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E-Signature Software Market

E-Signature Software Market Size, Share & Segmentation by Component (Hardware, Software, and Services), by Deployment Model (On-premises and Cloud), by Industry Vertical (BFSI, Education, Human resource, IT & telecommunication, Government, Healthcare & life science, Real estate, Others), by Regions and Global Market Forecast 2022-2028

Report Id: SNS/ICT/1341 | May 2022 | Region: Global | 130 Pages

Report Scope & Overview:

The E-Signature Software Market size was valued at USD 3.79 Bn in 2021 and is expected to reach USD 25.77 Bn by 2028, and grow at a CAGR of 31.46% over the forecast period 2022-2028.

E-Signature is a mathematical approach for verifying digital documents such as PDF files, Word files, and online legal contract papers using an encoded and electronic stamp. It aids in the resolution of the impression and tempering problems in digital communication. It contains all of the information about a digital document that allows users to quickly and readily determine the source, identity, and status of the document. The principle of cryptography technology is used to run an E-signature. Organizations may now share business papers and legal contracts with less danger thanks to appropriate authentication. To support the rising digital enterprises, e-signature provides safe and verifiable transactions.

E-Signature Software Market

Encryption is used to safeguard electronic documents at the sender's end. The recipient is given an E-signature that allows him to decode the contents of the document. Software, digital documents, and electronic messages are all validated and authenticated using the E- signature approach. Physical papers are verified using handwritten signatures. E-signatures, like e-mails, word documents, and portable document formats, are used to validate and assent to the content of digital documents. Encryption and decryption procedures are required for an E-signature. The sender can use an E-signature to verify the validity of a digital document. There are considerable risks of fraud or document tampering in the process of financial transactions or document dissemination over the world, necessitating the use of E-signatures. E-signatures lessen the chances of papers being tampered with, diverted, or intercepted while in route. An electronic document signed using an E-signature is just as legitimate as any other signed paper document and can be produced in court.

MARKET DYNAMICS:

KEY DRIVERS:

  • As a result of the green movement, governments, corporate offices, and businesses are moving toward complete or partly paperless operations.

  • The use of paperless document procedures has resulted in increased operational efficiency.

  • The decision-making procedures were sped up and operating expenses were decreased.

RESTRAINTS:

  • Electronic signatures have never been used by the majority of users. They aren't willing to take any risks.

  • Lack of knowledge about the legal recognition and benefits of electronic signatures.

OPPORTUNITY:

  • Mobile and internet-connected gadget usage is on the rise.

  • Demand for cloud-based security technologies and solutions is increasing.

  • A cloud-based endpoint security solution can help you get a better return on your investment.

CHALLENGES:

  • The lack of trust and the simplicity with which it may be implemented

  • Its legality is a source of misunderstanding and ignorance.

IMPACT OF COVID-19:

The COVID-19 outbreak had a significant impact on the E-signature market's growth, owing to the adoption of E-signatures, which allowed organizations and businesses to increase their operational productivity and efficiency by spending less money on paper, printing, and postage while being faster than traditional methods. During the COVID-19 epidemic, this further aided the growth of the E-signature business. Furthermore, in the event of a worldwide pandemic, the majority of businesses adopted a work-from-home approach to preserve production.

MARKET ESTIMATION:

Based on component hardware, software, and services, the market is segmented into three segments. The software is projected to outperform the competition. The software segment is anticipated to be driven by its capacity to provide immediate electronic signature conversion. Software use is projected to increase as the paperless work process becomes more widely adopted. Similarly, due to increased demand for the solution, managed services and professional services are expected to develop dramatically.

On the basis of deployment, the electronic signature software industry is divided into two categories: on-premise and cloud. Companies that are using electronic signature solutions are focused on cloud-based solutions in order to get more flexibility, scalability, and cost savings. The movement in business paradigms toward digitization has resulted in more substantial benefits for firms and increased revenue generation potential. The emergence of cloud solutions, which provide both economical and free subscription-based models with rapid setup, is driving this trend. However, as people become more reliant on the cloud, cyber-attacks have become more common. As a result, electronic signature software market companies are expected to gain considerable market share throughout the world.

The market is divided into BFSI, Human Resources and Legal, Government & Defense, Manufacturing & Retail, Healthcare, and Others, based on the end-user. Because of the quick transition toward the digital platform to deliver simplified services to its clients, the BFSI industry is predicted to rise at an exponential rate. This has aided in the industry's sales growth. Similarly, electronic signatures are enhancing consumer and employee happiness in the retail business. During the projected period, the rising trend of e-governance across nations is expected to boost market growth. Similarly, for medical documentation and payment invoicing, healthcare is increasingly embracing digital methods.

KEY SEGMENTS:

On The Basis of Component

  • Hardware

  • Software

  • Services

On The Basis of Deployment Model

  • On-premises

  • Cloud

On The Basis of Industry Vertical

  • BFSI

  • Education

  • Human resource

  • IT & telecommunication

  • Government

  • Healthcare & life science

  • Real estate

  • Others

E-Signature Software Market

REGIONAL ANALYSIS:

North America is one of the most advanced areas in terms of IT usage, with most multinational and small-scale businesses based there. Companies are increasingly investing a substantial amount to data security in their budgets as a result of increased worries about the safety of essential IT infrastructure and sensitive data. The expansion of the worldwide digital signature market has been fueled by government regulations for protecting electronic documents and the benefits of adopting digital signatures in the United States and Canada. North America accounted for the highest proportion of the global digital signature market in 2020. The BFSI and legal industries, as well as the government and healthcare sectors, have seen tremendous development in the United States and Canada.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

KEY PLAYERS:

The major kay players are Adobe Inc., Docusign, Inc., Esign Geni, HID Global, Legalesign Limited, OneSpan, RPost, Thales S.A., U-SIGN-IT, Zoho Corporation.

E-Signature Software Market Report Scope:
Report Attributes Details
Market Size in 2021  US$ 3.79 Bn
Market Size by 2028  US$ 25.77 Bn
CAGR   CAGR of 31.46% From 2022 to 2028
Base Year 2021
Forecast Period  2022-2028
Historical Data  2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • by Component (Hardware, Software, and Services)
• by Deployment Model (On-premises and Cloud)
• by Industry Vertical (BFSI, Education, Human resource, IT & telecommunication, Government, Healthcare & life science, Real estate, Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Adobe Inc., Docusign, Inc., Esign Geni, HID Global, Legalesign Limited, OneSpan, RPost, Thales S.A., U-SIGN-IT, Zoho Corporation.
Key Drivers • The use of paperless document procedures has resulted in increased operational efficiency.
• The decision-making procedures were sped up and operating expenses were decreased.
Market Opportunities • Mobile and internet-connected gadget usage is on the rise.
• Demand for cloud-based security technologies and solutions is increasing.

 


Frequently Asked Questions (FAQ) :

Ans:-  The forecast period of the E-Signature Software Market is 2022-2028.

Ans:-  Lack of knowledge about the legal recognition and benefits of electronic signatures.

Ans:- North America accounted for the largest market share of the global digital signature market. 

Ans:- The major kay players are Adobe Inc., Docusign, Inc., Esign Geni, HID Global, Legalesign Limited, OneSpan, RPost, Thales S.A., U-SIGN-IT, Zoho Corporation.

 

Ans:- The study includes a comprehensive analysis of worldwide E-Signature Software Market trends, as well as present and future market forecasts,Porter's five forces analysis aids, study of buyer and supplier potential , competitive landscape etc.

 


Table of Contents

 

1. Introduction

1.1 Market Definition 

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges 

 

4. Impact Analysis

    1. COVID 19 Impact Analysis

4.2 Impact of the Ukraine- Russia war

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7. PEST Analysis

 

8. Market Segmentation, by Component

8.1 Hardware

8.2 Software

8.3 Services

 

9. Market Segmentation, by Deployment Model

9.1 On-premises

9.2 Cloud

 

10. Market Segmentation, by Industry Vertical

10.1 BFSI

10.2 Education

10.3 Human resource

10.4 IT & telecommunication

10.5 Government

10.6 Healthcare & life science

10.7 Real estate

10.8 Others

 

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2 Canada

11.2.3 Mexico

11.3 Europe

11.3.1 Germany

11.3.2 UK

11.3.3 France

11.3.4 Italy

11.3.5 Spain

11.3.6 The Netherlands

11.3.7 Rest of Europe

11.4 Asia-Pacific

11.4.1 Japan

11.4.2 South Korea

11.4.3 China

11.4.4 India

11.4.5 Australia

11.4.6 Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1 Israel

11.5.2 UAE

11.5.3 South Africa

11.5.4 Rest

11.6 Latin America

11.6.1 Brazil

11.6.2 Argentina

11.6.3 Rest of Latin America

 

12. Company Profiles

12.1 Adobe Inc.

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 Docusign, Inc.

12.3 Esign Geni

12.4 HID Global

12.5 Legalesign Limited

12.6 OneSpan

12.7 RPost

12.8 Thales S.A.

12.9 U-SIGN-IT

12.10 Zoho Corporation

 

13. Competitive Landscape

13.1 Competitive Benchmarking

13.2 Market Share analysis

13.3 Recent Developments

 

14. Conclusion

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Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

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