Market Analysis
The global digital transaction management market is predicted to touch USD
5.552.91 million at a healthy CAGR between 2017- 2023 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.
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.
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.
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