Jul 13, 2020 8:00 PM ET
iCrowd Newswire – Jul 13, 2020
Enterprises and new developing markets are expected to invest in the technology market to build IT infrastructure that would help reduce costs and enhance business productivity. The rising need for digitilization in industries is expected to create new opportunities for the global electronic signature software market during the forecasted period.
Today, technology’s innovative solutions are helping technology companies across the world to accelerate their digital transformation adoption. From the past few years, the technology industry observed high growth and a dramatic increase worldwide. Factors such as technological innovations, economic growth, and IT spending influence technology industry dynamics considerably. The global economy is anticipated to stabilize and grow at a steady speed in the coming years, mostly driven by emerging economies such as China, India, and Brazil.
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Latest market study on “Electronic Signature Software Market to 2027 by Deployment (On Premise and On Cloud); Method (General Electronic Signature, Qualified Electronic Signature, and Enhanced Electronic Signature); Offerings (Solutions and Service); End-user Industry (Manufacturing, BFSI, Pharmaceuticals, Government Agencies, Legal, and Others); – Global Analysis and Forecast”, the electronic signature software market is estimated to reach US$ 5,639.48 Mn by 2027 from US$ 853.75 Mn in 2018. The report includes a key understanding of the driving factors of this growth and also highlights the prominent players in the market and their developments.
In Europe also, the Electronic Identification and Trust Services Regulation (eIDAS) established a legal structure for electronic signatures and documents across the European Union (EU). Since July 2016, electronic signatures in the region are governed by the Electronic Identification and Trust Services (eIDAS) Regulation it offers a regulatory environment directly applicable to all EU Member States to allow seamless and secure electronic interactions between citizens, businesses, and public authorities. This also offers companies a predictable legal environment to develop and expand the use of electronic signatures in the region.. Such above mentioned factors is expected to fuel the growth of electronic signature software market in Europe.
Market Initiatives was observed as the most adopted strategy in global electronic signature solution market. Few of the recent market initiatives are listed below:
2019: DocuSign invested US$15Mn in Seal Software to accelerate the adoption of AI in analyzing Agreements. This investment would expand partnership formed between DocuSign and Seal Software early last year.
2018: Zoho Corporation opened office at Renigunta. This is Zoho’s third office in India after its international headquarters in Chennai and Tenkasi in southern Tamil Nadu.
2017: Zoho announced the launched of Zoho Sign which is a digital signature app for businesses. The app would enable businesses to send legally binding contracts from anywhere, using a simple signing process.
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Keywords: Electronic Signature Software Market, Electronic Signature Software, Electronic Signature Software Market 2020, Electronic Signature Software Market 2027