E-Signature Market Scope
An e-signature or electronic signature the legally valid and enforceable signature to get consent or approval on any digital document. These are followed for replacing the handwritten signature in the virtual platform. These signatures offer secure and precise identification to the signatory to provide a seamless transaction. The E-signature can be added to any document along with other annotations.
Attributes | Details |
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Study Period | 2019-2029 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Adobe Corporation (United States), DocuSign, Inc. (United States), SIGNiX (United States), SignRequest (Netherlands), PandaDoc (United States), Formstack (United States), Zegal (Hong Kong) and LunarPen Private Limited (India) |
CAGR | % |
The companies operating in these industries are focusing more towards on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focus on maintaining sustainable development. The leading providers are heavily focusing on securing an important position in this industry. They are continuously looking for the opportunity to reinforce their competitive advantage. To meet high market share, and developing socially responsible business company are identifying various strategic pillars such as mergers & acquisitions, new product launches, product enhancement, and others. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global E-Signature market throughout the predicted period.
Adobe Corporation (United States), DocuSign, Inc. (United States), SIGNiX (United States), SignRequest (Netherlands), PandaDoc (United States), Formstack (United States), Zegal (Hong Kong) and LunarPen Private Limited (India) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Zoho Sign (India), DocuSign (Singapore), Adobe Sign (Ireland) and SignWell (Sweden).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global E-Signature market by Type and Region with country level break-up.
On the basis of geography, the market of E-Signature has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In October 2023, Box, Inc., a leading content cloud management platform, announced plans to acquire SignRequest, a Dutch e-signature provider. This move strengthens Box's document workflow capabilities and offers its users a more integrated e-signature experience.
On 3rd February 2021, Box, Inc. announced that it has entered into a definitive agreement under which Box will acquire SignRequest, a cloud-based electronic signature company. Box also previewed Box Sign, an e-signature capability that will be developed on SignRequest’s technology and natively integrated into Box. Box Sign is expected to be included in Box business and enterprise plans, enabling customers to modernize the way they work and digitize important processes while ensuring their agreements can be securely managed and governed in the Box content cloud.
"In 2000, the EU accepted eSignatures as legally binding through the Directive on a Community framework for electronic signature (eSignature Directive). This confirmed that an electronic signature can’t be rejected just because it was created electronically. Many European countries share the UK’s approach of accepting contracts as legally binding without a handwritten signature. In 2015, EU legislation replaced the 2000 eSignature Directive with Regulation (EU), usually referred to as eIDAS. eIDAS stated that there are three types of eSignatures – SES, AES, and QES, just like in the UK."
Influencing Trend:
Automation in Contract Creation & Form Filling and Integration of Artificial Intelligence in E-Signature
Market Growth Drivers:
Growing Electronic Documentation in Every Business Reducing Paperwork and Need for Legally Valid and Enforceable Signatures on Digital Documents
Challenges:
Security concerns and Competition Between Major Players
Restraints:
Requirement of Software from Certification Authorities to Encrypt the File
Opportunities:
Introduction of Laws Concerning Digital Signing will Boost the E-signature and Rising Demand for E-signature in Developing Economies
Key Target Audience
E-Signature Solution Providers, E-Signature Industry Association, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others