Europe E-Signature Market To Cross $10,504.7 Million Value by 2030

The European e-signature market is projected to generate $10,504.7 million revenue in 2030, advancing at a CAGR of 34.9% during 2021–2030. The rise in prevalence of remote working, favorable government laws and regulations for e-signature adoption, increase in the volume of online documentation processes, and cost-effectiveness of e-signatures are propelling the market growth.

Furthermore, e-signatures can be done remotely from any location and the workflow is not hampered, and large as well as small businesses are adopting them widely to improve their efficiency. Additionally, the adoption of e-signatures in the remote working model has various advantages, such as improved efficiency and time management, safety, and legal binding, as well as the creation of comprehensive digital audit trails, which help organizations track discrepancies.

Moreover, the market for authentication, anti-fraud, and e-signature solutions will grow in the coming years, due to the rise in the volume of digital banking transactions, digital commerce activities, work-from-home corporate access requirements, awareness of cybercrime impact, and supportive government regulations.

Cloud Category To Witness Fastest Growth

The cloud category is expected to witness the faster growth during the forecast period in the European e-signature market. This is because data security is one of the major concerns that can be largely addressed by cloud-based e-signature software, as the signature key is stored on a remote server, which minimizes the threat of losing data to cybercriminals. Thus, cloud-based e-signature software is in high demand across the region.

Moreover, the software category accounts for the largest share, based on component, in the market. This is due to the increasing inclination of various verticals in the region toward the adoption of the latest technologies, easy configuration, and customization, which, in turn, drives the demand for e-signature software.

Geographically, France is the third-largest market for electronic signatures. This is owing to the surging acceptance of eIDAS regulations, which make the adoption of e-signatures easier in the country, and the rising number of e-commerce and digital transactions.

Partnerships Are Most-Effective Strategic Measures

Key players offering e-signatures in Europe have been extensively involved in partnerships to gain competitive advantages in the market. For instance:

In February 2022, DocuSign and Zoom partnered to help customers utilize everything from video banking to touchless purchases as needed. Under this partnership, DocuSign will offer its DocuSign eSignature app for Zoom, which will allow users to complete everyday tasks hassle-free without being at the same location as other users.

Similarly, in December 2020, PandaDoc Inc., a leading all-in-one document automation software provider, partnered with Amelia, an iSOFT company that specializes in automation and conversational AI, to streamline electronic signing processes for companies' legal, finance, HR, and information security departments.

Key players in the European e-signature market include DocuSign Inc., Thales Group, Adobe Inc., Entrust Corporation, Formstack LLC, airSlate Inc., Foxit Corporation, Citrix Systems Inc., PandaDoc Inc., OneSpan Inc., and Dropbox Inc.