The global digital transaction management market revenue totaled ~US$ 2,385.0 Mn in 2021, according to Future Market Insights (FMI). The overall digital transaction management market is expected to reach ~US$ 16,284.8 Mn by 2028, growing at a CAGR of around 31.7% for 2022 – 28.
Digital Transaction Management (DTM) solution is estimated to be nearly 45% of global document management market. Increase in the adoption of digital transformation technologies is the major factor driving the market growth. DTM is the part of the cloud services specially designed to manage the digital document based transactions. Digital transaction management delivers numbers of benefits to the enterprises, which include collaborative document management and optimizing document-based tasks for better customer experience. Enterprises can use DTM solutions in multiple segments, such as HR, sales, finance, IT, legal, and procurement.
Digital transaction management market is growing rapidly, and an increasing number of enterprises and organizations are adopting the solutions. Automotive, manufacturing, BFSI and telecommunication are significant industries adopting the DTM solutions. Also, the digital transaction management developers are focusing on the collaboration with cloud service providers as the potential of digital documents is complemented by cloud computing to perform real-time documents monitoring and debugging.
Click the link to get a free Sample Copy of the Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-5660
Developed countries are working continuously on transforming their paper work into digital means. Nowadays, several regions are receiving investments from companies for the adoption of digital transaction management solutions and services. The governments of several countries are primarily focused on adopting digital transaction management software and tools for security, accessibility, privacy, universality, scalability and interoperability. Companies are working on implementing new technologies, such as electronic signatures and workflow automation, especially in the BFSI and transportation sectors.
To understand and assess the demand and opportunities in the digital transaction management market, the report is categorically split into digital transaction management market analysis by component, vertical, end user and by region. Digital transaction management market analysis by component comprehensively analyses the market on the basis of solutions and services analysis in terms of value for 2018-2028. Digital transaction management market analysis by vertical analyses the digital transaction management market on the basis of retail, BFSI, healthcare, IT & telecommunication, travel & transportation, manufacturing, government and others. Digital transaction management market analysis by end user analyses the digital transaction management market on the basis of large enterprises and small and midsized enterprises.
In 2017, the solutions segment dominated the digital transaction management market followed by the services segment. Moreover, the solutions segment is projected to expand at the fastest CAGR of 30.9% over the forecast period in the digital transaction management market in terms of revenue, followed by the services sub-segments.
The section market analysis by vertical analyses the digital transaction management market based on different segments and data is provided in terms of value for 2018-2028. The retail sub-segment of the digital transaction management market is expected to expand at a significant CAGR of 30.5% in terms of value during the forecast period. In terms of digital transaction management market share, the BFSI segment accounted for a major percentage of the revenue share of the overall digital transaction management market in 2017, and is also expected to dominate the digital transaction management market throughout the forecast years.
Digital transaction management market analysis by region includes an in-depth country-level analysis of all the global regions, namely North America, Latin America, Western Europe, Eastern Europe, SEA & Others of APAC, China, Japan and the Middle East & Africa, as well as countries in these regions, and provides market data in terms of value for 2018-2028 for the digital transaction management market. In 2017, the digital transaction management market in North America dominated the overall global digital transaction management market, followed by the market in Western Europe.
Digital Transaction Management Outlook by Category
- Digital Transaction Management Solutions
- Digital Transaction Management Services
- Large Enterprises
- Small and Midsize Business
- IT & Telecommunication
- Travel & Transportation
- North America
- Latin America
- Western Europe
- Eastern Europe
- SEA and Others of APAC
- Middle East and Africa (MEA)
To gain more insights into the market with a detailed table of content and figures, click here: https://www.futuremarketinsights.com/toc/rep-gb-5660
Key players reported in this study on the global digital transaction management market are Adobe Systems Incorporated; Namirial SPA; DocuSign Inc.; Nintex Global Ltd.; HELLOSIGN; ZorroSign, Inc.; AssureSign LLC; ThinkSmart LLC; Kofax, Inc. and eOriginal, Inc.
Key Questions Answered in the Report
- Which region is expected to showcase high demand for digital transaction management?
– China is projected to register strong growth in the market, exhibiting a CAGR of nearly 30.3% from 2022-2028.
- Who are some of the leading companies offering digital transaction management solutions?
-Adobe Systems Incorporated, Namirial SPA, DocuSign Inc., Entrust Datacard Corporation, and OneSpan among others, are the top 5 digital transaction management solution and service providers. They are likely to account for over 25% of the global market.
- In which industries the adoption of digital transaction management growing?
-BFSI segment is expected to dominate the market over the forecast period, generating a maximum revenue among all industries by the end of 2028.
- How much is the global market for digital transaction management worth?
-The market for digital transaction management was valued at ~US$ 2,385.0 Mn in 2021, and is estimated to grow at a steady pace with a CAGR of around 31.7% to reach ~US$ 16,284.8 Mn by 2028.
- What is driving demand for digital transaction management?
– Increase in the adoption of the digital document workflows and collaborative document management across enterprises happens to be the major factor driving the market growth.