Dublin, Nov. 24, 2022 (GLOBE NEWSWIRE) -- The "Europe E-Signature Market Insights by Component, Deployment Type, Type, Use Case, Vertical - Revenue Estimation and Demand Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The European e-signature market was valued at $711.8 million in 2021, which is expected to reach $10,504.7 million by 2030, at a compound annual growth rate of 34.9%
This is due to the favorable government legislations, growth in the popularity of remote working, increase in the number of online documentation procedures, and cost-effectiveness of e-signatures.
To gain a prominent foothold in the Europe e-signature market, players have been busy releasing new solutions. These market players are Dropbox Inc., OneSpan Inc., PandaDoc Inc., Citrix Systems Inc., Foxit Corporation, airSlate Inc., Formstack LLC, Entrust Corporation, Adobe Inc., Thales Group, and DocuSign Inc.
The BFSI category holds over 40% share in the Europe e-signature market, and it is expected to maintain its position in the future. The BFSI vertical emphasizes analyzing digital preferences, consumer behavior, and choices due to the growing need for customer-centric business solutions. BFSI organizations benefit from these signatures since they improve security and speed up customer onboarding.
Documentation procedures in companies and institutions are becoming rapidly digitized as a result of the strong government support for digitalization. Furthermore, as cloud computing has become more widely adopted, businesses and consumers have been able to perform online tasks, thus creating the requirement for identification and authorization from both sides.
Key Findings of Europe E-Signature Market Report
- Foxit Corporation, a developer of advanced PDF products and services, introduced the Foxit eSign platform in May 2022. This service provides a complete, secure e-sign process and is legally binding.
- PandaDoc Inc. released PandaDoc Developers in September 2021, allowing developers to create and connect unique document processes and e-signature features into their services, products, and websites with ease.
- In 2021, the U.K. dominated the market with around 20% share. This was mostly due to the growing usage of e-signatures for online identification in the country, which is becoming extremely important as more services move online.
- The PKI category accounts for over 40% share of the Europe e-signature market. This is because it is a standard-based solution that lets developers pick their preferred trust providers and does not require a third-party authentication server to be active.
- In the coming years, the European e-signature service market is predicted to grow at a significant CAGR. This may be attributed to the advantages related services provide to firms, such as reducing the procedure time from days to hours.
- The government sector is the second-largest vertical category in the market. This is because government agencies have been employing e-signature software and tools to make their operations digital.
| Report Attribute | Details |
| No. of Pages | 274 |
| Forecast Period | 2021 - 2030 |
| Estimated Market Value (USD) in 2021 | $711.8 Million |
| Forecasted Market Value (USD) by 2030 | $10504.7 Million |
| Compound Annual Growth Rate | 34.9% |
| Regions Covered | Europe |
Market Dynamics
Trends
- Increasing penetration of e-signatures in SMEs
- Increasing adoption of e-signature solutions based on SaaS delivery model
- Increasing use of e-signatures in BFSI sector
Drivers
- Rising prevalence of remote working
- Favorable government laws and regulations for e-signature adoption
- Increasing volume of online documentation processes
- Cost-effectiveness of e-signatures
- Impact analysis of drivers on market forecast
Restraints
- Growing number of cyberattacks
- Impact analysis of restraints on market forecast
Opportunities
- Rising demand for cloud-based e-signature software
- Growing e-business sector across Europe
Impact of COVID-19
- European Scenario of COVID-19 Impact
- COVID-19 Impact on Europe E-Signature Market
Porter's Five Forces Analysis
Company Profiles
- DocuSign Inc.
- Adobe Inc.
- Thales Group
- Entrust Corporation
- airSlate Inc.
- Formstack LLC
- Foxit Corporation
- PandaDoc Inc.
- Citrix Systems Inc.
- OneSpan Inc.
- Odoo SA
- Box Inc.
- Dropbox Inc.
- Eversign (Stack Holdings GmbH)
- Nitro Software Inc.
Definition of Market Segments
By Type
- PKI
- Username and PIN
- Signature pad at POS
- Clickwrap
- Voices signature
- Others
By Component
- Software
- Hardware
- Service
- Managed
- Professional
By Deployment Type
- Cloud
- On-premises
By Use Case
- Unmediated
- Mediated
- Third party
- Internal
By Vertical
- Government
- BFSI
- IT & telecom
- Healthcare
- Legal
- Others
For more information about this report visit https://www.researchandmarkets.com/r/qvv0qy
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