Global E-Signature Market to Grow in Double Digits by 2023

Global E-Signature Market to Grow in Double Digits
As per the research, the global e-signature market is likely to register a double-digit growth rate during the forecast period. Electronic signature refers to signatures in electronic form, which helps in speeding documentation processes and making them secure. Growing security concern, rising government support coupled with rising adoption of advance technology in the developing countries, such as India, China, and Brazil, is likely to spearhead the growth of the global e-signature market. In addition, with increasing e-commerce market, growing government focus towards eliminating paperless work and growing number of connected devices, including smartphone, tablet and laptop, is further expected to drive the demand of e-signature across the globe.
Insights on market segments
Public Key Infrastructure (PKI) contributes highest revenue to the e-signature market, while Username and pin, Signature pad at POS, Clickwrap and Voices signature are the other major types of e-signature market. The market for Clickwrap is likely to register the highest growth during the forecast period on account of growing e-commerce market, rising focus of the companies towards security and authenticity coupled with growing support of various government for bidding.
On the basis of use case, unmediated accounted the largest revenue in global e-signature market, on account of growing e-commerce market, rising online transactions and growing security concern. In addition, in an unmediated process, external assistance for form filling procedures is not required, as they are self-service online transactions for e-commerce transactions, commoditized insurance purchases.
The market to witness fastest growth in Asia-Pacific during the forecast period
Geographically, North America has been the largest market for e-signature and Asia-Pacific had been the fastest growing market. The U.S. stands as the largest market globally, whereas the market in India has been growing at highest pace. In addition, with growing government initiatives in India, such as Digital India and growing security concern among consumers, is expected to drive the demand of e-signature during the forecast period.
By Deployment Mode
  • Cloud Based
  • On-Premises
By Type
  • Public Key Infrastructure (PKI)
  • Username and Pin
  • Signature Pad at POS
  • Clickwrap
  • Voices Signature
  • Others (Including Hand Written Mouse Signature, Shared Secrets and Stored Signature Image)
By Use-Case
  • Unmediated
  • Mediated
  • Third Party
  • Internal
The anticipated growth in the Asia-Pacific market can be attributed to factors such as increasing concern for cyber security, significant growth in e-commerce industry and initiatives taken by various government associations for the elimination of paper work and enhancement in the use of digital technology in countries such as China and India. Further, increasing investment by e-signature software developing companies across the Asia-Pacific and increasing demand for e-signature by large enterprises is expected to drive the growth of e-signature market during forecast period.
Apart from this, some of the key players operating in the global e-signature market are RPost, SIGNiX Inc., Citrix Systems Inc., SSL Europa France SAS, AssureSign LLC, Sertifi Inc. and Gemalto NV.

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