New York, June 23, 2016 /PRNewswire/ --
According to market research "Global E-Signature Market Size, Share, Development, Growth and Demand Forecast to 2020 - Industry Insights by Deployment (Cloud Based, On Premises), by Type (Signature pad at POS, Public Key Infrastructure (PKI), Voice Signature, Clickwrap, Username and Pin, Others), by Use Case (Mediated, Unmediated, Third Party, Internal)" by P&S Market Research, the global e-signature market is expected to grow at a CAGR of 39.2% in terms of value during 2016-2020. Among the various use case types, the unmediated segment accounted for largest share (41.6%) in the global e-signature market in terms of value in 2015.
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Electronic signature (E-signature) refers to signatures in electronic form. E-signature speeds up documentation process and makes them secure. The global e-signature market is being driven by the increasing demand for security, workflow efficiency and supply chain enhancement across organizations. The increasing consumer confidence in the e-signature technology is one of the major trends witnessed in the market, which is also expected to provide growth opportunity to the industry. The increasing partnership between companies for product and process development is another major trend observed in the market. The key restraints hampering the growth of the market include lack of cross border standardization, related to e-commerce laws and directives, and high cost of e-signature software license.
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North America accounted for largest share in the global E-signature market in 2015. The North American e-signature market is mainly driven by the increasing adoption of e-commerce and increasing demand to speed up financial banking and insurance processes and services. Moreover, the need for security and risk management, specifically in financial, banking and insurance sector is expected to boost the growth of the e-signature market in North America during the forecast period. Australia is emerging as one of the fastest growing markets for e-signature, which is expected to be an opportunity for the e-signature providers during the forecast period. The increasing adoption of e-signature based on SaaS delivery model is also expected to provide growth opportunity to the market. The e-signature market in European countries is expected to witness enormous growth during 2016 -2020, owing to the anticipated standardization of e-signature laws in the European Union. The RoW market for e-signature is growing at comparatively lower rate, due to the lack of standard cyber law.
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The major players operating in the global e-signature market include Gemalto NV., Sertifi Inc., AssureSign LLC, SSL Europa France SAS, Citrix Systems Inc., RPost, Docusign Inc., and Adobe Systems Incorporated.
Global E-Signature Market Segmentation
- Cloud Based
- On Premises
- Signature pad at POS
- Public Key Infrastructure (PKI)
- Voice Signature
- Username and Pin
By Use Case
- Third Party
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Rest of the World (RoW)
- Rest of RoW
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SOURCE P&S Market Research