Europe Electronic Signature Software Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Deployment (On Premise and On Cloud), Method (General Electronic Signature, Qualified Electronic Signature, and Enhanced Electronic Signature), Offerings (Solutions and Service), and End-User Industry (Manufacturing, BFSI, Pharmaceuticals, Government Agencies, Legal, and Others)
The Europe electronic signature software market is expected to grow from US$ 356.79 million in 2020 to US$ 2,155.27 million by 2028; it is estimated to grow at a CAGR of 25.2% 2020-2028.
The electronic signature helps users show agreement to the conditions in terms of electronic service. The electronic signature provides greater security to the one who is signing the documents and the one receiving it. Digitally signed documents have a high potential in the legal sector, which is one of the major factors supporting the growth of the Europe electronic signature software market. Electronic signature software provides various advantages that enable businesses to streamline the workflow. Increased business speed, improved document accuracy, optimized cost and time, and enhanced customer service are among the advantages of electronic signatures. A few of the significant factors that are contributing to the growth of the Europe electronic signature software market are increasing digitization, advancements in technologies, and the growing focus of companies toward providing better end-to-end services. In Europe, major industries such as manufacturing, BFSI, and government agencies are at the forefront of electronic signature software adoption.
The Europe electronic signature software market is segmented on the basis of deployment, offering, method, and end-user industry. Based on deployment, the market is bifurcated into cloud and on premise. By offering, the Europe electronic signature software market is bifurcated into solution and service. Based on method, the market is segmented into general electronic signature, qualified electronic signature, and enhanced electronic signature. By end-user industry, the Europe electronic signature software market is segmented into BFSI, pharmaceutical, manufacturing, government agencies, legal, and others. The Europe electronic signature software market is segmented into five major countries—Germany, the UK, Russia, Italy, and France.
Adobe, DocuSign Inc., eSign Genie, HID Global Corporation, Legalesign Ltd., OneSpan, RPost, Thales Group, U-Sign-It Pty Ltd, and Zoho Corporation are among the key players profiled in the research study of the Europe electronic signature software market.
Impact of COVID-19 Pandemic on Europe Electronic Signature Software Market
The adoption of electronics equipment has been affected massively due to the COVID-19 outbreak. The outbreak distrusted the businesses across several industries in various countries. The European member states such as Italy, Spain, and Germany implemented drastic measures and travel restrictions to limit the spread of the novel coronavirus. Moreover, due to rising automation of legal process across various sectors, such as manufacturing, BFSI, pharmaceuticals, and government agencies, the deployment of electronic signature software is increasing in Europe. The deployment is also increased in the region owing to rising adoption of cloud technology. Further, the imposition of containment measures owing to the spread of mutated strain hampered the growth of the Europe electronic signature software market in Q1, 2021.
Overall size of the Europe electronic signature software market has been derived in accordance to primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Europe electronic signature software market.
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