According to the latest report by IMARC Group, titled, “Signature Verification Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global signature verification market grew at a CAGR of around 20% during 2014- 2019.
Signature verification software performs auto-validation of signatures from the signatory with claimed individuals. It compares the signature image fed into the software with that on a file. Signature verification software reduces operational costs, saves time, and validate the legal identity of the person. As a result, it finds extensive applications across diverse industries, such as education, government, healthcare, and BFSI, to reduce human errors and ensure process compliance.
Market Trends
The increasing incidences of data theft and identity duplication, security breaches, and transaction fraud, are primarily driving the need for signature verification to protect critical and confidential data. Moreover, the increasing utilization of electronic signatures in the retail industry is also augmenting the market growth. The emergence of dynamic signature verification (DSV) that compares signature parameters, such as velocity, acceleration, pressure, and geometrical shape, is further catalyzing the global market. Moreover, rising approach towards remote working model due to COVID-19 outbreak has augmented. the trend for electronic signing, thereby propelling the demand for signature verification software.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Signature Verification Market 2020-2025 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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. , JC Lads Corporation, Odyssey Technologies Limited, scriptel Corporation and Sutisoft Inc.
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Breakup by Product Type:
Hardware
Software
Breakup by Technology:
Static Signature Verification
Dynamic Signature Verification
Breakup by End Use Industry:
Education
Government
BFSI
Healthcare
Transport / Logistics
Defense and Security
Others
Breakup by Region:
North America
Asia Pacific
Europe
Latin America
Middle East and Africa
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