New York, United States, June 30, 2022 (GLOBE NEWSWIRE) -- Digital signatures are used in many areas to help the government with its work. In November 2020, ERA Realty Network, a real estate company, started using digital signatures for tenant agreements. This saved time for its agents, who would have had to meet with property owners in person to get signatures in wet ink. This should help people who own property overseas and make it easier for agents to serve clients during the COVID-19 pandemic with less physical contact.
The Government Technology Agency (GovTech) did a service called "sign pass" that lets businesses securely check electronic signatures. Legal and business documents that used to have to be signed in person can now be signed online with this service. Streamlining digital transactions is a big part of digitizing business, and the digital signature market is ripe for disruption. Several companies have bought digital signature companies that work in the cloud in order to digitize important processes.
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Rise in E-signatures and Adoption of Cloud-based Services Performing Key Drivers for the Digital Signature Market Growth
E-signatures offer more than just convenience, along with several other benefits. E-signatures can help businesses of all sizes eliminate paperwork bottlenecks and save time and money. E-signature solutions digitize documents more efficiently than pen-and-paper. It helps many industries go paperless, which improves their businesses, makes more money and delights customers. Using these solutions in real estate gives agents and brokers mobile contract-making tools.
Cloud-based solutions are the newest business technology. Cloud-based solutions aim to digitally manage business transactions involving important documents and data. Digital solutions allow employees at different levels to send and receive documents, share information, and collaborate on projects. A cloud-based solution improves business operations and employee productivity, whether they work in-office, remotely, or from home.
E-signature and cloud service providers are also collaborating heavily.
Signaturit and Ivnosys partnered to offer e-signature software in Spain in April 2021. IvSign, Ivnosys' cloud platform, manages and signs digital certificates. Signaturit, a cloud-based e-signature platform, and Ivnosys' digital signature solutions form a SaaS company. These advances in the global digital signature market are proving to be the major driving factors for the market.
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Technological Improvements in the Digital Signature Market Create Huge Opportunities in the Market
Most of the players in the digital signature market come from both inside and outside of the United States. Companies also have a long-term advantage in the market when they improve their technology. Owing to things like the cloud, market trends are changing. Big companies have a big effect on the market when it comes to R&D and consolidation. Two things that can be said about the market are that it has a high market penetration and that it is getting more and more split up.
The most important thing that affects the market is how people feel about the companies and brands. Strong brands are often associated with better solutions, so companies that have been around for a long time are likely to have the upper hand. The big tech companies that have been around for a long time have an advantage over their new competitors because of their distribution channels, business relationships, and innovative platforms.
Overall, there is likely to be a lot of competition between vendors, and it is likely to get worse over the next few years, which is why there is the possibility of entering the market with a unique and out of the box technology in the digital signature market that will create a revolution in the industry.
Regional Analysis of the Global Digital Signature Market –
The global digital signature market is primarily divided into three regions, namely -North America, Europe, and Asia-Pacific, where Asia-Pacific is the leading region among the others with the major market share.
North America –
North America has been one of the highest-earning markets, mostly because more companies are switching to cloud-based solutions, mobile use is growing quickly, and there are a lot of big players with a lot of market share. This is why the region's market is worth USD 1 billion in 2021 and is expected to grow at USD 10 billion by 2030 at a CAGR of 25%.
Europe –
During the UK's COVID-19 stay-at-home period, the number of digital signatures went up. Due to the need for physical distance, many pre-pandemic processes switched to e-signatures. Real estate deals, sales contracts, and bringing on new employees are all examples. Now that people are used to e-signatures and businesses trust them, their use is likely to continue and grow. This is why the Europe region has a large market value of USD 1 billion in 2021 and growing to USD 10 billion by 2030 at a CAGR of 27%.
Asia-Pacific –
The Asia-Pacific region is the one with the most growth. With emerging economies like India, China, and Japan, this region has the biggest share of the global digital signature market, which will be worth USD 1 billion in 2021. It is expected to reach USD 12 billion by 2030 at a CAGR of 32%.
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Key Highlights –
- The global digital signature market was valued at USD 4.4 billion in 2021 and is expected to grow by USD 42 billion by 2030. The market is expected to grow at a CAGR of 28% during the forecast period (2022–2030).
- By deployment, the cloud services segment dominate the global market with a value of USD 2 billion in 2021 and is expected to reach USD 24 billion by 2030 at a CAGR of 31%.
- The software segment dominated the global market with a market value of USD 2 billion in 2021 and is expected to reach USD 14 billion by 2030 at a CAGR of 28%.
- Asia-Pacific is the leading region in the global digital signature market which has an overall market revenue of USD 1 billion in 2021. It is expected to reach USD 12 billion by 2030 at a CAGR of 32%.
Competitive Players in the Global Digital Signature Market –
The major key players in the global digital signature market are –
- SunGard Signix Inc.
- DocuSign
- Silanis-eSignLive
- Thales Group
- ePadLink
- Topaz Systems
- Ascertia
Global Digital Signature Market: Segmentation
By Deployment
- On-Premise
- Cloud
By Offering
- Software
- Hardware
- Service
By Region
- North America
- Europe
- Asia-Pacific
TABLE OF CONTENT
1 Introduction
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions & Exclusions
2.4 Secondary Data Sources
3 Executive Summary
4 Market Overview
4.1 Report Segmentation & Scope
4.2 Value Chain Analysis: Digital Signature Market
4.2.1 Vendor Matrix
4.3 Key Market Trends
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Environment & Regulatory Landscape
4.6 Forecast Factors & Relevance of Impact
4.7 Macro-Economic & Geopolitical Scenario
4.8 Parent Market Overview
4.9 Technology Landscape
4.10 Market Share Analysis
4.11 Potential Venture Analysis
4.12 Regional Price Trends
4.13 Raw Material Trends
4.14 Cost Structure Analysis
4.14.1 Labor Cost
4.14.2 Consumables
4.14.3 Maintenance Cost
4.15 Covid-19 Impact Analysis:
4.15.1 Pre and Post Covid-19 Market Scenario Analysis
4.15.2 Market Recovery Timeline and Challenge
4.15.3 Measures Taken by Top Players
4.15.4 Quarterly Market Revenue and Growth Forecast till 2021
4.15.4.1 North America
4.15.4.2 Europe
4.15.4.3 Asia-Pacific
4.15.4.4 Central and South America and the Caribbean
4.15.4.5 The Middle East and Africa
5 Deployment Overview
5.1 Introduction
5.1.1 Market Size & Forecast (Value & Volume)
5.2 On-Premise
5.2.1 Market Size & Forecast (Value & Volume)
5.3 Cloud
5.3.1 Market Size & Forecast (Value & Volume)
6 Offering Overview
6.1 Introduction
6.1.1 Market Size & Forecast (Value & Volume)
6.2 Software
6.2.1 Market Size & Forecast (Value & Volume)
6.3 Hardware
6.3.1 Market Size & Forecast (Value & Volume)
7 Regional Overview
7.1 Introduction
7.1.1 Market Size & Forecast (Value & Volume)
7.2 North America
7.2.1 Economic Overview
7.2.2 Market Scenario
7.2.3 U.S.
7.2.4 Canada
7.2.5 Mexico
7.3 Central and South America and the Caribbean
7.3.1 Economic Overview
7.3.2 Market Scenario
7.3.3 Brazil
7.3.4 Argentina
7.3.5 Colombia
7.3.6 Rest of Central and South America and the Caribbean
7.4 Europe
7.4.1 Economic Overview
7.4.2 Market Scenario
7.4.3 Germany
7.4.4 France
7.4.5 The U.K.
7.4.6 Italy
7.4.7 The Rest Of Europe
7.5 Asia-Pacific (APAC)
7.5.1 Economic Overview
7.5.2 Market Scenario
7.5.3 China
7.5.4 Japan
7.5.5 India
7.5.6 Australia
7.5.7 South Korea
7.5.8 Rest Of APAC
7.6 Middle East
7.6.1 Economic Overview
7.6.2 Market Scenario
7.6.3 South Arabia
7.6.4 The UAE
7.6.5 Qatar
7.6.6 Oman
7.6.7 Turkey
7.6.8 The Rest Of Middle East
7.7 Africa
7.7.1 Economic Overview
7.7.2 Market Scenario
7.7.3 Nigeria
7.7.4 South Africa
7.7.5 The Rest Of Africa
8 Competitive Landscape — Manufacturers & Suppliers
8.1 Competition Dashboard
8.2 Industry Structure
8.3 SunGard Signix Inc
8.3.1 Business Overview
8.3.2 Financial Performance
8.3.3 Recent Developments
8.3.4 Portfolio
8.4 DocuSign
8.5 Silanis-eSignLive
8.6 Thales Group
8.7 ePadLink
8.8 Topaz Systems
8.9 Ascertia
9 Conclusion & Recommendation
10 Acronyms & Abbreviations
Read the full Report Description with Table of Content and Figure @ https://straitsresearch.com/report/digital-signature-market/toc
Market News –
- In March 2022, SunGard Signix Inc upgraded its signature software SIGNIX with new features that enable people to upload their own personal digital signature and use it remotely.
- In April 2022, DocuSign introduced CLM essentials to make simplification in agreements for growing business.
- In May 2022, Thales Group signed an agreement with Sonae Investment Management to acquire S21sec and Excelium to reinforce its cybersecurity activities.
News Media
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