Electronic Signature Software Market Research Methodology, Key Industry Dynamics, Future Trends and Global Industry Analysis by 2030

According to the new research report on "Electronic Signature Software Market Size and Forecast (2020-2030), Global and Regional Share, Trends, and Growth Opportunity Analysis," published by The Insight Partners, the electronic signature software market is expected to reach US$ 35.7 billion by 2030 and register a CAGR of 34.2% from 2023 to 2030.

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Humans have caused unprecedented levels of damage to the environment over the past years. By exploiting natural resources, generating enormous waste, and polluting the air and water, vastly approaching the point of no return. As a result of increased pressure from climate change and environmental organizations. Various governments across the globe are taking initiatives to encourage organizations to reduce their usage of paper. For instance, the UK government has set out a plan for the country to achieve net zero by 2050. This has increased pressure on businesses to monitor their carbon footprint and introduce ways to reduce their impact on the environment. This has led to businesses looking to adopt digital technologies that can enable businesses to become more sustainable are creating opportunities in the electronic signature software market. For instance, as of May 2020, the National Payment Corporation of India (NPCI) has mandated eSign-based e-mandate from June 1, 2020. Further, the Indian government's Digital India initiative, focused on encouraging the use of digital services by companies and individuals, allows digital signatures to sign government documents. Thus, the growing number of green initiatives fuels the electronic signature software market growth.

China is considered the fastest-growing major economy. Due to China's growth, it is reaching the top spot of the electronic signature software market. The government is very keen to maintain China's stronghold and competitiveness, especially in the adoption of advanced technologies. China is transitioning from its image of being a low-cost labor country by investing heavily in digital transformation to acquiring a dominant position in the global technology market landscape. Companies in China are highly focused on providing electronic signature solutions in order to gain traction in the electronic signature software market. For instance, in November 2020, Esign, an e-signature services provider in China, announced that it had raised over US$ 151 million in a series D round led by the Shenzhen Capital Group, the Evergrande High-Tech Group, owned by Chinese property giant Evergrande Group and Fortune Capital. Thus, the presence of such e-signature providers in the country propels the growth of the electronic signature software market.

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Electronic Signature Software Market: Key Findings of Study:

Based on end-users, the electronic signature software market is segmented into manufacturing, BFSI, pharmaceuticals, government agencies, legal, and others. The manufacturing segment is projected to grow at a notable CAGR of the global electronic signature software market during the forecast period. The manufacturing industry, like any other industry, is heavily reliant on paperwork for process approvals and document management. Fortunately, digital signatures offer a safer and legally binding alternative for the execution of documents is expected to drive electronic signature software market growth during the forecast period. Moreover, the manufacturing sector is witnessing a high transition from manual to digital operations. Industry 4.0 has played an important role in the advanced smart manufacturing industry. Germany, China, and several countries around the world are focused on automating and digitalizing their manufacturing to survive in highly competitive markets. The manufacturing sector is one of the leaders in the adoption and implementation of robotics for control and automation.

The manufacturing software is adopting digital signature software to automate the documentation processes for its customers to attain efficiency and cost savings. It enables the customers located at different locations to convert the document to electronic form and to add a digital signature for the processes is boosting the electronic signature software market growth. All the documents generated in electronic form can be approved using the electronic signature. eMudhra, Certinal Inc., and various other prominent electronic signature software market players across the globe for the manufacturing industry.

Electronic Signature Software Market Analysis: Competitive Landscape and Key Developments

Adobe Inc, DocuSign Inc., HID Global Corporation, Legalesign Ltd., OneSpan Inc, RPost, Thales SA, U-Sign-It Pty Ltd, Zoho Corp Pvt Ltd, and Altron Ltd are among the key electronic signature software market players that are profiled in the report. Several other essential electronic signature software market players were also analyzed for a holistic view of the market and its ecosystem. The market report provides detailed market insights to help major players strategize their growth.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Food and Beverages, Consumers and Goods, Chemicals and Materials.

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