How Is Corporate Sector Boosting E-Signature Market Growth?

Currently, the increasing adoption of signature pads for forensic information preservation is becoming a prominent trend in the e-signature market. Signature pads can safeguard the forensic information of signatures, such as writing dynamics and pressure, owing to which they provide an extensive degree of security and personalization. This device uses a pen-type stylus to capture a handwritten signature.

It has gained high prominence in the banking, financial services, and insurance (BFSI), government, and healthcare sectors. For instance, financial institutions of the U.S. are using pen interfaces for transforming the banking experience. The component segment of the e-signature market is classified into service, software, and hardware. 

Among these, the software category dominated the market in 2020, and it is also expected to retain its dominance in the forecast years. This can be owed to the surging use of advanced and cloud-based e-signature solutions with encryption through public key infrastructure (PKI), which guarantees secure communication or sharing of digital documents. 


E-Signature Market Competitive Landscape, Insights by Geography, and Growth Opportunity 

Whereas, the service category will exhibit the fastest growth throughout the forecast period, due to the lack of technical skills and awareness to manage large-scale operations. According to P&S Intelligence, North America contributed the highest revenue to the e-signature market in 2020, owing to mounting investments being made in advanced technologies in several sectors. 

The end-use sectors usage e-signature solutions for quality control, enhanced productivity, and high security.Whereas, the Asia-Pacific (APAC) market is expected to showcase the fastest growth during the forecast period, on account of the rising adoption of digital services across sectors, soaring online commerce activities, and increasing acceptance of online billing, paperless transaction, and online payment facilities in the region.

Therefore, the increasing demand for e-signatures from the corporate sector and the rising need for security solutions amidst the pandemic and remote working ecosystem are driving the market growth across the globe.

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