The Digital Transaction Management Market is Expected to Reach

NEWARK, Del, Sept. 26, 2022 (GLOBE NEWSWIRE) — The global digital transaction management market is expected to reach a valuation of US$47.170 million in 2032, with the market expanding rapidly at a staggering CAGR of 31.7 % over forecast period 2022 to 2032. Supported by the massive demand for Digital Transaction Management (DTM) solutions in the global space, the market for such solutions is likely to reach around US$3,129 million by the end of 2022. The increasing use of digital transformation technologies is further increasing the growth of the market.

DTM is one of the cloud services specially developed to manage document-based digital transactions. Digital transaction management is beneficial to many organizations in several ways, such as collaborative document management and document-based process optimization that help improve customer experience. HR, finance, sales, IT, legal and purchasing are some areas where DTM solutions have proven very useful.

In the recent past, the emphasis has been on modernizing the workplace, removing traditional techniques and red tape. These factors have opened up numerous lucrative opportunities for the digital transaction management market. In addition to this, constant innovation and technological advancements are creating more secure and reliable digital transaction management systems, which further facilitates market growth.

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Additionally, the increased use of cloud-based solutions is expected to bode well for the digital transaction management market. A cloud-based system optimizes workflow management for large and small businesses and helps make managing digital transactions affordable and less complicated. Additionally, features such as document capture, indexing, secure sharing and multi-factor authentication, encryption, search and retrieval, integration and backup are driving the demand for digital transaction management on the world market during the evaluation period.

In order to improve their revenue and profitability, more and more companies are adopting digital transaction management solutions and services. With the rapid growth of the target market, it is likely to assimilate a large portion of paper documents into its midst in the near future. All of these factors suggest a positive market environment for managing digital transactions.

“Continuous integration and implementation of different technologies is expected to drive the global digital transaction management market growth over the forecast period,” says an IMF analyst.

Key points to remember:

  • The profitability associated with the adoption of digital transaction management facilitates the growth of the market.
  • The risk of cyberattacks and security breaches may hamper the growth of the market.
  • By component type, the solutions category is expected to dominate the market.
  • In 2022, the large enterprise sub-segment will hold around 34.5% market share.
  • The BFSI sector will acquire 22.5% market share by the end of 2022.
  • Presence of major key players to drive the growth of the market in North America.
  • The Asia Pacific Digital Transaction Management Market will register a CAGR of 31%.

Competitive landscape

Adobe Systems Incorporated, Namirial SPA, DocuSign Inc., Nintex Global Ltd., HELLOSIGN, ZorroSign, Inc., AssureSign LLC, ThinkSmart LLC., Kofax, Inc., eOriginal, Inc., OneSpan, Mitek, Entrust Datacard Corporation, and DocuFirst. , and others are some of the major Digital Transaction Management Market players profiled in the full version of the report.

Major market players are focusing on product improvements by releasing new features. Strategic collaborations, mergers and acquisitions are also deployed by these companies.

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More information about the Digital Transaction Management Market report

In its latest report, IMF offers an unbiased analysis of the global Digital Transaction Management market, providing historical data from 2017 to 2021 and forecast statistics from 2022 to 2032. To understand the potential, growth and scope of the global market , the market is segmented based on component (solutions, services), end user (large enterprises, small and medium enterprises), vertical (retail, BFSI, healthcare, IT and telecommunications, travel and transport, manufacturing, government, other) and region.

According to the latest IMF reports, based on the region, the digital transaction management market in the Asia-Pacific region is expected to flourish during the forecast period. The regional market is expected to witness a prolific CAGR of 31% during the period 2022-2032. This growth can be attributed to the high usage of the target product in countries like India and China. With the expansion of the e-commerce industry in these countries, the target market will also grow and develop at a rapid pace.

Based on segmentation, solution components segment is likely to dominate the market. In terms of end user, large enterprises are expected to dominate the market over the forecast period.

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Contents

1. Summary

1.1. Market overview

1.2. Market analysis

1.3. MFI analysis and recommendations

1.4. Wheel of Fortune

2. Presentation of the market

2.1. Market definition

2.2. Market Taxonomy

3. Market Context

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