Global eSignature and Certifications Market Overview:
An electronic signature (e-signature) is the digital equivalent of a traditional pen and ink signature. Electronic signatures have the same legal obligations as handwritten signatures, provided they meet the standards. Digital certificates are used to identify the owner of a certificate, securely exchange information with other people and institutions, and electronically sign transmitted data to verify its integrity and provenance. The factors that drive the market are Fast growth in investments in electronic documents by governments and enterprises, upgrades in end-to-end customer experience, and enhanced security with a controlled and seamless workflow.
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The growing number of connected devices, including smartphones, tablets, and laptop and Increasing E-Commerce Market Boosting the Growth of eSignature
Market Growth Drivers:
Fast growth in investments in electronic documents by governments and enterprises, Upgrade in end-to-end customer experience, Enhanced security with a controlled and seamless workflow and Improved operational efficiency at lower OPEX
Intensely entrenched traditional business practices and Cost of implementation and legality issues
Lack of awareness about the legality of eSignatures and Variation in eSignature rules and regulations across regions
Enhancement in the acceptance of cloud-based security solutions, The growing number of partnerships and acquisitions and The rise in artificial intelligence
Global eSignature and Certifications is a fragmented market due to the presence of various players. The players are focusing on planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are SignNow (United States), Aspose Pty Ltd (Australia), ContractSafe (United States), DocuSign (United States), Foxit Software Incorporated (United States), MSB (Sweden), Odoo (United States), OneSpan Sign (United States), Skribble (Switzerland), LULU Software Limited (Canada), Zoho Sign (India) and Rpost (United States). Considering Market by Industry Vertical, the sub-segment i.e. BFSI will boost the eSignature and Certifications market. Considering Market by Deployment, the sub-segment i.e. On-Premises will boost the eSignature and Certifications market. Considering Market by Organisation Size, the sub-segment i.e. Small will boost the eSignature and Certifications market.
Latest Market Insights:
In October 2021, Foxit acquired eSignature Software Leader, eSign Genie. Foxit launched Foxit eSign, a best of breed eSignature service that provides a full, legally binding and secure electronic signature workflow for digital preparation, sharing, signing and collecting of important documents.
In September 2022, The UK Legalisation Office will be able to receive documents digitally. It will issue electronic ‘e-Apostille’ certificates enabling a quicker, cheaper, and more efficient service for thousands of people around the globe. A legalized document is needed in many international transactions including overseas working visas and managing property. Currently, customers send their physical documents to the UK Legalisation Office by post or courier and receive the documents back several days later with a paper certificate, known as an Apostille, attached. The first UK e-Apostille was issued on 15 December 2021 as a pilot initiative. The option to apply for an e-Apostille will now be opened up to more customers.
In May 2022, the Moldovan Parliament voted on the new Law on Electronic Identification and Trust Services ("Law 124/2022"). Law 124/2022 will enter into force on 10 December 2022 and replaces the currently existing Law on Electronic Signature and Electronic Document ("Law 91/2014"). This replacement seeks to align the national legislation in the field of electronic signature with European norms, namely the harmonization with Regulation (EU) No 910/2014 of the European Parliament and of the Council of 23 July 2014 on electronic identification and trust services for electronic transactions in the internal market and repealing Directive 1999/93/EC.
What Can be Explored with the eSignature and Certifications Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global eSignature and Certifications Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in eSignature and Certifications
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global eSignature and Certifications market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in eSignature and Certifications market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes eSignature and Certifications Developers, Regulatory Bodies, Potential Investors, Industry Verticals and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.