Global E-Signature Market Global Industry Demand, Size, Growth Research Report by 2024

The global e-signature market size is expected to reach USD 12.1 billion by 2024, with a CAGR of 32.3% during the forecast period (2018 – 2024). The major factors leading to the considerable growth in the e-signature market are the mounting need for security and efficiency in documentation and operations and increasing online transaction in BFSI industry. Also, with the increasing identity thefts and online frauds, the need to use electronic signature solutions to retain and improve online service experience for customers is increasing rapidly, across the globe.

Market Segmentation

1) Insight by Type
Based on type, the e-signature market is categorized into:
• Public Key Infrastructure
• Clickwrap
• Signature Pad at POS
• Voice Signature
• Username & Pin
• Others

Of all, public key infrastructure segment holds the largest share in the market. The segment has the largest market size as public key infrastructure facilitates secure and encrypted transfer of information for different activities ranging from e-commerce to online banking. The technology also provides authentic communication and among different parties or individuals validating their identity.

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2) Insight by Use-Case
On the basis of use-case, the market is segmented into:
• Unmediated
• Third Party
• Mediated
• Internal

Among all use-case, the unmediated e-signature market size was the largest and it is also predicted to grow at the fastest CAGR during the forecast period. The key traction for unmediated e-signature is due to the due to its user friendly and faster process.

3) Insight by Deployment Mode
Based on deployment mode, the market is segmented into:
• Cloud-Based
• On-Premise

Of both, the larger market share is held by the cloud-based e-signature market, globally and the category is also expected to observe the higher CAGR of 36% during the forecast period. This is primarily due to the faster and easier workflow without any hardware burden with the cloud-based solution.

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Industry Dynamics

1) Growth Drivers
Factors that have been acting as the driving factors for the growth of this industry are:
i. Increasing awareness regarding secure and controlled workflow, improved user experience and improved operational efficiency
ii. The increasing identity thefts and online frauds
iii. The faster and secure validation of documents and communications by ensuring identification of individuals

2) Challenges
Key factors hindering the growth of the e-signature market are:
i. Adherence to the traditional business practices
ii. Lack of awareness regarding legality of e-signatures
iii. Lack of robust policies for recognition of e-signature across different countries

Geographic Overview

• North America — US, and Canada
• Europe — Germany, U.K., France, Italy, and Rest of Europe
• Asia Pacific —China, India, Australia, South Korea, and Rest of Asia-Pacific
• Rest of the World — Brazil, Mexico, and Others

Of all the different regions, North America account for the largest share of the e-signature market, globally. The key factors leading to the largest e-signature market size in North America are increased level of internet penetration and adoption of online business practices.

Asia-Pacific is observed to witness significant growth at 36% CAGR in the e-signature market during the forecast period, as the region provides immense opportunities for industry players as the region is witnessing boomin e-commerce industries especially in the developing nations like India and China.

Competitive Insight

The key players operating in the global e-signature market are: Adobe Systems Inc., Citrix Systems Inc., SIGNiX Inc., Docusign Inc., SSL Europa France SAS, Gemalto NV, Sertifi Inc. RPost and AssureSign LLC.

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