E-Signature Market With the surging penetration of the internet, the preference for online documentation processes is growing rapidly. This is making governments encourage the adoption of the technologies that can authenticate online transactions.
New York, Aug. 18, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "E-Signature Market" - https://www.reportlinker.com/p05932792/?utm_source=GNW
Moreover, the rising demand for the smooth management of the supply chain, higher workflow efficiency, and security is fueling the need for digital authentication technologies. Due to these factors, the global e-signature market is expected to advance at a CAGR of 26.6% from 2021 to 2030 (forecast period) and reach $12,721.4 million revenue by 2030.
The COVID-19 pandemic has positively impacted the growth of various e-signature service and solution providers. Moreover, with the increasing adoption of remote working policies by companies, on account of the imposition of lockdowns and social distancing protocols, and the burgeoning requirement for secure online transactions and connectivity are driving the expansion of the e-signature market. Furthermore, the process of distributing signed PDF documents has made the procedure of in-person contract closing obsolete. During the age of COVID-19, the ‘new normal’ fuels the demand for e-signatures. For instance, the Federal Reserve Bank of New York, recently declared that it will now accept documents using e-signatures in some cases.
Based on type, the e-signature market is classified into username and PIN, public key infrastructure (PKI), clickwrap, signature pad at point of sale (POS), voice signature, and others. Out of these, the PKI category held the largest share in the market in 2020, on account of the fact that PKI solutions guarantee document and signer authenticity in a cost-effective and secure manner. These solutions comprise policies, standards, software, and hardware, which are rapidly becoming trusted entities for making sure that e-signatures are authenticated. Thus, with the increasing focus of businesses on adopting these solutions for improving cybersecurity, the PKI category will exhibit huge expansion.
The e-signature market is classified into service, hardware, and software, depending on component. Amongst these, the service category is predicted to exhibit the fastest growth during the forecast period. This is ascribed to the fact that the lack of awareness and technical skills for managing large-scale operations is propelling the demand for maintenance, consultancy, implementation, and cloud services.
Furthermore, the service category is divided into professional and managed services. Between these, the managed services category dominated the market in 2020, on account of the huge requirement for higher operational security and cost-savings among companies. In addition to this, these services also facilitate the implementation and monitoring of solutions.
Globally, the Asia-Pacific (APAC) e-signature market is predicted to demonstrate the fastest growth throughout the forecast period. This is attributed to the increasing adoption of digital services, surging online commerce activities, and growing user acceptance of online billing, payment facilities, and paperless transactions. Additionally, India is predicted to exhibit the fastest growth during the forecast period.
Entrust Datacard Corporation, Gemalto N.V., Secured Signing Limited, Citrix Systems Inc., DocVerify Inc., Zoho Corporation Pvt. Ltd., eSign Genie, IndenTrust Inc., SignaShare, RPost Communications Limited, Thales eSecurity Inc., GetAccept Inc., KeepSolid Inc., Ascertia Limited, Symtrax Holdings Inc., Adobe Inc., Glykka LLC, DocuSign Inc., and SIGNiX Inc. are some of the major e-signature market players.
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