US & Canada, March 24, 2025 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, Electronic Signature Software Market Size and Forecast (2022 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component, Deployment, Method, End User, and Geography”, the global electronic signature software market is observing healthy growth owing to increasing use of electronic signatures in e-commerce industry.
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The report runs an in-depth analysis of market trends, key players, and future opportunities. As businesses shift online and teams work from many places, the need for secure, quick, and legally binding methods of signing documents has become critical. Thus, with the flourishing e-commerce industry worldwide and the increasing use of digital signatures in the industry, the market is growing.
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Overview of Report Findings
Electronic Signature Software Market Growth: The electronic signature software market is expected to reach 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. 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 supported further by younger consumers, who are more accepting of digital signature solutions in their daily work lives. Consumer purchases, government bureaucracies, and business-to-business transactions, among others, have propelled the implementation and usage of electronic signatures, encouraged by favorable legislation as well as recognition in various key legal circles. Electronic signature solutions deliver the vital benefit of incorporating the current and existing business tools, including Microsoft, Google Docs, and Dropbox, among others. An enterprise can integrate internal applications into existing business processes across various divisions.
Growing Number of Green Initiatives: Humans have caused unprecedented levels of damage to the environment over the past years. By exploiting natural resources, generating enormous waste, and polluting the air and water, vastly approaching the point of no return. As a result of increased pressure from climate change and environmental organizations. Various governments across the globe are taking initiatives to encourage organizations to reduce their usage of paper. For instance, the UK government has set out a plan for the country to achieve net zero by 2050. This has increased pressure on businesses to monitor their carbon footprint and introduce ways to reduce their impact on the environment. This has led to businesses looking to adopt digital technologies that can enable businesses to become more sustainable. For instance, as of May 2020, the National Payment Corporation of India (NPCI) has mandated eSign-based e-mandate from June 1, 2020. Further, the Indian government's Digital India initiative, focused on encouraging the use of digital services by companies and individuals, allows digital signatures to sign government documents. Thus, the growing number of green initiatives fuels the market growth.
Growing Adoption of Cloud-Based Solutions in Banking Industry: The evolving architectures and advanced features of cloud platforms are boosting the adoption of cloud-based solutions in every industry vertical, including the BFSI sector. Presently, cloud-based electronic signature solutions are being adopted by various banks due to low initial investments and fast updates offered by these solutions, and this trend is anticipated to grow during the forecast period. With investment in cloud-based electronic signature solutions, banks are likely to reduce their operational costs and enhance customer experience, thus increasing productivity and revenues. The complexity and high investment of on-premise solutions are another reason that is boosting the demand for cloud-based electronic signature solutions. Also, governments of growing nations such as India and China are taking initiatives such as 'Digital India' and 'Made in China 2025 Initiative' respectively, to fuel the adoption of digital services by consumers and industries. Owing to all these positive developments related to the adoption of cloud-based digital signature solutions, the demand for the market is expected to bolster during the forecast period.
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High Implementation of Electronic Signatures Across SMEs: The adoption of electronic signatures provides an opportunity to automate tasks by integrating the software. This helps the SMEs in cost savings. It also helps save time and reduce errors, thereby improving work quality. Various players PandaDoc Inc. and Dropbox Sign across the globe are providing electronic signatures for SMEs. Thus, the high implementation of providers of electronic signatures for SMEs is expected to fuel the electronic signature software market growth in the coming years.
Geographical Insights: In 2022, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific, respectively. Asia Pacific is expected to register the highest CAGR during the forecast period.
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Electronic Signature Software Market Segmentation
- Based on component, the electronic signature software market is segmented into solution and services. The solution segment held the largest share in the electronic signature software market in 2022.
- Based on deployment, the electronic signature software market is segmented cloud and on-premise. The cloud segment held the largest share in the electronic signature software market in 2022.
- Based on method, the electronic signature software market is segmented into general electronic signature, qualified electronic signature, and advanced electronic signature. The qualified electronic signature segment held the largest share in the electronic signature software market in 2022.
- Based on end-user, the electronic signature software market is segmented into manufacturing, BFSI, pharmaceuticals, government agencies, legal, and others. The BFSI segment held the largest share in the electronic signature software market in 2022.
Key Players and Competitive Landscape:
The Electronic Signature Software Market is characterized by the presence of several major players, including:
- Adobe Inc.
- Docusign, Inc.
- Esign Genie
- HID Global
- Legalesign Limited
- OneSpan
- RPost
- Thales S.A.
- U-SIGN-IT
- Zoho Corporation
These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.
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Competitive Strategy and Development
- Key Players: A few of the major companies operating in the electronic signature software market are Adobe Inc.; Docusign, Inc.; Esign Genie; HID Global; Legalesign Limited; OneSpan; RPost; Thales S.A.; U-SIGN-IT; and Zoho Corporation.
- Source: https://www.theinsightpartners.com/reports/electronic-signature-software-market.
- Trending Topics: cloud signatures, digital signatures, etc.
Global Headlines on Electronic Signature Software Market
- Adobe Inc integrated its Acrobat Sign with Salesforce to help organizations to 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
- RPost announced the integration of its eSignature into the largest staffing & recruitment platform ‘Bullhorn
- DocuSign Inc. signed an agreement with Microsoft to expand their products and services portfolio including eSignature and CLM, to streamline e-signature and contract management workflows
- OneSpan Inc launched Quantum-Safe Blockchain Storage capabilities for its market-leading e-signature solution. Quantum-Safe Blockchain Storage helps organizations secure the most valuable digital agreements
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Conclusion
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 industries that are at the forefront of electronic signature software spending worldwide.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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