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Europe Digital Signature Market Size, Share & COVID-19 Impact Analysis, By Deployment (Cloud and On-Premise), By Enterprise Type (Small & Medium Enterprises and Large Enterprises), By Level (Advanced Electronic Signatures (AES) and Qualified Electronic Signatures (QES)), By End User (BFSI, IT & Telecommunication, Government, Healthcare & Life Science, Education, Retail, Real Estate, and Others (Defence & Legal)), and Regional Forecast, 2023-2030

Last Updated: May 27, 2024 | Format: PDF | Report ID: FBI107411

 

KEY MARKET INSIGHTS

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Europe is the largest region in the global digital signature market. It is projected to grow at a CAGR of 37.5% during the forecast period. The global market for digital signature is projected to grow from USD 3.92 billion in 2022 to USD 43.14 billion by 2030.


Digital signatures are used extensively throughout the European Union in the public and private sectors. eIDAS, European Union's new Regulation on Identification and Trust Services, set requirements for secure signatures to help businesses, citizens, and public authorities carry out secure and seamless electronic interactions. It also provides detailed conditions and differentiation related to the types of electronic signatures, simplifying, and ensuring electronic signatures' legal validity.


Additionally, U.K. businesses favor standard electronic signatures for commercial and consumer contracts directed by regulatory framework for electronic transactions. Furthermore, the market solution enables companies to use cloud technology so customers can create these signatures through their smartphones and tablets and improve businesses' digital transformations.


Our report on the Europe digital signature market covers the following countries/regions – the U.K., Germany, France, Italy, Spain, Russia, Benelux, Nordics, and the Rest of Europe.


LATEST TRENDS


Growing Number of Partnerships and Acquisitions across Region Propels Market Growth


The market has witnessed significant growth in recent years. Major key players focus on strategizing their business by partnering and collaborating with small enterprises to establish themselves as competitive advantages. For Instance,



  • In November 2022, eID Easy partnered with Scrive, a Sweden-based electronic identification and signature solutions provider, to deliver electronic ID schemes through Europe. This partnership will enable the users to offer services with a broader range of identity-based signature service market as part of Scrive's offering, which is legally valid and binding in a wider range of countries.


DRIVING FACTORS


Increased Demand in the E-Commerce Industry Triggered Market Growth


With the rising internet penetration and increasing number of connected devices, the demand for e-commerce increased significantly in Europe, leading to processes with more robust authentication and identity verification checks. Additionally, for businesses moving online, legal binding documents would be essential for governing and accepting this transition. This led to a substantial requirement for solutions that offer security to sensitive documents online.


RESTRAINING FACTORS


Lack of Integrated Digital Signature Experience Limit the Market Growth


Despite growing popularity and adoption, authentication issues also arise when companies use e-signature solutions for contracts. An e-signature may be copied easily as a wet-ink signature, which creates a difference in the authenticity of an e-signature. Additionally, cyber-attacks across organizations due to the absence of proper care, altering the document's content, re-create the signature and attaching to the changed document cause damage to a business status, internal controls, and bottom line.


Thus, lack of authentication of signatures by organizations hinders the Europe digital signature market growth.


KEY INDUSTRY PLAYERS


In terms of the competitive landscape, EDICOM, Ascertia, Yousign, Alohi, TrustPro QTSP Limited, and CM.com are the key players in the Europe market. They are focused on strengthening their product portfolio, active involvement in R&D investments, and distribution network through strategic collaboration and partnerships for the acceleration of product launches, thereby increasing the Europe digital signature market share.


LIST OF KEY COMPANIES PROFILED:



KEY INDUSTRY DEVELOPMENTS:



  • January 2023: InfoCert S.p.A., an Italian Tinexta S.p.A. Group, acquired Ascertia to serve Trust Service Providers (TSPs) to other providers in the market. This acquisition will provide vital support to strengthen its products and services in the PKI and digital signature space.

  • August 2022: Ascertia launched its Ascertia SigningHub on Zapier, a workflow automation provider, enabling businesses to simplify processes and increase productivity. SigningHub will be available in Zapier for cloud-based solutions and tools, including Google drive, Outlook, Office 365, and Xero to benefit from using digital signatures for their business.


REPORT COVERAGE


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The Europe digital signature market research report provides qualitative and quantitative insights into the market and a detailed analysis of the Europe market size & growth rate for all possible segments in the market. Along with the Europe market forecast, the research report elaborates on the market dynamics and competitive landscape. Various key insights presented in the report are an overview of the adoption of technology, an overview of price analysis, an overview of the regulatory scenario by key countries, new product launches, key industry developments, mergers, acquisitions & partnerships, and the impact of COVID-19 on the market.


Report Scope & Segmentation






























































  ATTRIBUTE



 DETAILS



Study Period



2019-2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023-2030



Historical Period



2019-2021



Growth Rate



CAGR of 37.5% from 2023 to 2030



Unit



Value (USD Billion)



Segmentation



By Deployment, Enterprise Type, Level, End User, and Country



By Deployment




  • Cloud

  • On-Premise



By Enterprise Type




  • Small Medium Enterprise

  • Large Enterprise



By Level




  • Advanced Electronic Signatures (AES)

  • Qualified Electronic Signatures (QES)



By End User




  • BFSI

  • IT & Telecommunication

  • Government

  • Healthcare and Life Science

  • Education

  • Retail

  • Real Estate

  • Others (Defense & Legal)



By Region




  • Europe (Deployment, Enterprise Type, Level, End User, Country)


    • UK (By End User)

    • Germany (By End User)

    • France (By End User)

    • Italy (By End User)

    • Spain (By End User)

    • Russia (By End User)

    • Benelux (By End User)

    • Nordics (By End User)

    • Rest of Europe (By End User)







Frequently Asked Questions

Growing at a CAGR of 37.5%, the market will exhibit steady growth in the forecast period (2023-2030).

Increased demand in the e-commerce industry is the major factor driving the market's growth.

EDICOM, Ascertia, Yousign, Alohi, TrustPro QTSP Limited, and CM.com are the major market players in the Europe market.

Germany dominated the market in 2022.

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