The global e-signature market is estimated to be valued at USD 1,155.6 million in 2020 and is expected to reach USD 3,319.3 million by 2025, growing at CAGR of 23.5% during the forecast period (2020–2025). The market is driven by factors such as enhanced user experience and improved operational efficiency and increasing awareness regarding secure and controlled workflow. With the increasing acceptance of e-signatures as legal and secure increasing number of enterprises are adopting these solutions for their business transactions, thereby boosting the market growth, globally.
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Incidence of identity thefts and online frauds are increasing globally, therefore different organizations or enterprises are using e-signature solutions to ensure safe and secure transactions of their businesses. These solutions help these enterprises to maintain and improve an efficient and secure relationship with their customers. E-signature provide faster and secure validation of documents and communications by ensuring the identification of individuals.
The key types of e-signature market include public key infrastructure, clickwrap, signature pad at POS, voice signature, username & pin, and others. Of all types, public key infrastructure segment accounts for the largest share in the market.
On the basis of user case, the market is categorized into an unmediated, third party, mediated, and internal use case. The unmediated e-signature market size was the largest among all user case. The segment is also anticipated to grow at the fastest CAGR during the forecast period as unmediated user case are more user-friendly and faster to complete.
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North America accounted for the major share in the e-signature industry in 2019, globally as the players in the region are continuously investing capital for the implementation of digital solutions and thereby creating a need for electronic signature solutions. The U.S. is home to most of the major players worldwide, who have a strong presence within the country and globally. Asia-Pacific e-signature market is anticipated to grow at the fastest CAGR during the forecast period.
Adobe Systems Inc., Citrix Systems Inc., SIGNiX Inc., Docusign Inc., SSL Europa France SAS, Gemalto NV, Sertifi Inc. RPost and AssureSign LLC are some of the key players offering solutions and services for E-Signature. Key players in the e-signature industry are partnering or collaborating with other players to provide enhanced and efficient solutions and services.