Market analysis
The global digital transaction management market size is projected to hit 25.31 billion with a healthy CAGR of 25.4% in 2030, says the recent Market Research Future (MRFR) analysis. Digital Transaction Management or DTM is a process of managing routine document-based activities with the help of electronic means. It offers organizations a number of benefits such as a better customer experience and reduced transaction times. Some of its basic elements include electronic signature, assembly, automation or workflow and others. Workflow automation, authentication, electronic signature, non-repudiation and others are the different types of digital transaction management that have broad applications in BFSI, media and entertainment, healthcare, IT and telecommunications, government, travel and transportation, retail and others.
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Various factors are driving the global market share of digital transaction management. According to the current MRFR report, such factors include the growing popularity of digital payment methods, the increase in internet penetration, an increase in digital payment methods during the COVID-19 pandemic, and the continued adoption of digital solutions for automation and management of business management and transactions.
On the other hand, data security concerns due to third party involvement, concerns about complications and lack of awareness of common DTM standards are factors that could hinder the growth of the global digital transaction management market over the period of forecast.
Key players
Key Competitors Profiled in the Global Digital Transaction Management Size Market Report include eOriginal (United States), eSignLive (United States), ZorroSign (United States), EuroNoVate (Switzerland), Assuresign (United States), ThinkSmart (United States), Namirial Spa (Italy), Insight Enterprise Inc. (United States) and DocuSign Inc. (United States) and others. Industry players have embraced strategies such as partnerships, joint ventures, mergers and acquisitions, strategic alliances, geographic expansions, and more to stay at the forefront.
Market segmentation
The MRFR report provides an inclusive segmental analysis of the global Digital Transaction Management market report by type, component, and application.
By component, the global digital transaction management market is segmented into hardware, software and services. Of these, the hardware segment will lead the market over the forecast period.
By type, the global digital transaction management market Growth is segmented into workflow automation, authentication, electronic signature, non-repudiation, and others. Of these, the e-signature segment will dominate the market over the forecast period.
By application, the digital transaction management market is segmented into BFSI, media and entertainment, healthcare, IT and telecommunications, government, travel and transportation, retail, and others. Of these, the BFSI segment will occupy the largest share in the forecast period.
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Regional analysis
Based on the region, the Global Digital Transaction report covers recent growth opportunities and trends in Asia Pacific (APAC), North America, Europe, and Rest of the World (RoW). Of these, North America will have the lion's share of the market over the forecast period. The presence of key players, the rapid adoption of modern technology and the region being an economic powerhouse are adding to the growth of the global digital transaction management market in the region. The United States holds the largest share in the market for the booming financial sector.
The global digital transaction management market in Europe is expected to hold the second largest share over the forecast period. The good economic strength of the region adds to the growth of the market. The UK has the highest share in the market.
The digital transaction management market in the APAC region is expected to grow at a rapid pace over the forecast period. The rapid growth rate and expansion of the IT industry are adding to the growth of the global digital transaction management market in the region.
The global RoW digital transaction management market is expected to have slow growth over the forecast period due to a lack of digital solutions.
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