Market Overview
The worldwide digital transaction Management market 2020 can value at above
USD 5,552.91 Mn by 2027 from USD 1,400 Mn in 2020, show study by Market
Research Future (MRFR). The digital transaction management solutions have
significant role to improve efficiency of work processes, plus improve
convenience. This can prompt the expansion of the digital transaction
management market.
The high rise in digital
payment modes due to COVID-19 can cause expansion of the digital transaction
management market. The growing applications of digital transaction is not only
limited to densely populate and technically advanced regions, but their
popularity is surging in the rural areas. This is due to the current
coronavirus crisis, penetration of digital solution, better transparency, and
growing trust on digital payment solutions. These factors are also likely to
prompt the rise of the digital transaction management market.
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On the contrary, the lack
of awareness about common DTM standards can impede the market growth. In
addition, the rise in concerns over complications and data security owing to
third party involvement can also hinder the market rise. Weakening of
cryptography standards, deliberate subverting, and interference from
intelligence agencies can threat the expansion of the world digital transaction
management market in the years to come.
Market Segmentation
To gain a vivid
understanding of the world market of digital transaction management, MRFR
conducted segmental analysis of the market based on application, component, and
type.
The component based,
digital transaction management market segments are services, software, and
hardware.
The type based, digital
transaction management market segments are non-repudiation, e-signature,
authentication, and workflow automation among others.
The application based,
digital transaction management segments are retail, travel &
transportation, government, IT & telecommunication, healthcare, media &
entertainment, BFSI, and others.
Detailed Regional Analysis
Digital transaction
management market in the North America region is expected to boom in the years
to come across the assessment period, reveals regional study by MRFR. The U.S.
is likely to secure the largest share of the regional market due to the
flourishing financial sector. As North America is observed as an economic
powerhouse, plus the existence of major players across the region can prompt
the expansion of digital transactions management market across the review
period. The rapid uptake of modern technology can support the expansion of
North America digital transaction market.
In Europe, the digital
transaction management value can rise exponentially in the UK followed by the
rest of the UK across the review period. The economic strength of Europe can
improve the impetus to the regional market through the review period. In Asia
Pacific, the expansion of the regional digital transaction management can surge
at a rapid growth rate. In India, followed by the rest of APAC, the rise of the
digital transaction management market can be credited to the expansion of the
I.T. sector. The digital transaction management market in the Middle East and
Africa can boom, especially in the Gulf economies. Africa digital transaction
management market is likely to exhibit a moderate rise owing to the lack of digital
solutions.
Dominant Market Players
MRFR registered some
notable digital transaction management market players. Origin and regional
branches, product line, and financial aspects were observed during enlisting
key players of the worldwide digital transactions market. MRFR also discusses
different factors that influenced the competitive landscape of the market.
These key players are; Oracle (U.S.), Apple (U.S.), HP (U.S.), ThinkSmart
(U.S.), IBM Corporation (U.S.), Microsoft Corporation (U.S.), DocuSign Inc.
(U.S.), Intel (U.S.), eSignLive (Canada), Sony Corporation (Japan), and others.
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