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Digital Transaction Management Market Size 2022- Advance Study Focusing On Analysis Latest Trends Till 2030

The market is projected to grow at a CAGR of 21.5%, earning revenues of around USD 31.13 billion by the end of 2028


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Shambhavna jain

a year ago | 6 min read

A recent study conducted by the strategic consulting and market research firm ,Report Ocean, revealed that the Global Digital Transaction Management Market was worth USD 7.79 billion in the year 2021. The market is projected to grow at a CAGR of 21.5%, earning revenues of around USD 31.13 billion by the end of 2028. The Global Digital Transaction Management Market is booming because of the increasing adoption of various techniques and electronic tools by organizations around the world to optimize everyday document-based processes. One of the factors driving the rise in consumers of digital transactions and the shifting dynamics of digital financial solutions is the expanding use of mobile phones. For instance, transaction gateways have sped up the transaction process.

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In addition, it is anticipated that the growing necessity for secure record filing is anticipated to add to the demand for DTM solutions. Furthermore, the Global Digital Transaction Management Market is one of the most emerging markets that grow continuously owing to the fast integration of new technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), cloud computing, and others. However, end users of DTM solutions in particular are very concerned about data security and privacy. As a result, it is anticipated that the demand for DTM solutions is negatively impacted by the rising number of cyberattacks and security breaches in digital transactions.

Banking Procedures in the BFSI Sector that are Quick and Simple

The BSFI sector is rapidly expanding. DTM is well-liked in the banking and financial industries because of its role in minimizing paperwork and promoting quick and easy banking transactions. Additionally, several banks have begun using digital transaction banking solutions, which primarily aid in reducing dependency on traditional banking channels, having a greater impact on mobile banking, and enhancing personalization. The solutions also simplify the execution of common tasks including transfers and payments, liquidity management, and payroll processing. Additionally, since more consumers prefer digital banking options, the financial services and insurance sectors are gradually embracing digital solutions.

Rapid Technological Progress Hastened Market Expansion

Technological advancements are facilitating the creation of more secure data transaction management solutions. For example, blockchain technology provides a chain of time-stamped data records that connects all information. Every transaction can be viewed as proof of approval provided by a user who initiated it with a digital signature. Furthermore, to defend against hostile attacks, blockchain-based digital transaction management systems use a decentralized network for transaction management. Electronic signature technology may hypothetically replace a handwritten signature in any process. It also helps to increase productivity, speed up transactions, and lower the overall cost of business operations. This results in offering lucrative opportunities for the Global Digital Transaction Management Market during the forecast period (2022-2028).

Challenge: Worrying About Hackers and Fraudulent Purchases

Data security and information privacy are major issues, particularly for DTM system end users. As a result, the increased amount of cyberattacks and security breaches in digital transactions is expected to have a negative influence on demand for DTM solutions. However, online services and solutions based on digital technology are frequently vulnerable to fraud and hacking. Counterattacks, pagejacking, affiliate and clean scams, phishing, merchant, and triangulation frauds, and identity theft are all common targets of fraudulent behavior. As a result, the market’s expansion is expected to be impeded throughout the forecast period by increased concerns about fraudulent transactions and cyberattacks. It is expected that there would be an increase in security breaches and cyberattacks that result in defective digital transactions.

Segmental Coverage

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Global Digital Transaction Management Market – By End-User

Based on end-user, the Global Digital Transaction Management Market is segmented into Large Enterprises and SMEs. Among these, the large enterprise segment holds the largest market share. Coordination of transaction workflows and the assurance of reliable and cost-effective business processes are becoming increasingly important in large enterprises. Large corporations are also more prone to use transaction management DTM systems. This influences the large enterprise’s segment to dominate the market share in the upcoming years.

Impact of COVID-19 on Global Digital Transaction Management Market

Globally, the market has profited from the forced adjustments in consumer and business spending patterns brought on by the COVID-19 epidemic. As the importance of contactless transactions for purchases has grown, mobile wallet use has rapidly expanded. To prevent the spread of COVID-19, many customers have experimented with mobile wallets in place of cash and card transactions. The increasing global online penetration is another important element driving the growth of the digital transaction management industry. During the COVID period, more people use video streaming services like Netflix and Hotstar. The subscription fees for these programs can easily be paid with digital payment methods. Furthermore, the e-commerce industry flourished during this epidemic time. E-commerce sites such as Flipkart, Myntra, and Amazon have restricted cash payments and are urging consumers to make digital purchases to protect both customers and employees. All of the aforementioned factors are contributing to the global expansion of the market. Even after the COVID-19 problem, consumers were accustomed to digital transactions for the simplicity of access and to keep the sickness from spreading.

Competitive Landscape

The leading market players in the Global Digital Transaction Management Market are Adobe, Ascertia, DocuFirst, DocuSign Inc, eDOC Innovations, Entrust Corp, Kofax Inc, OneSpan, Wolters Kluwer N.V, Nintex UK Ltd, eOriginal Inc, and other prominent players. The Global Digital Transaction Management Market is highly fragmented with the presence of several manufacturing companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.

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Market Segment:

By Component (Hardware, Software, Services)

By Solution (Electronic Signatures, Workflow Automation, Authentication, Document Archival, And Others)

By End-User (Large Enterprises, SMES), By Vertical (Retail, BSFI, Healthcare, It & Telecom, Government, Real Estate, Utilities, Others)

By Region (North America, Europe, The Asia-Pacific, Latin America, The Middle East And Africa)

Dont miss the business opportunity in the Global Digital Transaction Management Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Global Digital Transaction Management Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Digital Transaction Management Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Table of Content:

  • Report Overview
  • Global Growth Trends
  • Competition Landscape by Key Players
  • Data Segments
  • North America Market Analysis
  • Europe Market Analysis
  • Asia-Pacific Market Analysis
  • Latin America Market Analysis
  • Middle East & Africa Market Analysis
  • Key Players Profiles Market Analysis
  • Analysts Viewpoints/Conclusions
  • Appendix

Key Reasons to Buy this Report:

  • Access to date data compiled by means of our researchers. These grant you with historic and forecast data, which is analyzed to inform you why your market is set to change
  • This allows you to expect market adjustments to continue to be in advance of your competitors
  • You will be in a position to replica information from the Excel spreadsheet straight into your advertising plans, commercial enterprise presentations, or different strategic documents
  • The concise analysis, clear graph, and desk structure will allow you to pinpoint the records you require quickly
  • Provision of market cost (USD Billion) records for every phase and sub-segment
  • Indicates the area and section that is predicted to witness the quickest increase as nicely as to dominate the market
  • Analysis through geography highlighting the consumption of the product/service in the area as nicely as indicating the elements that are affecting the market inside every region
  • Competitive panorama which contains the market rating of the predominant players, alongside with new service/product launches, partnerships, commercial enterprise expansions, and acquisitions in the previous 5 years of organizations profiled
  • Extensive business enterprise profiles comprising of business enterprise overview, employer insights, product benchmarking, and SWOT evaluation for the primary market players
  • The cutting-edge as nicely as the future market outlook of the enterprise regarding current traits which contain boom possibilities and drivers as properly as challenges and restraints of each rising as nicely as developed regions
  • Includes in-depth evaluation of the market from quite a number views via Porter’s 5 forces analysis
  • Provides perception into the market via Value Chain
  • Market dynamics scenario, alongside with boom possibilities of the market in the years to come, 6-month post-sales analyst help

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