Electronic Signature Software Market | CAGR 34.2% by 2030

Electronic Signature Software Market Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Solution and Services), Deployment (Cloud and On-premise), Method (General Electronic Signature, Qualified Electronic Signature, and Advanced Electronic Signature), and End-User (Manufacturing, BFSI, Pharmaceuticals, Government Agencies, Legal, and Others)

  • Report Code : TIPTE100000939
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 189
Buy Now

[Research Report] The electronic signature software market was valued at US$ 3.3 billion in 2022 and is projected to reach US$ 35.7 billion by 2030; it is expected to record a CAGR of 34.2% from 2022 to 2030.

Analyst Perspective:

Electronic signatures, such as cloud signatures, are considered to be the most secure type of e-signature across the globe. When an enterprise or individual needs the highest level of assurance to identify a signer, they can protect their transaction or comply with local laws by opting for an electronic signature that uses a digital identity verified by a trusted third party. A few of the key factors that are contributing to the growth of the electronic signature software market include increasing digitization, advancements in technologies, and companies' growing focus on providing better end-to-end services. On a global scale, manufacturing, BFSI, pharmaceuticals, government agencies, and legal are a few of the major end-use industries that are at the forefront of electronic signature software spending worldwide. 

Electronic Signature Software Market Overview:

An e-signature or electronic signature is an effective and legal way to sign electronic documents quickly. It is a secure and trusted system that can replace a handwritten signature in many processes. The electronic signature provides superior security to the party signing documents and the one receiving them. Electronically signed documents have a greater potential in the legal sector, which is a major factor supporting the electronic signature software market growth. Electronic signature software provides several advantages that enable businesses to streamline the workflow. The advantages of electronic signatures include increased business speed, improved document accuracy, cost and time optimization, and enhanced customer service, among others.

Customize This Report To Suit Your Requirement

You will get customization on any report - free of charge - including parts of this report, or country-level analysis, Excel Data pack, as well as avail great offers and discounts for start-ups & universities

Electronic Signature Software Market: Strategic Insights

electronic-signature-software-market
  • Get Top Key Market Trends of this report.
    This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.

Electronic Signature Software Market Driver:

Rising Adoption of Digital Technologies by Enterprises

     

Electronic signature software is witnessing increased adoption across every public as well as private enterprise. International and national banks, government offices, small and medium-sized firms, and others require digital signatures to protect and control critical data. Various firms use digital signatures to avert data breaches and ensure dependable interactions with their business partners and internal procedures. This is further supported by younger consumers, who are increasingly incorporating digital signature solutions in their daily lives. For example, according to Adobe 2020 research, more than 61% of Adobe's clients in APAC were millennials from 2019 to 2020.

Furthermore, companies with employees and branches located in different sites across the globe are increasing the usage of electronic signatures in their processes. It helps them to reduce time by eliminating the need to print and transport documents for approval. Also, it is not easy to store and retrieve physical documents in the long term. According to the Federation of Indian Chambers of Commerce and Industry (FICCI) report as of October 2023, approximately 35% of respondents reported a reduction in their annual operational costs by 11–20% as a result of digitalization. Companies are transforming their business digitally to compete effectively in the digital era. Thus, the rising adoption of digital technologies by enterprises drives the electronic signature software market growth.

Electronic Signature Software Market Segment Analysis:

The electronic signature software market is categorized on the basis of component, deployment, method, and end-user. Based on deployment, the electronic signature software market is bifurcated into cloud and on-premise. Based on offering, the electronic signature software market is divided into solutions and services. Based on method, the electronic signature software market is categorized into general electronic signature, qualified electronic signature, and enhanced electronic signature. Based on end-user, the electronic signature software market is classified into BFSI, pharmaceutical, manufacturing, government agencies, legal, and others. By geography, the market is segmented into five main regions, including North America, Asia Pacific, Europe, Middle East & Africa, and South America.

Businesses in the present market scenario are focusing on the adoption of cost-effective solutions that offer additional features with enhanced data integrity and greater transparency. Various entities across the globe are using electronic signature solutions. For instance, in November 2023, Lion Travel adopted the DottedSign e-signature solution that helps the company achieve a more efficient, convenient, and sustainable method of signing travel contracts, which is expected to result in an annual paper saving of ~4.5 metric ton. Thus, such instances propel the electronic signature software market growth for the solution segment.

Electronic Signature Software Market Regional Analysis:

The Europe electronic signature software market was valued at US$ 1.01 billion in 2022 and is projected to reach US$ 11.03 billion by 2030; it is expected to record a CAGR of 34.7% from 2022 to 2030. The market for electronic signature software in Europe is segmented into France, Germany, Russia, Italy, the UK, and the Rest of Europe. In European legislation, electronic signatures were first acknowledged via the directive on a community framework for electronic signatures adopted in 1999. In Europe, in July 2016, the Electronic Identification and Trust Services Regulation (eIDAS) established a legal structure for electronic signatures and documents across the European Union (EU). Since July 2016, electronic signatures in the region have been governed by the Electronic Identification and Trust Services (eIDAS) regulation; it offers a regulatory environment directly applicable to all EU Member States to allow seamless and secure electronic interactions between citizens, businesses, and public authorities. This also offers companies a predictable legal environment to develop and expand the use of electronic signatures in the region.

Key Player Analysis:    

The electronic signature software market analysis is based on the annual performances of major players such as Adobe Inc.; Docusign, Inc.; Esign Genie; HID Global; Legalesign Limited; OneSpan; RPost; Thales S.A.; U-SIGN-IT; and Zoho Corporation. Several other essential electronic signature software market players were analyzed to get a holistic view of the market and its ecosystem.

Electronic Signature Software Market Regional Insights

The regional trends and factors influencing the Electronic Signature Software Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Electronic Signature Software Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

electronic-signature-software-market-global-geography
  • Get the Regional Specific Data for Electronic Signature Software Market

Electronic Signature Software Market Market Report Scope

Report Attribute Details
Market size in 2022 US$ 3.3 Billion
Market Size by 2030 US$ 35.7 Billion
Global CAGR (2022 - 2030) 34.2%
Historical Data 2020-2021
Forecast period 2023-2030
Segments Covered By Component
  • Solution
  • Services
By Deployment
  • Cloud and On-premise
By Method
  • General Electronic Signature
  • Qualified Electronic Signature
  • Advanced Electronic Signature
By End-User
  • Manufacturing
  • BFSI
  • Pharmaceuticals
  • Government Agencies
  • Legal
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Adobe Inc.
  • Docusign, Inc.
  • Esign Genie
  • HID Global
  • Legalesign Limited
  • OneSpan
  • RPost
  • Thales S.A.
  • U-SIGN-IT
  • Market Players Density: Understanding Its Impact on Business Dynamics

    The Electronic Signature Software Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

    Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

    Major Companies operating in the Electronic Signature Software Market are:

    1. Adobe Inc.
    2. Docusign, Inc.
    3. Esign Genie
    4. HID Global
    5. Legalesign Limited

    Disclaimer: The companies listed above are not ranked in any particular order.


    electronic-signature-software-market-speedometer

    • Get the Electronic Signature Software Market top key players overview

    Recent Developments:

    Companies in the electronic signature software market focus on both inorganic and organic strategies for their business growth. A few recent key market developments by the above electronic signature software market players are listed below: 

    • In 2023, Adobe Inc integrated its Acrobat Sign with Salesforce to help organizations operate faster with trusted e-signatures. Acrobat Sign benefits its customers by allowing them to sign in seconds from any device, which increases productivity for everyone involved in the approval process.
    • In 2023, DocuSign Inc. launched an AI-powered ID verification solution to conduct biometric checks. It helps signers to present valid identification documents physically during the signing process.
    • Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
    • PEST and SWOT Analysis
    • Market Size Value / Volume - Global, Regional, Country
    • Industry and Competitive Landscape
    • Excel Dataset
    Report Coverage

    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered

    Segment Covered

    Component, Deployment, Method, and End-User

    Regional Scope

    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope

    Country Scope

    This text is related
    to country scope.

    Frequently Asked Questions


    What is the estimated market size for the global electronic signature software market in 2022?

    The global electronic signature software market was estimated to be US$ 3.39 billion in 2022 and is expected to grow at a CAGR of 34.2% % during the forecast period 2023 - 2030.

    What are the driving factors impacting the global electronic signature software market?

    Rising adoption of digital technologies by enterprises, growing number of green initiatives, and increasing use of electronic signatures in e-commerce industry are some of the drivers for the market.

    What are the future trends of the global electronic signature software market?

    High implementation of electronic signatures across SMEs is impacting positive impact, which is anticipated to play a significant role in the global electronic signature software market in the coming years.

    Which are the key players holding the major market share of the global electronic signature software market?

    The key players holding majority shares in the global electronic signature software market are Adobe Inc., Docusign, Inc., Esign Genie, HID Global, and Legalesign Limited.

    What is the incremental growth of the global electronic signature software market during the forecast period?

    The incremental growth expected to be recorded for the global electronic signature software market during the forecast period is US$ 32,311.99 million.

    What will be the market size of the global electronic signature software market by 2030?

    The global electronic signature software market is expected to reach US$ 35,707.44 million by 2030.

    Trends and growth analysis reports related to Technology, Media and Telecommunications : READ MORE..   


    The List of Companies - Electronic Signature Software Market

    1. Adobe Inc.
    2. Docusign, Inc.
    3. Esign Genie
    4. HID Global
    5. Legalesign Limited
    6. OneSpan
    7. RPost
    8. Thales S.A.
    9. U-SIGN-IT
    10. Zoho Corporation