According to our latest market study on “Europe Electronic Signature Software Market Forecast to 2028 - COVID-19 Impact and Analysis - 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),” the market was valued at US$ 356.79 million in 2020 and is projected to reach US$ 2,155.27 million by 2028; it is expected to grow at a CAGR of 25.3% from 2020 to 2027.
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With the increasing global competition, businesses are ensuring their digital presence and are efficiently utilizing digital technologies to sustain in the market. Organizations in the present era, regardless of their size, are exploiting digital technologies for effective functioning and cost reduction. Although digitalization is taking place on a huge scale, several SMEs are still skeptical about adopting it. Factors such as fear of risks, lack of right understanding, and expenditures incurred on new technologies, among others, are the factors responsible for the limited adoption. However, there are several open opportunities for SMEs prevailing in the digital world. They can help the SMEs to efficiently compete with larger enterprises as technology is greatly scalable and flexible. Additionally, adoption of electronic signatures offers an opportunity of automating tasks with the integration of the software. This helps the SMEs in cost and time saving as well as reduction of errors, thereby improving the work quality.
The developing architectures and advanced features of cloud platforms are propelling the deployment of cloud-based solutions across every industry vertical, including the BFSI. The BFSI sector in Europe is one of the significant sectors witnessing huge growth. At present, cloud-based electronic signature solutions are being adopted by various banks owing to low initial investments and fast updates offered by these solutions, and this trend is anticipated to continue during 2020-2028. The COVID-19 pandemic had adversely hit countries in Europe. As a result, various business across different sectors have been suffering losses. Governments of different countries announced temporary business shutdowns in 2020; in addition, the emergence of coronavirus is hindering the operation of various business in the region. The governments have been encouraging people to adopt social distancing and contactless transaction across all BFSI, manufacturing, pharmaceuticals, government agencies, etc., through various measures. Thus, the deployment of electronic signature software is increasing across different sectors in Europe.
In the European Union (EU), the Electronic Identification and Trust Services Regulation (eIDAS) established a legal structure for electronic signatures and documents in July 2016. Since then, electronic signatures in the region are governed by the eIDAS regulation; it allows 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. Most of the organizations in Europe need to meet the growing expectations of the modern tech-savvy customers that seek connectivity on all possible channels. From the organization’s viewpoint, business transactions should be executable anywhere, anytime, and must be straight and simple. Employees gradually expect the same from internal workflows. For both employees and customers, a traditional method of printing a document to take a signature for proof of intent might slow down the business processes. Hence, enterprises across Europe prefer adopting an advanced automated process, such as electronic signatures, for signing the document in a secure way. Thus, electronic signature software help improve productivity of businesses, along with allowing them to offer better customer experience. Furthermore, as electronic signature technology has evolved with time; numerous electronic signature software options are now available to organizations and users, such as BFSI and government agencies.
Impact of COVID-19 on Europe Electronic Signature Software Market
The adoption of electronics equipment has been affected massively due to the outbreak of COVID-19. The COVID-19 outbreak has distrusted the business across several industries in various countries of the region. The European member states such as Italy, Spain, and Germany have implemented drastic measures and travel restrictions to limit the spread of COVID-19. Moreover, due to rising automation of legal process across various sectors, such as manufacturing, BFSI, pharmaceuticals, and government agencies, across the region the deployment of electronic signature software is increasing. The deployment of electronic signature software increased owing to rising adoption cloud technology. Further, the recent imposition of containment measure owing to the spread of newly mutated strain might hamper the market growth in the Q1 2020 in this region. and then the deployment of electronic signature software increased as well as witnessed to grow further, owing to rising adoption cloud technology. Thus, the spread of newly mutated strain of COVID-19 is anticipated to positively impact the electronic signature software market during the forecast period.
The report segments the Europe Electronic Signature Software Market as follows:
Europe Electronic Signature Software Market - by Deployment
Europe Electronic Signature Software Market - by Method
Europe Electronic Signature Software Market - by Offerings
Europe Electronic Signature Software Market - by End-User Industry
Europe Electronic Signature Software Market - by Countries
With the increasing global competition, businesses are ensuring their digital presence and are efficiently utilizing digital technologies to sustain in the market. Organizations in the present era, regardless of their size, are exploiting digital technologies for effective functioning and cost reduction. Although digitalization is taking place on a huge scale, several SMEs are still skeptical about adopting it. Factors such as fear of risks, lack of right understanding, and expenditures incurred on new technologies, among others, are the factors responsible for the limited adoption. However, there are several open opportunities for SMEs prevailing in the digital world. They can help the SMEs to efficiently compete with larger enterprises as technology is greatly scalable and flexible. Additionally, adoption of electronic signatures offers an opportunity of automating tasks with the integration of the software. This helps the SMEs in cost and time saving as well as reduction of errors, thereby improving the work quality.
The developing architectures and advanced features of cloud platforms are propelling the deployment of cloud-based solutions across every industry vertical, including the BFSI. The BFSI sector in Europe is one of the significant sectors witnessing huge growth. At present, cloud-based electronic signature solutions are being adopted by various banks owing to low initial investments and fast updates offered by these solutions, and this trend is anticipated to continue during 2020-2028. The COVID-19 pandemic had adversely hit countries in Europe. As a result, various business across different sectors have been suffering losses. Governments of different countries announced temporary business shutdowns in 2020; in addition, the emergence of coronavirus is hindering the operation of various business in the region. The governments have been encouraging people to adopt social distancing and contactless transaction across all BFSI, manufacturing, pharmaceuticals, government agencies, etc., through various measures. Thus, the deployment of electronic signature software is increasing across different sectors in Europe.
In the European Union (EU), the Electronic Identification and Trust Services Regulation (eIDAS) established a legal structure for electronic signatures and documents in July 2016. Since then, electronic signatures in the region are governed by the eIDAS regulation; it allows 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. Most of the organizations in Europe need to meet the growing expectations of the modern tech-savvy customers that seek connectivity on all possible channels. From the organization’s viewpoint, business transactions should be executable anywhere, anytime, and must be straight and simple. Employees gradually expect the same from internal workflows. For both employees and customers, a traditional method of printing a document to take a signature for proof of intent might slow down the business processes. Hence, enterprises across Europe prefer adopting an advanced automated process, such as electronic signatures, for signing the document in a secure way. Thus, electronic signature software help improve productivity of businesses, along with allowing them to offer better customer experience. Furthermore, as electronic signature technology has evolved with time; numerous electronic signature software options are now available to organizations and users, such as BFSI and government agencies.
Impact of COVID-19 on Europe Electronic Signature Software Market
The adoption of electronics equipment has been affected massively due to the outbreak of COVID-19. The COVID-19 outbreak has distrusted the business across several industries in various countries of the region. The European member states such as Italy, Spain, and Germany have implemented drastic measures and travel restrictions to limit the spread of COVID-19. Moreover, due to rising automation of legal process across various sectors, such as manufacturing, BFSI, pharmaceuticals, and government agencies, across the region the deployment of electronic signature software is increasing. The deployment of electronic signature software increased owing to rising adoption cloud technology. Further, the recent imposition of containment measure owing to the spread of newly mutated strain might hamper the market growth in the Q1 2020 in this region. and then the deployment of electronic signature software increased as well as witnessed to grow further, owing to rising adoption cloud technology. Thus, the spread of newly mutated strain of COVID-19 is anticipated to positively impact the electronic signature software market during the forecast period.
The report segments the Europe Electronic Signature Software Market as follows:
Europe Electronic Signature Software Market - by Deployment
- On Premise
- On Cloud
Europe Electronic Signature Software Market - by Method
- General Electronic Signature
- Qualified Electronic Signature
- Enhanced Electronic Signature
Europe Electronic Signature Software Market - by Offerings
- Solutions
- Service
Europe Electronic Signature Software Market - by End-User Industry
- Manufacturing
- BFSI
- Pharmaceuticals
- Government Agencies
- Legal
- Others
Europe Electronic Signature Software Market - by Countries
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
Table of Contents
1. Introduction1.1 Scope of The Study
1.2 The Publisher's Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Electronic Signature Software Market Landscape
4.1 Market Overview
4.2 Europe PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Electronic Signature Software Market - Key Industry Dynamics
5.1 Market Drivers
5.1.1 Increasing Implementation of Digital Technologies by Enterprises in Europe
5.1.2 Growing Use of Electronic Signature in the E-Commerce Industry
5.2 Market Restraints
5.2.1 Laws and Policies Concerning Electronic Signatures
5.3 Market Opportunities
5.3.1 Mounting Deployment of Cloud-Based Solutions in the Banking Industry
5.4 Future Trends
5.4.1 Rising Application across SMEs
5.5 Impact Analysis of Drivers and Restraints
6. Electronic Signature Software Market - Europe Market Analysis
6.1 Europe Electronic Signature Software Market Overview
6.2 Europe Electronic Signature Software Market Forecast and Analysis
6.3 Market Positioning- Top Five Players
7. Europe Electronic Signature Software Market Analysis By Deployment
7.1 Overview
7.2 Europe Electronic Signature Software Market Breakdown, By Deployment, 2020 & 2028
7.3 On-Premise
7.3.1 Overview
7.3.2 Europe On-Premise Market Revenue and Forecasts to 2028 (US$ Million)
7.4 Cloud
7.4.1 Overview
7.4.2 Europe Cloud Market Revenue and Forecasts to 2028 (US$ Million)
8. Europe Electronic Signature Software Market - By Offerings
8.1 Overview
8.2 Europe Electronic Signature Software Market Breakdown, By Offering, 2020 and 2028
8.3 Solution
8.3.1 Overview
8.3.2 Europe Solution Market Revenue and Forecast to 2028 (US$ Million)
8.4 Service
8.4.1 Overview
8.4.2 Europe Service Market Revenue and Forecast to 2028 (US$ Million)
9. Europe Electronic Signature Software Market Analysis By Method
9.1 Overview
9.2 Europe Electronic Signature Software Market Breakdown, by Method, 2020 and 2028
9.3 General Electronic Signature
9.3.1 Overview
9.3.2 Europe General Electronic Signature Market Revenue and Forecast to 2028 (US$ Million)
9.4 Qualified Electronic Signature
9.4.1 Overview
9.4.2 Europe Qualified Electronic Signature Market Revenue and Forecast to 2028 (US$ Million)
9.5 Enhanced Electronic Signature
9.5.1 Overview
9.5.2 Europe Enhanced Electronic Signature Market Revenue and Forecast to 2028 (US$ Million)
10. Europe Electronic Signature Software Market - By End-User Industry
10.1 Overview
10.2 Europe Electronic Signature Software Market Breakdown, By End-User Industry, 2020 and 2028
10.3 Manufacturing
10.3.1 Overview
10.3.2 Europe Manufacturing Market Revenue and Forecast to 2028 (US$ Million)
10.4 BFSI
10.4.1 Overview
10.4.2 Europe BFSI Market Revenue and Forecast to 2028 (US$ Million)
10.5 Pharmaceuticals
10.5.1 Overview
10.5.2 Europe Pharmaceuticals Market Revenue and Forecast to 2028 (US$ Million)
10.6 Government Agencies
10.6.1 Overview
10.6.2 Europe Government Agencies Market Revenue and Forecast to 2028 (US$ Million)
10.7 Legal
10.7.1 Overview
10.7.2 Europe Legal Market Revenue and Forecast to 2028 (US$ Million)
10.8 Others
10.8.1 Overview
10.8.2 Europe Others Market Revenue and Forecast to 2028 (US$ Million)
11. Europe Electronic Signature Software Market - Country Analysis
11.1 Overview
11.1.1 Europe: Electronic Signature Software Market, By Country
11.1.1.1 Germany: Electronic Signature Software Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.1.1 Germany: Electronic Signature Software Market, By Deployment
11.1.1.1.2 Germany: Electronic Signature Software Market, By Method
11.1.1.1.3 Germany: Electronic Signature Software Market, By Offering
11.1.1.1.4 Germany: Electronic Signature Software Market, By End-User Industry
11.1.1.2 UK: Electronic Signature Software Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.2.1 UK: Electronic Signature Software Market, By Deployment
11.1.1.2.2 UK: Electronic Signature Software Market, By Method
11.1.1.2.3 UK: Electronic Signature Software Market, By Offering
11.1.1.2.4 UK: Electronic Signature Software Market, By End-User Industry
11.1.1.3 France: Electronic Signature Software Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.3.1 France: Electronic Signature Software Market, By Deployment
11.1.1.3.2 France: Electronic Signature Software Market, By Method
11.1.1.3.3 France: Electronic Signature Software Market, By Offering
11.1.1.3.4 France: Electronic Signature Software Market, By End-User Industry
11.1.1.4 Italy: Electronic Signature Software Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.4.1 Italy: Electronic Signature Software Market, By Deployment
11.1.1.4.2 Italy: Electronic Signature Software Market, By Method
11.1.1.4.3 Italy: Electronic Signature Software Market, By Offering
11.1.1.4.4 Italy: Electronic Signature Software Market, By End-User Industry
11.1.1.5 Russia: Electronic Signature Software Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.5.1 Russia: Electronic Signature Software Market, By Deployment
11.1.1.5.2 Russia: Electronic Signature Software Market, By Method
11.1.1.5.3 Russia: Electronic Signature Software Market, By Offering
11.1.1.5.4 Russia: Electronic Signature Software Market, By End-User Industry
11.1.1.6 Rest of Europe: Electronic Signature Software Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.6.1 Rest of Europe: Electronic Signature Software Market, By Deployment
11.1.1.6.2 Rest of Europe: Electronic Signature Software Market, By Method
11.1.1.6.3 Rest of Europe: Electronic Signature Software Market, By Offering
11.1.1.6.4 Rest of Europe: Electronic Signature Software Market, By End-User Industry
12. Impact of COVID-19 Pandemic on Europe Electronic Signature Software Market
12.1 Europe: Impact Assessment of COVID-19 Pandemic
13. Industry Landscape
13.1 Market Initiative
13.1 New Product Development
14. Electronic Signature Software Market- Company Profiles
14.1 Adobe
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 DocuSign Inc.
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 eSign Genie
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 HID Global Corporation
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Legalesign Ltd.
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 OneSpan
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 RPost
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Thales Group
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 U-Sign-It Pty Ltd
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Zoho Corporation
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
15.1 About the Publisher
15.2 Glossary Of TermsList of Tables
Table 1. Europe Electronic Signature Software Market Revenue and Forecasts to 2028 (US$ Million)
Table 2. Germany: Electronic Signature Software Market, By Deployment - Revenue and Forecast to 2028 (US$ Million)
Table 3. Germany: Electronic Signature Software Market, By Method - Revenue and Forecast to 2028 (US$ Million)
Table 4. Germany: Electronic Signature Software Market, By Offering - Revenue and Forecast to 2028 (US$ Million)
Table 5. Germany: Electronic Signature Software Market, By End-User Industry - Revenue and Forecast to 2028 (US$ Million)
Table 6. UK: Electronic Signature Software Market, By Deployment - Revenue and Forecast to 2028 (US$ Million)
Table 7. UK: Electronic Signature Software Market, By Method - Revenue and Forecast to 2028 (US$ Million)
Table 8. UK: Electronic Signature Software Market, By Offering - Revenue and Forecast to 2028 (US$ Million)
Table 9. UK Electronic Signature Software Market, By End-User Industry - Revenue and Forecast to 2028 (US$ Million)
Table 10. France: Electronic Signature Software Market, By Deployment - Revenue and Forecast to 2028 (US$ Million)
Table 11. France Electronic Signature Software Market, By Method - Revenue and Forecast to 2028 (US$ Million)
Table 12. France: Electronic Signature Software Market, By Offering - Revenue and Forecast to 2028 (US$ Million)
Table 13. France Electronic Signature Software Market, By End-User Industry - Revenue and Forecast to 2028 (US$ Million)
Table 14. Italy Electronic Signature Software Market, By End-User Industry - Revenue and Forecast to 2028 (US$ Million)
Table 15. Italy Electronic Signature Software Market, By Method - Revenue and Forecast to 2028 (US$ Million)
Table 16. Italy Electronic Signature Software Market, By Offering- Revenue and Forecast to 2028 (US$ Million)
Table 17. Italy: Electronic Signature Software Market, By End-User Industry - Revenue and Forecast to 2028 (US$ Million)
Table 18. Russia Electronic Signature Software Market, By Deployment - Revenue and Forecast to 2028 (US$ Million)
Table 19. Russia: Electronic Signature Software Market, By Method - Revenue and Forecast to 2028 (US$ Million)
Table 20. Russia: Electronic Signature Software Market, By Offering - Revenue and Forecast to 2028 (US$ Million)
Table 21. Russia Electronic Signature Software Market, By End-User Industry - Revenue and Forecast to 2028 (US$ Million)
Table 22. Rest of Europe: Electronic Signature Software Market , By Deployment - Revenue and Forecast to 2028 (US$ Million)
Table 23. Rest of Europe: Electronic Signature Software Market, By Method - Revenue and Forecast to 2028 (US$ Million)
Table 24. Rest of Europe: Electronic Signature Software Market, By Offering - Revenue and Forecast to 2028 (US$ Million)
Table 25. Rest of Europe: Electronic Signature Software Market, By End-User Industry - Revenue and Forecast to 2028 (US$ Million)
Table 26. Glossary Of Term: Electronic Signature Software MarketList of Figures
Figure 1. Europe Electronic Signature Software Market Segmentation
Figure 2. Europe Electronic Signature Software Market Segmentation - By Country
Figure 3. Europe Electronic Signature Software Market Overview
Figure 4. Cloud segment is expected to witness high growth
Figure 5. Qualified Electronic Signature Holds the Largest Market Share
Figure 6. Solutions Segment Holds the Largest Market Share
Figure 7. BFSI Industry Generates the Highest Revenue
Figure 8. Germany to Witness Fastest CAGR
Figure 9. Europe Pest Analysis
Figure 10. Europe Electronic Signature Software Market Ecosystem Analysis
Figure 11. Europe Electronic Signature Software Market Impact Analysis of Drivers and Restraints
Figure 12. Europe Electronic Signature Software Market Forecast and Analysis, (US$ Million)
Figure 13. Europe Electronic Signature Software Market Breakdown, by Deployment, 2020 & 2028 (%)
Figure 14. Europe On-Premise Market Revenue and Forecasts to 2028 (US$ Million)
Figure 15. Europe Cloud Market Revenue and Forecasts to 2028 (US$ Million)
Figure 16. Europe Electronic Signature Software Market, By Offering, 2020 and 2028 (%)
Figure 17. Europe Solution Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. Europe Service Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. Europe Electronic Signature Software Market Breakdown, By Method, 2020 and 2028 (%)
Figure 20. Europe General Electronic Signature Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. Europe Qualified Electronic Signature Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. Europe Enhanced Electronic Signature Market Revenue and Forecast to 2028 (US$ Million)
Figure 23. Europe Electronic Signature Software Market Breakdown, By End-User Industry, 2020 and 2028 (%)
Figure 24. Europe Manufacturing Market Revenue and Forecast to 2028 (US$ Million)
Figure 25. Europe BFSI Market Revenue and Forecast to 2028 (US$ Million)
Figure 26. Europe Pharmaceuticals Market Revenue and Forecast to 2028 (US$ Million)
Figure 27. Europe Government Agencies Market Revenue and Forecast to 2028 (US$ Million)
Figure 28. Europe Legal Market Revenue and Forecast to 2028 (US$ Million)
Figure 29. Europe Others Market Revenue and Forecast to 2028 (US$ Million)
Figure 30. Europe: Electronic Signature Software Market, By Country, 2020 and 2028 (%)
Figure 31. Germany: Electronic Signature Software Market - Revenue and Forecast to 2028 (US$ Million)
Figure 32. UK: Electronic Signature Software Market - Revenue and Forecast to 2028 (US$ Million)
Figure 33. France: Electronic Signature Software Market - Revenue and Forecast to 2028 (US$ Million)
Figure 34. Italy: Electronic Signature Software Market - Revenue and Forecast to 2028 (US$ Million)
Figure 35. Russia: Electronic Signature Software Market - Revenue and Forecast to 2028 (US$ Million)
Figure 36. Rest of Europe: Electronic Signature Software Market - Revenue and Forecast to 2028 (US$ Million)
Figure 37. Impact of COVID-19 Pandemic in Europe Country Markets
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Adobe
- DocuSign Inc.
- eSign Genie
- HID Global
- Legalesign
- OneSpan
- RPost
- Thales Group
- U-Sign-It Pty Ltd.
- Zoho Corporation
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 122 |
| Published | May 2021 |
| Forecast Period | 2020 - 2028 |
| Estimated Market Value ( USD | $ 356.79 Million |
| Forecasted Market Value ( USD | $ 2155.27 Million |
| Compound Annual Growth Rate | 25.2% |
| Regions Covered | Europe |
