Nordic Digital Signature Market, By Component (Software, Hardware, and Services), Deployment Mode (Cloud and On-Premises), Organization Size (Large Enterprises and SMEs), End-User (Enterprises and Consumer), Vertical (BFSI, Healthcare and Life Sciences, Human Resources, IT & Telecom, Manufacturing, Retail, Legal Services, Real-Estate, Education, Government, and Others), Country (Denmark, Sweden, Finland, Norway, and Iceland) Industry Trends and Forecast to 2028
Market Analysis and Insights: Nordic Digital Signature Market
Nordic digital signature market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with the CAGR of 18.9% in the forecast period of 2021 to 2028 and expected to reach USD 235.98 million by 2028. Growing adoption of cloud based digital signatures is a factor boosting in market growth.
Digital signature is an electronic form of signature, which utilizes public key infrastructure (PKI), in order to check the authenticity of digital documents. It ensures that content of messages is not altered in transit and helps in overcoming the problem of tampering. It also provides additional information including status, message, and consent by the signer. Digital signature solutions are utilized by government institutions, financial services providers, and healthcare providers, for purposes such as processing of tax returns, managing of contracts, loan approval, bank account opening, patient documentation, and others.
The rising demand for e-business and paperless transactions, are driving the growth of the market. Digital signature helps an organization in saving time and money, increase productivity, centralized workflow, and reduced tampering of documents. Nordic digital signature market is growing rapidly because of the growing adaption of digital signature by BFSI sector and surging government initiatives of the government toward digitization. As a result, the market players are even launching new products so as to gain larger market share.
This digital signature market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographical expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Nordic Digital Signature Market Scope and Market Size
Nordic digital signature market is segmented into five notable segments which are based on the component, deployment mode, organization size, end user, and vertical. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, Nordic digital signature market is segmented into software, hardware, and services. In 2021, software category held the larger share in the market. This is mainly due to factors such as increasing demand for cloud-based security solutions, rising need for authentication of users during digital transactions, surging trend for paperless dealings, and improved focus on compliance and security pertaining to business activities
- On the basis of deployment mode, Nordic digital signature market is segmented into cloud and on-premises. In 2021, cloud category held the larger share as they have huge storage capacity, which further allows interpretation of data in real-time. Moreover, cloud based digital signature software allows to edit and check agreements form anywhere and in turn sharing with necessary contacts, which is likely to fuel market growth.
- On the basis of organization size, Nordic digital signature market is segmented into large enterprises and SMEs. In 2021, large enterprises category in the market, attributed to extensive need for digital signature software by large organizations for signing of important documents as well as for financial transactions, and among others.
- On the basis of end-user, Nordic digital signature market is segmented into enterprises and consumer. In 2021, enterprises category held larger share in the Nordic digital signature market. This is mainly attributed to increasing digital interactions with customers, growth in mobile device utilization, reduced project timeline, low costs, automated workflow, and ensuring document integrity.
- On the basis of vertical, Nordic digital signature market is segmented into BFSI, healthcare and life sciences, legal services, real-estate, manufacturing, retail, education, human resources, IT & telecom, government, and others. In 2021, BFSI category held largest share in the Nordic digital signature market, owing to high focus toward digital banking, efficient and organized documents centralization, reduced costs as money won’t be spent on purchasing materials, ability to serve more number of customers, and increased transparency.
Nordic Digital Signature Market Country Level Analysis
Nordic digital signature market is analysed and market size information is provided by country, component, deployment mode, organization size, end user, and vertical as referenced above.
The countries covered in the Nordic digital signature market report are Sweden, Denmark, Finland, Norway, and Iceland.
Sweden is capturing the largest market share and is expected to dominate the market, due to strong presence of large number of software companies, increasing focus toward adoption of digitization, and rising emphasis of BFSI sector toward the digital financial transactions, which would result in implementation of digital signature solutions. In Denmark, Software held largest share in the market in 2021, owing to high adoption of digital signature solutions in the BFSI sector, surging focus of the government toward introduction of online digital services, high preference toward compliance and security, and favorable conditions toward digital legally indeed documents. In Finland, software category held largest share in the market in 2021, due to surging utilization of digital signature in majority of business documents, favorable laws toward electronics signatures such as Finnish Act on Strong Electronic Identification and Electronic Trust Services, among others.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
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Nordic digital signature market also provides you with detailed market analysis for every country growth in installed base of different kind of products, impact of technology using life line curves and changes regulatory scenarios and their impact on the Nordic digital signature market. The data is available for historic year 2019
Competitive Landscape and Nordic Digital Signature Market Share Analysis
Nordic digital signature market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to Nordic digital signature market.
The major players covered in the report are Adobe, DocuSign Inc., Signicat AS, Digicert Inc., GlobalSign, Assently AB, Scrive AB, Swedish e-identity, GetAccept Inc., Oneflow, Comfact AB, Criipto AB, CGI Inc., TietoEvry, TellusTalk AB, Verisec International AB, Nexus Group, Visma Group Holding AS, Egreement AB, and ZignSec AB among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
For instance,
- In September 2019, Verisec International AB launched new technology to quickly and securely issue an e Signature. The technology has been launched for the users in Denmark, Finland and U.K. This has helped the company to enhance their offerings and to grow in the market.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for Nordic digital signature market through expanded product range.
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