Electronic Signature Software Market | CAGR 34.2% by 2030
[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.
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Electronic Signature Software Market: Strategic Insights
Electronic Signature Software Market
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CAGR (2022 - 2030)
34.2%
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Market Size 2022
US$ 3.3 Billion
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Market Size 2030
US$ 35.7 Billion
Market Dynamics
GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players
- Adobe Inc
- Docusign Inc
- Esign Genie
- HID Global
- Legalesign Limited
- OneSpan
- RPost
- Thales S A
- U SIGN IT
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Component
- Solution
- Services
Deployment
- Cloud and On-premise
Method
- General Electronic Signature
- Qualified Electronic Signature
- Advanced Electronic Signature
End-User
- Manufacturing
- BFSI
- Pharmaceuticals
- Government Agencies
- Legal
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Electronic Signature Software Market: Strategic Insights
-
CAGR (2022 - 2030)34.2% -
Market Size 2022
US$ 3.3 Billion -
Market Size 2030
US$ 35.7 Billion
Market Dynamics
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
Key Players
- Adobe Inc
- Docusign Inc
- Esign Genie
- HID Global
- Legalesign Limited
- OneSpan
- RPost
- Thales S A
- U SIGN IT
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- Solution
- Services
- Cloud and On-premise
- General Electronic Signature
- Qualified Electronic Signature
- Advanced Electronic Signature
- Manufacturing
- BFSI
- Pharmaceuticals
- Government Agencies
- Legal
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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 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
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Attribute | Details |
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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
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Regions and Countries Covered | North America
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Market leaders and key company profiles |
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Deployment, Method, and End-User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
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.
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.
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.
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.
The incremental growth expected to be recorded for the global electronic signature software market during the forecast period is US$ 32,311.99 million.
The global electronic signature software market is expected to reach US$ 35,707.44 million by 2030.
The List of Companies - Electronic Signature Software Market
- Adobe Inc.
- Docusign, Inc.
- Esign Genie
- HID Global
- Legalesign Limited
- OneSpan
- RPost
- Thales S.A.
- U-SIGN-IT
- Zoho Corporation