatures will increase in the U.S.,
as these are used by the e-commerce companies for providing themselves with confidentiality
and integrity and enabling authentication in their business transactions. As per the e-
Commerce Foundation, the e-commerce market in the nation was observed to be the second
largest in the world in 2015, and the situation hasn’t changed much till now.
Hence, it is clear that due to the increasing prevalence of digital transactions and the numerous
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