Businesses are focusing their efforts on digital transformation. In their quest to incorporate technological tools, electronic signature software offers effective management, with competitive and differentiating features. The forecast for 2030 shows a significant growth of this technology.
Financial institutions, educational institutions, freelancers, SMEs… the electronic signature market is booming thanks to its integration in cases such as those mentioned above, both in the public and private sectors. They are realizing its value as a solution for themselves and third parties. So they are not hesitating to benefit from it, saving costs, streamlining processes and gaining a great deal of security.
But this is not a momentary situation. In the medium and long term, this digital solution will continue to grow, reaching a value of more than $39.33 billion by 2031. We show you what circumstances will drive its growth and an overview of its forecast in 2030.
Factors driving the e-signature market
Remote collaboration
Variables such as remote or hybrid work, and the daily grind, force businesses and their workers to provide answers for business continuity. Along these lines, at the operational level, electronic signatures facilitate the day-to-day operations of all companies, regardless of their size and the sector in which they operate.
They streamline processes and promote the fluid exchange of documents, without several people having to meet physically to sign them. Are you an HR manager and someone from the sales team has to give you a signature, or are you self-employed and want to manage contracts with your suppliers? In these cases, the electronic signature solves the problem for you, and we are sure that it will do the same for you.
Greater security and authenticity in the processes
It is no news that more and more purchases are made online. According to Oberlo, by 2024, more than 2.7 billion people will be shopping online. However, these transactions are not without fears of fraud. Many trust in the simplicity of mobile shopping, but the truth is that, in the last year alone, 48% of Spaniards have suffered scams or attempted scams (CIS, 2024).
To this end, digital signature APIs are positioned as the safest tool for online shopping, as they contain authentication encryption that guarantees the security of transactions. They also protect against identity theft crimes, as they verify the identity of the signers. With biometric signatures, they collect biometric data such as pressure, orientation or stroke speed, which uniquely identifies you. Of course, it has the same or greater legal validity than a handwritten signature, so there is no reason why it should not be accepted.
Electronic signature forecast in 2030, a regional view
We know the factors that will drive it, but we haven’t yet told you in which regions it will have the greatest momentum. We tell you which will be the main areas that will see benefits over the 2030 forecast for digital signatures:
Europe
Europe was one of the first regions to adopt e-signature systems at the enterprise and institutional level. Since its incorporation, it has created infrastructures that give it value and regulations that regulate it, with the aim of creating a large industry. The elDAS Regulation, in 2014, regulated it and gave it legal validity, making it equivalent to the handwritten one.
Now, its evolution, elDAS 2, will establish a framework for European digital identity and encourage more countries to adopt it in everyday life. Its use is expected to reach the general population.
North America
Across the pond, in North America, the market is forecast to reach revenues of $35.7 billion by 2030. If realized, it would register an annual rate of 34.2% between 2022, where the market was valued at $1.01 billion.
This growth may be related to the fact that a large number of companies in the area have their origin in this subcontinent. It is therefore not surprising that electronic signatures are valid in all its territories and states. At present, North America is the second largest shareholder in terms of market share.
Latin America
The region is looking to transform itself digitally. Factors such as post-covid remote work, the new digital habits of young people and the need to secure data will drive the adoption of new technological tools. We are already seeing major transformations in workflows and business processes. These are changes that require the agility, verification and opportunities of digital signatures, so its use will also grow in the region.
Asia
The world’s largest continent also stands to benefit from the forecast in 2030. These digital solutions may also be boosted by changing shopping habits. As of today, Asia’s e-commerce is the fastest growing and that trend will continue to rise at least until 2030.
Factors such as the expanding middle class are contributing to growth forecasts; specifically, electronic payments are expected to increase by 76% between 2035 and 2030 (Payments 2025 & Beyond report, Pwc). But for transactions to grow, they must be secure. If you recall, this is one of the factors that will shape the growth curve of e-signatures.
Get ahead of the future with Viafirma’s digital solutions
We know what will be the forecast in 2030 of the electronic signature, but why wait for the change to arrive? Get ahead with us and innovate in your sector. Clients from the real estate, retail or public sector, among many others, have trusted Viafirma’s digital solutions to digitize their company and gain efficiency.