Digital transaction management market Growth, Industry Analysis, Business Opportunities and Latest Innovations
Market Analysis
The global digital
transaction management market
size is predicted to touch 25.31 Billion at a healthy
CAGR 25.4% in 2030 states the recent Market Research Future (MRFR)
analysis. Digital transaction management or DTM is a process to manage routine
documented-based tasks with the help of electronic means. It offers
organizations with an array of benefits such as enhanced customer experience
and reduction in transaction time. Some of its basic elements include
electronic signature, assembly, automation or workflow, and others. Workflow
automation, authentication, e-signature, non-repudiation, and others are the
different types of digital transaction management types that have extensive
applications in BFSI, media and entertainment, healthcare, IT and
telecommunication, government, travel and transportation, retail, and others.
Various factors are propelling the global digital transaction management
market share. As per the current MRFR report, such factors include the rising
popularity of digital payment modes, increasing internet penetration, an
increase in digital payment modes during COVID-19 pandemic, and constant
adoption of digital solutions for automation & management of business &
transaction management.
On the flip side, data security issues due to third party
involvement, concerns about complications, and lack of awareness about common
DTM standards are factors that may impede the global digital transaction
management market growth over the forecast period.
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Key Players
Key contenders profiled in the global digital transaction
management market report include eOriginal (U.S.), eSignLive (U.S.), ZorroSign
(U.S.), EuroNoVate (Switzerland), Assuresign (U.S.), ThinkSmart (U.S.),
Namirial Spa (Italy), Insight Enterprise Inc. (U.S.), and DocuSign Inc. (U.S.),
and others. Industry players have encompassed strategies such as partnerships,
joint ventures, mergers and acquisitions, strategic alliances, geographic
expansions, and others to stay at the forefront.
Market Segmentation
The MRFR report provides an inclusive segmental analysis of the
global digital transaction management market report based on 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 is
segmented into workflow automation, authentication, e-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
telecommunication, government, travel and transportation, retail, and others.
Of these, the BFSI segment will command the largest share over the forecast
period.
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Regional Analysis
Based on the region, the global digital transaction management
market report covers the growth opportunities and recent trends across the Asia
Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Of
these, North America will have the lions share in the market over the forecast
period. The presence of key players, rapid adoption of modern technology, and
the region being an economic powerhouse are adding to the global digital
transaction management market growth 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
predicted to hold the second-largest share over the forecast period. The good
economic strength of the region is adding to market growth. The UK has the
utmost share in the market.
The digital transaction management market in the APAC region is
predicted to grow at a fast pace over the forecast period. Rapid growth rate
and expanding IT sector are adding to the global digital transaction management
market growth in the region.
The global digital transaction management market in the RoW is
predicted to have slow growth over the forecast period for the lack of digital
solutions.
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