Global Signature Verification Market 2017-2021

Overview of the global signature verification market

Technavio's market research analysis identifies the strong need to reduce identity duplication as one of the primary growth factors for the signature verification market. The rising number of forgeries and identity thefts are increasing the need for solutions that are difficult to imitate. The banking, financial services, and insurance (BFSI) sector is increasingly focusing on providing the highest level of security to its customers without compromising their convenience. The payments and card industry (PCI) has been digitally transformed with the introduction of new and secure payment methods such as personal identification number (PIN) cards, mobile wallets, and Europay, MasterCard, and Visa chips (EMV) to keep up with the customer requirements for saftey. Our market research analysts predict that this market grow steadily at a CAGR of around 9% by 2021.

The Americas is one of the primary adopters of the signature verification market and this is mainly influenced by the increased acceptance among financial institutions and the growing need to prevent identity theft. Additionally, the stringent government regulations to incorporate signature verification into their credential authentication paradigms and the rising adoption of signature verification in the BFSI sector due to the huge amount of regulation of money and data.

Competitive landscape and key vendors

The signature verification market is intensely competitive due to the presence of several established international and regional players competing based on market visibility, market penetration, and growth momentum. The regional players are struggling to compete with the international players. The level of competition among the vendors in this market will further intensify due to the increase in product and service extensions, technological innovations, and M&A. The digital signature vendors are mainly focusing on launching innovative products with advanced features.

The leading vendors in the market are -

• Biometric Signature ID
• CERTIFY GLOBAL
• Cyber-SIGN
• iSign Solutions

The other prominent vendors in the market are 01 Systems, Ascertia, DATAVISION IMAGE, DynaSig, Entrust (Datacard), Hitachi, KeCrypt, Kofax (Acquired by Lexmark), Odyssey Technologies, Parascript, Scriptel, Secured Signing, SOFTPRO, SutiSoft, SQN Banking Systems, and WonderNet.

Segmentation by technology and analysis of the signature verification market

• Static signature verification
• Dynamic signature verification

The dynamic signature verification technology is quickly replacing paper-based signatures as it enables the reduction of the transaction time and the expenses related to manual paper-based processes and also increases compliance and security. Additionally, this technology provides significant benefits such as automatic detection of any changes made to the document, immediate invalidation of the signatures in case of any unauthorized access to the document, and notifications to all the parties involved.

Segmentation by end user and analysis of the signature verification market

• Education
• Government
• Banking, financial services, and insurance (BFSI)

The BFSI sector is increasingly preferring the usage of secure and convenient biometric technologies such as iris and facial recognition to avoid time delays, ensure accuracy, and prevent the loss of critical and confidential data of the customers. Additionally, the rising incidents of security breaches and transaction fraud in the BFSI sector are also influencing the demand for highly secure identification and verification methods such as electronic signatures.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global signature verification market?
• What are the key market trends impacting the growth of the global signature verification market?
• What are the challenges to market growth?
• Who are the key vendors in the global signature verification market?
• What are the market opportunities and threats faced by the vendors in the global signature verification market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global signature verification market?

Technavio also offers customization on reports based on specific client requirement.

Signature verification is an advanced technique used by intelligence agencies, banks,  and high-profile institutions to authenticate the identity of an individual. Signature verification, being a matter of prime importance is an essential component of IT security, which is a part of the ICT industry. Apart from this report, Technavio offers a vast collection of research reports for the ICT industry by providing information and insights on the market and considering the total market size, emerging regions, and competitive assessment.

The market research analysts at Technavio go through a rigorous analysis of expert opinions, research journals, and client survey to conduct primary and secondary research. The information thus collected helps the client in devising effective growth strategies by giving insights into the growth potential of the market and upcoming trends. The upcoming report on the global signature verification market identifies Certify, M2SYS, Safran, Parascript, Hitachi, Biometric Signature ID, Gradiant Signature, SOFTPRO, NewGen which are some of the vendors operating in the market.

The upcoming research report on the global signature verification market also considers the growth of similar markets such as global connected home security system market and global two-factor authentication (2FA) market, which are expected to grow at a CAGR of 27% and 24%, respectively, for the forecast period of 2017 to 2021. The report also considers the growth of the market in regions like the Americas, APAC, and EMEA.

The upcoming research report on the global signature verification market also includes an assessment of market analysis, market profit potential, key drivers, competitive landscape, and opportunities and challenges faced by the industry. The report also covers related sectors from ICT markets such as machine to machine (M2M) and connected device, data center, IT spending, and product lifecycle management.

Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.