Avanquest, the Software Publishing division of Claranova, is investing in the development of a simple and multiplatform stand-alone digital signature solution for professionals, targeting self-employed and small and medium-sized businesses with the launch of SignPDF® solution. This new digital signature solution is the result of five years of development undertaken by the Avanquest R&D teams.
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“Digital Signature Market to Reach USD 7.99 Billion by 2027”
With the launch of SignPDF®, Avanquest confirms its intention to establish itself as Adobe’s number one competitor in PDF software solutions – a strong growth segment for the division with sales up more than 35% over the last 12 months1. A sustained growth path with still significant potential based on:
- More than 60 million visitors to Avanquest’s websites dedicated to PDF tools
- More than 650,000 active users per month
- 90%+ subscription-based sales
- Renewal rate of more than 50%2
- Sales growth related to SOHO and SMBs businesses of more than 25% over the last 12 months
The successful transition to a subscription sales model and the continuous improvement of the operating margin enable Avanquest to expand its PDF solutions portfolio and accelerate its marketing investments to acquire new customers and further grow its installed base. The division will launch this new stand-alone digital signature solution to compete with players such as DocuSign, HelloSign and Yousign with one of the most comprehensive PDF tools on the market.
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According to a recent study by Fortune Business Insights3, the electronic signature market is expected to grow nearly 30% per year between 2020 and 2027 to reach around $ 8 billion in 2027. The US market is expected to capture the largest share of the market while that the European market is expected to drive growth in the coming years.
Small medium-sized companies have until now only complex and expensive professional solutions to choose from, Avanquest aims to better serve this high-potential clientele by offering an easy-to-use, multiplatform (web and mobile) and intuitive tool, making it easier to integrate electronic signatures into their daily tasks. SignPDF® will position itself in the electronic signature market as the simple, flexible and affordable alternative for self-employed and small and medium-sized businesses.
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