Hybrid Work Model Leading To Europe E-Signature Market Boom

Since the outbreak of COVID-19, a great shift has been witnessed in the global work culture. Owing to the existence of advanced technologies and high-speed internet, economies could deal with the disruption in the functioning of numerous industries, with the mass adoption of remote work policies. Due to this factor, the revenue generated by the European e-signature market was $711.8 million in 2021. It will advance at a massive CAGR of 34.9% from 2021 to 2030 and reach $10,504.7 million by the year 2030.

It is believed by European business leaders that organizations that have shifted to hybrid work models are more profitable. Indeed, remote working and hybrid work models are the major drivers of the European e-signature market. The rising in the volume of online documentation processes, cost-effectiveness of e-signatures, and favorable government laws have played a great role in the growing trend of remote working even after the lifting of COVID-19 lockdowns. The increased efficiency, cost savings, timeliness, instant support, and many other benefits have made it feasible to shift to hybrid work models for the long term.

Europe E-Signature Market Report 2022-2030

The constantly growing e-commerce sector is creating more opportunities in the European e-signature market. Businesses are shifting their processes online, and e-signatures are required to legally bind documents, to govern and facilitate the accommodation of such transition. Security, being the major concern here for sensitive documents, needs a significant solution. The rise in the internet penetration has also resulted in a significant increase in the cyber-crime prevalence, such as theft of information and money and online fraud. Since online transactions have made merchant processes easier, their volume is significantly increasing.

In the European e-signature market, the U.K. held a 20% revenue share in 2021, the largest in the continent. It is because e-signatures are widely being utilized for online identification in the country, as they are crucial for services facilitated by the World Wide Web. In order to identify the individual through his or her documents, such as passport, photo ID card, and driving license, there is a specific platform. It has made it easier for the residents of the U.K. to access government services, such as filing for tax or tracking application status.

Hence, the increased efficiency and cost-effectiveness provided e-signatures are the major driving factors behind the boom in the market.

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Rapid Urbanization Driving Europe Water Pump Market Growth

The rising urbanization rate, surging consumer expenditure, and depleting groundwater levels are expected to drive the European water pump market at a CAGR of 1.8% during 2020–2030. The market revenue is projected to grow from $707.2 million in 2020 to $848.3 million by 2030. The groundwater level of Europe is declining rapidly, due to the rising temperature, on account of global warming. The National Aeronautics and Space Administration (NASA) states that the 2019–2020 winter in the region was warmest hitherto, owing to which there was little snow and spring was drier and warmer than normal.

The water pump demand in Europe is primarily driven by the accelerating urbanization rate in the region. According to the World Bank, the urban population of the European Union (EU) nations surged from 334,222,735 in 2019 to 335,651,231 in 2020. As per the organization, nearly 0.427% of the EU population resided in urban areas in 2020. With the booming urban population, governments of EU countries are focusing on improving the existing utility water and drinking water infrastructure.

Presently, the players in the European water pump market are introducing new products to gain a competitive edge. For instance, in March 2021, Ebara Corporation introduced the EVMS-K, a new model pump, for the European populace. This product integrates the EVMS model with the E-SPD inverter model. This pump is integrated with an inverter that helps in saving energy of the motor, simplifying writing and installation, saving installation space, and increasing the efficiency of pumps.

According to P&S Intelligence, Germany accounted for the largest share in the European water pump market in 2020. This was due to the presence of stringent wastewater treatment laws, which need to be adhered to, even by the domestic treatment facilities in the country. Moreover, the increasing need to lower the energy consumption of pumps in water and wastewater treatment plants is expected to drive the demand for energy-efficient water pumps in the country. 

Therefore, the accelerating urbanization rate and lowering groundwater levels will augment the demand for water pumps in Europe.

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