North America dominated the market over the forecast period. It is valued at USD 2,755 million in 2021. It is expected to reach USD 16710 million by 2030 at a CAGR of 22%. The global digital transaction management market size market was valued at USD 7920 million in 2021. By 2030, it is predicted to reach USD 51285 million with a CAGR of 23% during the forecast period (2022-2030).
/EIN News/ — New York, United States, June 22, 2022 (GLOBE NEWSWIRE) — By digitizing the entire process in a reliable, rapid, and confidential manner, digital transaction management services have the potency to accelerate the practice of signing corporate contractual agreements. Its capabilities have progressed from basic tasks like e-Signatures and paperless procedures to more intricate DTM processes like workflow and content automation. It automates activities that many businesses have traditionally done on paper, such as proposals, collaborations, inquiries, data compiling, and agreements. The capacity to handle user documents and document-based work activities via digital systems for service management optimization, governmental entities, non-profits, businesses, and others is its significant aspect. Aside from accelerating company activities, digital transaction management can also help to reduce errors and costs.
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Deployment of Electronic Devices by Numerous Enterprises to Drive the Global Digital Transaction Management Market
Digital transaction management solutions help make business procedures more accessible, faster, and secure. It is far less costly and considerably simpler to carry out. Most businesses, large and small, strive to streamline their operations. Also, content analytics tools in digital transaction management services can help companies reduce inaccurate data entry. Several enterprises are on hand to supply cutting-edge solutions to help businesses stand out in the competitive DTM sector. In addition, cloud-based transaction solutions are leading the industry.
Businesses are interested in digital transaction management systems since they cover all aspects of the document lifecycle, from creation to retention. The increased acceptance of various methodologies and technology devices by organizations worldwide to optimize day-to-day document-based processes is expected to fuel market growth over the forecast period.
Growing Use of Digital Transactions to Provide Lucrative Opportunities for the Global Digital Transaction Management Market
Several organizations are on hand to give cutting-edge alternatives to help businesses stand out in the competitive DTM sector. In addition, cloud-based commerce systems are dominating the industry. Using cloud-based technology, individuals and teams can interact and share document-based transactions.
Similarly, even well-known banking organizations are shifting to digital substitutes to increase payment efficiency. Digital e-signatures, record sharing, and validation are all possible with the DTM system. Furthermore, numerous businesses are creating QES (Qualified Electronic Signature) to provide the highest confidence level for monetary transactions. As a result, the Digital Transaction Management system will contribute to the seamless and fast processing of payments.
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Impact of COVID-19
Covid-19 has had an impact on the majority of enterprises. Many firms have been forced to close due to the need to restrict communication. The great majority have switched to online trading and marketing methods. In contrast, the pandemic has raised the need for digital payments. As a response, the DMT market has expanded dramatically. People prefer electronic purchases since they are faster, remove physical interaction, and guarantee secure transactions. Furthermore, the rapid proliferation of digital entertainment and commerce platforms has aided market growth.
The outbreak of the COVID-19 virus is expected to accelerate the use of digital transaction management systems over the forecast period. Businesses all across the world are emphasizing paperless approvals for permitted transactions as well as ensuring financings. As a result, DTM solutions are projected to acquire traction across various sectors and industry verticals. The increasing acceptance of electronic signatures as part of corporate transactions coincides nicely with market growth.
Based on region, the market has been further segmented as North America, Europe, Asia-Pacific, South America, Middle East, and Africa. North America is expected to continue dominating the market over the forecast period. It is valued at USD 2,755 million in 2021 and is expected to reach USD 16710 million by 2030 growing at a CAGR of 22%. The widespread use of digital transaction management systems to transmit data in an arranged fashion by competitors in various enterprises and market categories in countries such as the United States, Canada, and Mexico can be attributed to the regional market’s growth. The United States, Canada, and Mexico are the early adopters of cutting-edge digital transaction management solutions. The presence of a considerable number of electronic transaction management solution suppliers in the region bodes well for the regional market’s growth over the forecast period.
Over the projection period, Asia-Pacific is estimated to be the fastest regional market. It is valued at USD 1,915 million in 2021 and is expected to reach USD 1376 million by 2030 growing at a CAGR of 24%. The Asia-Pacific is a growing global digital transaction management industry, owing to rising online activity and government measures in various countries. Continued digitalization and government initiatives such as Digital India are expected to drive market growth in India. The expanding amount of SMEs in the Asia-Pacific is likely to provide development opportunities for the regional market over the forecast period.
- The digital transaction management (DTM) market size was valued at USD 7920 million in 2021 and is expected to reach USD 51285 million by 2030, growing at a CAGR of 23% during the forecast period (2022-2030).
- Based on the solution, the market has been further segmented into electronic signatures, workflow automation, authentication, document archival, and others. The electronic signatures segment dominated the market in 2021 and was valued USD 3,030 million. It is anticipated to reach USD 20495 million by 2030, growing at a CAGR of 23% over the forecast period.
- Based on end-use, the market has been further segmented into retail, BFSI, healthcare, IT & telecom, government, real estate, utilities, and others. The BFSI segment generated the highest revenue of USD 2,273 million in 2021. It is expected to reach USD 16056 million by 2030, growing at a CAGR of 24% over the forecast period.
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List of Top Digital Transaction Management Market Companies
- Nintex Global Ltd
- DocuSign, Inc.
- eDOC Innovations
- Entrust Corporation
- OneSpan Inc
- eOriginal, Inc
Global Digital Transaction Management Market: Segmentation
- Electronic Signatures
- Workflow Automation
- Document Archival
- IT and Telecom
- Real Estate
- North America
- South America
- Middle East and Africa
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TABLE OF CONTENT
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions & Exclusions
2.4 Secondary Data Sources
3 Executive Summary
4 Market Overview
4.1 Report Segmentation & Scope
4.2 Value Chain Analysis: Digital Transaction Management Market
4.2.1 Vendor Matrix
4.3 Key Market Trends
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Environment & Regulatory Landscape
4.6 Forecast Factors & Relevance of Impact
4.7 Macro-Economic & Geopolitical Scenario
4.8 Parent Market Overview
4.9 Technology Landscape
4.10 Market Share Analysis
4.11 Potential Venture Analysis
4.12 Regional Price Trends
4.13 Raw Material Trends
4.14 Cost Structure Analysis
4.14.1 Labor Cost
4.14.3 Maintenance Cost
4.15 Covid-19 Impact Analysis:
4.15.1 Pre and Post Covid-19 Market Scenario Analysis
4.15.2 Market Recovery Timeline and Challenge
4.15.3 Measures Taken by Top Players
4.15.4 Quarterly Market Revenue and Growth Forecast till 2021
188.8.131.52 North America
184.108.40.206 Central and South America and the Caribbean
220.127.116.11 The Middle East and Africa
5 Solution Overview
5.1.1 Market Size & Forecast (Value & Volume)
5.2 Electronic Signatures
5.2.1 Market Size & Forecast (Value & Volume)
5.3 Workflow Automation
5.3.1 Market Size & Forecast (Value & Volume)
5.4.1 Market Size & Forecast (Value & Volume)
5.5 Document Archival
5.5.1 Market Size & Forecast (Value & Volume)
5.6.1 Market Size & Forecast (Value & Volume)
6 End User Overview
6.1.1 Market Size & Forecast (Value & Volume)
6.2.1 Market Size & Forecast (Value & Volume)
6.3.1 Market Size & Forecast (Value & Volume)
6.4.1 Market Size & Forecast (Value & Volume)
6.5 IT and Telecom
6.5.1 Market Size & Forecast (Value & Volume)
6.6.1 Market Size & Forecast (Value & Volume)
6.7 Real Estate
6.7.1 Market Size & Forecast (Value & Volume)
6.8.1 Market Size & Forecast (Value & Volume)
6.9.1 Market Size & Forecast (Value & Volume)
7 Regional Overview
7.1.1 Market Size & Forecast (Value & Volume)
7.2 North America
7.2.1 Economic Overview
7.2.2 Market Scenario
7.3 Central and South America and the Caribbean
7.3.1 Economic Overview
7.3.2 Market Scenario
7.3.6 Rest of Central and South America and the Caribbean
7.4.1 Economic Overview
7.4.2 Market Scenario
7.4.5 The U.K.
7.4.7 The Rest Of Europe
7.5 Asia-Pacific (APAC)
7.5.1 Economic Overview
7.5.2 Market Scenario
7.5.7 South Korea
7.5.8 Rest Of APAC
7.6 Middle East
7.6.1 Economic Overview
7.6.2 Market Scenario
7.6.3 South Arabia
7.6.4 The UAE
7.6.8 The Rest Of Middle East
7.7.1 Economic Overview
7.7.2 Market Scenario
7.7.4 South Africa
7.7.5 The Rest Of Africa
8 Competitive Landscape — Manufacturers & Suppliers
8.1 Competition Dashboard
8.2 Industry Structure
8.3 Nintex Global Ltd
8.3.1 Business Overview
8.3.2 Financial Performance
8.3.3 Recent Developments
8.7 DocuSign, Inc.
8.8 eDOC Innovations
8.9 Entrust Corporation
8.10 OneSpan Inc
8.11 eOriginal, Inc
9 Conclusion & Recommendation
10 Acronyms & Abbreviations
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- In June 2021, Nintex UK Ltd announced the acquisition of AssureSign, a company that provides digital transaction management and electronic signature software provider, to meet the customer’s demand for native eSignature capability within the Nintex Process Platform. Through this acquisition, Nintex UK Ltd strengthened its product portfolio.
- In June 2021, Entrust Corporation announced the acquisition of HyTrust, Inc, which provides cloud data encryption. Through this acquisition, Entrust Corporation adds cryptographic keys, a critical management layer for encryption, and a cloud security policy for its digital security solutions, thereby serving the organization’s compliance and data protection needs that accelerate the digital transformations.
- In April 2021, eDoc Innovations, in collaboration with Origence, a company that provides lending technology to financial institutions, announced the roll-out and completion of the e-signature integration with Origence Consumer Loan Origination System (LOS). This integration of Origence Consumer LOS with eDoc’s e-sign solution allowed lenders to generate the loan documents and enable the documents for e-signature, e-delivery, and e-closing capabilities, which, in turn,,, optimized the lending process and improved the borrower experience.
- In March 2021, Entrust Corporation announced the launch of its new Signing Automation Service. This cloud-based digital signing service enables private and public organizations to create tamper-proof electronic documents. Through this launch, the company expanded its product portfolio.
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Article originally published at https://www.einpresswire.com/article/577954486/digital-transaction-management-market-is-projected-to-reach-usd-51-28-billion-by-2030-growing-at-a-cagr-of-23-straits-research
This news story originally appeared at Books - Reality Syndicate Viewers on 29 June 2022