Growing adoption of cloud-based solutions in the banking industry provide growth opportunities for electronic signature software market

 

Latest market study on "Electronic Signature Software Market to 2027 by Deployment (On Premise and On Cloud); Method (General Electronic Signature, Qualified Electronic Signature, and Enhanced Electronic Signature); Offerings (Solutions and Service); End-user Industry (Manufacturing, BFSI, Pharmaceuticals, Government Agencies, Legal, and Others); - Global Analysis and Forecast", the electronic signature software market is estimated to reach US$ 5,639.48 Mn by 2027 from US$ 853.75 Mn in 2018. The report includes a key understanding of the driving factors of this growth and also highlights the prominent players in the market and their developments.

 

Today, technology’s innovative solutions are helping technology companies across the world to accelerate their digital transformation adoption. From the past few years, the technology industry observed high growth and a dramatic increase worldwide. Factors such as technological innovations, economic growth, and IT spending influence technology industry dynamics considerably. The global economy is anticipated to stabilize and grow at a steady speed in the coming years, mostly driven by emerging economies such as China, India, and Brazil. Enterprises and new developing markets are expected to invest in the technology market to build IT infrastructure that would help reduce costs and enhance business productivity. The rising need for digitilization in industries is expected to create new opportunities for the global electronic signature software market during the forecasted period.

 

In Europe also, 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 are 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.. Such above mentioned factors is expected to fuel the growth of electronic signature software market in Europe.

 

APAC is also expected to be the fastest-growing region in the global electronic signature software market during the forecast period. The growing threat of cybercrime in the region is also majorly because of the lack of transparency resulting in weak cyber enforcements and regulations by the government authorities. Less awareness and investments in the security industry also contribute to the factors hindering the electronic signature software market in the region. In the Asia Pacific region, the adoption of technology is on the rise. Also, there is an increase in the demand for security solutions. To avoid Denial-of-service (DDoS) attacks that might bring down operations in significant industry verticals such as BFSI and government, and others would require to adopt the electronic signature technology. The presence of these industries is anticipated to influence the electronic signature software market positively.

 

The global market for electronic signature software market is segmented based on the parameters such as deployment, method, offerings, end user industry, and geography. Based on deployment, the cloud segment dominates the electronic signature software market heavily and is expected to dominate the market in the forecast period from 2019 – 2027. On the basis of offerings, solutions segment led the market in 2018 with a maximum market share and is expected to continue its dominance during the forecast period. Further, based on method, qualified electronic signature segment led the market with the maximum market share. Furthermore, on the basis of end-user industry, BFSI segment led the market with highest market share. Key players operating in the market are partnering with the small as well as large and other companies which are helping them to gain customer traction. The major companies offering electronic signature software market include Adobe Inc., Docusign, Inc., Esign Genie, HID Global, Legalesign Limited, OneSpan, RPost, Thales S.A., U-SIGN-IT, and Zoho Corporation among others among others. Several other companies are also offering these electronic signature software for various manufacturers, which is facilitating the market to propel over the years.

 

         Electronic Signature Software Market - Region Breakdown, 2018

The report segments the global electronic signature software market as follows:

Global Electronic Signature Software Market – By Deployment

  • On-Premise
  • Cloud

Global Electronic Signature Software Market – By Method

  • General Electronic Signature
  • Qualified Electronic Signature
  • Enhanced Electronic Signature

Global Electronic Signature Software Market – By Offerings

  • Solution
  • Service

 

Global Electronic Signature Software Market – By End-user Industry

  • Manufacturing
  • BFSI
  • Pharmaceuticals
  • Government Agencies
  • Legal
  • Others

 

Global Technical Illustration Software Market - By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • Russia
    • UK
    • Rest of Europe
  • Asia Pacific (APAC)
    • Australia
    • China
    • India
    • Japan
    • Rest of APAC
  • Middle East & Africa (MEA)
    • South Africa
    • UAE
    • Saudi Arabia
    • Rest of MEA
  • South America (SAM)
    • Brazil
    • Rest of SAM

 

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