The global e-signature market size was US$ 1,527.2 million in 2021. The global e-signature market is forecast to reach the value of US$ 8872.3 million by 2030 by registering a compound annual growth rate (CAGR) of 21.5% during the forecast period from 2022-2030.
Factors Influencing
- Benefits like secure and controlled workflow, better user experience, and operational efficiency are fueling the growth of the global e-signature market.
- The rising cases of identity thefts and frauds are forecast to propel the growth of the global e-signature market.
- The growing demand for end-to-end customer relationships and safety for daily transactions is forecast to drive the growth of the global e-signature market during the study timeframe.
- The time efficiency of e-signatures is forecast the offer significant growth opportunities to the market players. E-signature validates the user rapidly. Moreover, it also provides the secure transfer of documents. Thus, the global e-signature market growth would accelerate during the forecast period.
- Governments' regulations and trending digitalization across all verticals would propel the e-signature market growth.
- The expansion of traditional business practices may hamper the growth of the global e-signature market during the forecast period.
- Growing partnerships and collaborations in the e-signature industry are forecast to fuel the market growth. In 2018, DocuSign acquired SpringCM to expand its reach beyond electronic signatures and offer advanced solutions to end-users.
Geographic Analysis
Regionally, North America is forecast to present the largest e-signature market due to the increasing internet penetration across all verticals. Moreover, the growing online business practices would offer significant growth opportunities to the market players in the global e-signature market. Among all nations, the United States accounts for the largest share in North America's e-signature market due to growing digitalization. The Asia-Pacific region is forecast to grow significantly due to the increasing penetration of digital technologies. Moreover, rising cases of identity thefts and other frauds would fuel the growth of the Asia-Pacific e-signature market. In addition, industry players would witness immense growth opportunities, mainly in the e-commerce domain in the region.
COVID-19 Impact Analysis
The COVID-19 pandemic surged the demand for e-signatures. Due to the stringent regulations, various companies adopted digital solutions to continue their operations. It became necessary to save the files from fraud. Thus, the adoption of e-signatures rapidly grew during the pandemic period. The rising number of fraudulent activities mandated the use of efficient solutions. Moreover, it became necessary to ensure safe data sharing. As a result, the demand for e-signatures surged from all industries.
Competitors in the Market
- Adobe Systems Inc.
- Citrix Systems Inc
- SIGNiX Inc
- Docusign Inc.
- SSL Europa France SAS
- Gemalto NV
- Sertifi Inc.
- RPost
- AssureSign LLC
- Other prominent players
Market Segmentation
Based on Component
- Software
- Hardware
- Service
- Managed
- Professional
Based on Deployment Type
Based on Type
- Public Key Infrastructure (PKI)
- Username and Pin
- Signature Pad at POS
- Clickwrap
- Voices Signature
Based on Use Case
- Unmediated
- Mediated
- Third-Party
- Internal
Based on Vertical
- Banking, Financial Services, and Insurance (BFSI)
- Government
- IT & Telecom
- Healthcare
- Legal
Based on Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
