Global Contract Electronic Signature Software Market Size By Method (General Electronic Signature, Qualified Electronic Signature, Enhanced Electronic Signature), By End User (Manufacturing, BFSI, Pharmaceuticals), By Geographic Scope And Forecast

Contract Electronic Signature Software Market Size And Forecast

Contract Electronic Signature Software Market size is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2021 to 2028.

The incorporation of digital signature in the healthcare sector can ensure the safety and integrity of the personal information of patients, which in turn, is expected to present productive business opportunities for market players over the forecast period. The Global Contract Electronic Signature Software Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Contract Electronic Signature Software Market Definition

Think of an electronic signature, or e-signature, as a bunch of different ways to say "I agree" on a digital document. It's not just about signing your name; it's about showing you meant to sign, you consent to what's there, and, depending on how it's set up, proving the document is real, hasn't been tampered with, and you can't deny you signed it later. Just like a regular signature on paper, an e-signature can be totally legal if you follow the rules and regulations that apply to everyone involved. A good e-signature tool should let you quickly sign things on the fly, but also handle more complex processes. Plus, it should play nice with your everyday software (like COTS business applications) and even your custom apps, usually through APIs, making sure the document's data is accurate and valid.

The digital signature is a technology that assures the contents of the message have not been altered in transit. In layman’s terms, a digital signature validates the legitimacy and integrity of a message, digital content, or software. It is typically used as an encryption measure or password to ensure the safety and integrity of files, data, confidential information, and documents during an exchange between several entities parties.

Global Contract Electronic Signature Software Market Overview

Digital signatures are making a real splash in legal cases, mostly because things need to stay under wraps. That's why you'll find specialized software and gadgets designed just for creating these signatures. The cool part is, once a document's digitally signed, it helps guarantee the data hasn't been messed with. Think of it as extra armor! It gives both the person signing and the person getting the document serious peace of mind, since it's like a rock-solid ID check for everyone involved. The software cooks up a signature that's totally unique to whoever's attached to the official document. And get thisif someone even tries to tweak the signature, poof! It's invalid, letting you know right away that the document's been tampered with. Learn more here.

Getting a digital signature can be a real hassle. You often need a digital ID or even a physical token from a certified authority, meaning you'll have to show your Government Issue ID and give biometric data. While a digital signature is super useful for exchanging sensitive files, it's overkill for a simple, one-time transaction. Think about itall those processes and prerequisites just to get a digital certificate? Plus, some digital signature processes can be computer-intensive, causing delays for users. All things considered, these factors are likely to slow down market growth in the coming years.

The Healthcare sector has been embraced digitalization in the recent past, which has witnessed the adoption of IoT, 3D printing, and other novel technologies. The Healthcare sector is rapidly moving towards paperless work, which includes Medicare billing, patient onboarding, and others. Furthermore, various pharmaceutical companies are adopting digital signatures, and exchanging communications and information on paper are going paperless. Moreover, the incorporation of digital signatures in the healthcare sector can ensure the safety and integrity of the personal information of patients, which in turn, is expected to present productive business opportunities for market players over the forecast period.

Global Contract Electronic Signature Software MarketSegmentation Analysis

The Global Contract Electronic Signature Software Market is Segmented on the basis of Method, End User, and Geography.

Contract Electronic Signature Software Market, By Method

• General Electronic Signature• Qualified Electronic Signature• Enhanced Electronic Signature

Based on Method, the market is segmented into General Electronic Signature, Qualified Electronic Signature, and Enhanced Electronic Signature. The Contract Electronic Signature Software Market on the basis of deployment is segmented into on-premise and cloud. The companies adopting electronic signature solutions are focusing on adopting cloud-based solutions to achieve more flexibility, high scalability, and cost optimization. The paradigm shift of businesses embracing digitalization has reaped more significant benefits for the enterprises and resulted in more revenue generation opportunities.

Contract Electronic Signature Software Market, By End User

• Manufacturing• BFSI• Pharmaceuticals• Government Agencies• Legal• Others

Based on End User, the market is segmented into Manufacturing, BFSI, Pharmaceuticals, Government Agencies, Legal, and Others. The banking, financial services, and insurance (BFSI) sector dominated the Contract Electronic Signature Software Market during the historical period, as a large number of people are opting for online channels to complete payment-, banking service-, legal agreement-, and insurance policy-related documentation processes. Moreover, governments of numerous countries are stepping up efforts to transform into digital economies, which are creating a high demand for such solutions in the BFSI sector.

Contract Electronic Signature Software Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

Based on regional analysis, the Global Contract Electronic Signature Software Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The North American Securities Administrators Association needs that an electronic signature must meet both Electronic Signatures in Global and National Commerce Act (ESIGN) as well as the Uniform Electronic Transactions Act requirements. The statement of policy necessities focuses on electronic presentation and subscription documents to investors.

Key Players

The “Global Contract Electronic Signature Software Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Adobe Inc., Docusign, Inc., Esign Geni, HID Global, Legalesign Limited, OneSpan, RPost, Thales S.A., U-SIGN-IT, Zoho Corporation. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

Partnerships, Collaborations and Agreements

• Adobe announced a strategic partnership with IBM and Red Hat in July 2020 to assist organizations to accelerate digital transformation and increase real-time data security, with an emphasis on regulated industries.

• Thales and Votiro formed a strategic partnership in July 2020. To defend government organizations from all file-borne risks, the alliance will offer proven solutions from Votiro’s Secure File Gateway product family, including email and web apps.

• On October 2019, Adobe, Inc. announced a partnership with Box Inc., to integrate Acrobat web experience with Box. The partnership aims to offer solutions to collaborate, modify, sign, or organize a PDF File directly through the box.

Product Launches and Product Expansions

• DocuSign will be linked with Workplace by Facebook in August 2020. In the midst of digital transformation activities and remote work, the integration is focused on its Agreement Cloud.

• Adobe Sign, its product, was updated in July 2020. Adobe Sign customers who manage their user entitlement through the Adobe Admin Console can now assign elevated power to individual users in their Adobe Sign product profiles.

Report Scope

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Reasons to Purchase this Report

We dive deep, using both numbers and more nuanced understandings, to break down the market into meaningful segments considering things like the economy, but also other important stuff. We'll give you the market size (in good ol' USD Billion) for each of those segments and sub-segments. Plus, we'll point out the region and segment poised for the quickest growth and ultimate market domination. Geographically, we'll analyze product/service consumption, pinpointing the factors influencing the market in each area. Get the scoop on the competitive scene, including a ranking of major players alongside their recent movesnew service/product launches, partnerships, expansions, and acquisitions from the last five years – all wrapped up in detailed company profiles. These profiles feature company overviews, insights, product benchmarking, and a good ol' SWOT analysis for the big names. We'll explore the current and future market outlook, highlighting recent developments, growth opportunities, drivers, challenges, and restraints in both up-and-coming and established regions. Expect an in-depth look at the market from all angles, including Porter's five forces analysis and a deep dive into the Value Chain. We paint a vivid picture of market dynamics and future growth possibilities. Oh, and did we mention 6 months of post-sales analyst support?

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