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