The global electronic signature software market was valued at US$ 1.6 billion in 2021 and it is anticipated to grow up to US$ 9.9 billion by 2031, at a CAGR of 19.7% during the forecast period.
Global Electronic Signature Software Market report from Global Insight Services is the single authoritative source of intelligence on Electronic Signature Software Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
An electronic signature is a replacement for a handwritten signature. Electronic signature software allows users to gather signatures on documents shared electronically, eliminating the need for physical documents to record signatures. Electronic signature software facilitates the distribution of legally sensitive documents for collecting electronic signatures. Organizations use electronic signature software to encrypt documents, such as sales contracts or employment paperwork, for which client, employee, or partner signatures are often required. Electronic signature software integrates with third-party applications, including ERP systems, CRM software, and HR management suites, to facilitate contract and supplier management efforts.
Request Sample Report : https://www.globalinsightservices.com/request-sample/GIS10395
Market Drivers and Trends
Nowadays, governments, corporate offices, and enterprises are moving towards paperless workflows. Paperless business processes are always beneficial for the environment. Several offices started using electronic documentation, saving a massive amount of paper. Moving to paperless document processes has reduced operational costs, improved operational efficiency, and fastened decision-making processes.
Governments and businesses from BFSI, manufacturing, pharmaceuticals, government agencies, and legal verticals utilize digital signatures to secure digital documents. The electronic documentation tool requires documents to be signed for authentication using e-signatures (electronic signatures). E-signatures are inserted in electronic documents and are shared electronically over the network. These signatures can seamlessly integrate with business applications without bringing out any major changes in the existing workflow. Further, governments and enterprises are investing more in integrating digital signature technology with daily business applications, which boosts the global digital signature market growth.
Market Restraints and Challenges
In the modern era, all business processes are done electronically, including document creation, formatting, editing, sharing, and storage. However, most users will prefer to stick with the traditional wet-ink-based method when it comes to signing. This is due to several users still viewing digital signatures as untested, illegal, and new. Most users have never executed e-signatures. Hence, users don’t want to take a risk with anything as new as an e-signature. An electronic signature is mostly used by the telecommunication sector and the BFSI sector on a mass scale. The digital signature technology is moving ahead, whereas the legislation is lagging. To keep pace with technology and accept electronic document processes, governments and enterprises should organize digital signature awareness programs. There must be provisions made by legal authorities of countries to spread awareness related to the legal acceptance and benefits of digital signature, as compared to the traditional signature. Thus, a lack of awareness about the legality of electronic signatures is acting as a restraining factor for the global electronic signature software market.
Buy Now : https://www.globalinsightservices.com/checkout/single_user/GIS10395
Global Electronic Signature Software Market Segmentation
By Component
- Solutions
- Services
By Deployment Type
- On-Premise
- Cloud-Based
Major Players in the Global Electronic Signature Software Market
The key players studied in the global electronic signature software market are Adobe Inc. (US), Ascertia (UK), Docusign, Inc. (US), Foxit eSign (US), HID Global Corporation (US), Legalesign Limited (UK), OneSpan (US), RPost (US), Thales Group (France), and Zoho Corporation Pvt. Ltd. (India).
COVID-19 Impact
In 2020, the COVID-19 pandemic had been a major challenge in business functioning. Governments of several nations had imposed lockdowns to curb the spread of the disease. Hence, organizations are adopting electronic signature software to simplify the process, and important documents are getting signed without delay or constraints. Due to COVID-19, the electronic signature software market has grown due to increased use cases from existing and new customers. Further, with the adoption of e-signatures, organizations and business enterprises were able to maximize their operational productivity and efficiency, as with e-signatures, organizations had to spend less on paper, printing, and postage costs while being faster than traditional methods. Moreover, with the advent of a global COVD-19 pandemic, most corporations embraced the work-from-home model to maintain their productivity.
Request For Customization : https://www.globalinsightservices.com/request-customization/GIS10395
With Global Insight Services, you receive:
• 10-year forecast to help you make strategic decisions
• In-depth segmentation which can be customized as per your requirements
• Free consultation with lead analyst of the report
• Excel data pack included with all report purchases
• Robust and transparent research methodology
About Global Insight Services:
Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.
Contact Us:
Global Insight Services LLC
16192, Coastal Highway, Lewes DE 19958
E-mail: [email protected]
Phone: +1-833-761-1700
Website: https://www.globalinsightservices.com/