Who Are The Key Companies/Players In The Digital Transaction Management Market By 2030?

 Digital Transaction Management Industry Overview

The global digital transaction management market size was valued at USD 8.04 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 25.5% from 2022 to 2030. The growth of the market can be attributed to the paradigm shift toward workflow and process automation across numerous industries and industry verticals. Enterprises across the globe are looking forward to adopting efficient and seamless business methods, which can be implemented irrespective of the location. As such, Digital Transaction Management (DTM) solutions can help organizations in improving customer experiences while reducing transaction times, thereby creating opportunities for the growth of the market over the forecast period.

The strong emphasis businesses across the globe are putting on eliminating the conventional approaches and paperwork associated with the management of various business activities is expected to accentuate the growth of the market. At the same time, advances in technology are paving the way for more secure and reliable digital transaction management solutions. For instance, blockchain technology offers a series of timestamped data archives in the form of a chain linking together all the archives. In other words, digital transaction management solutions based on blockchain technology using a decentralized network can potentially prevent malicious attacks.

Gather more insights about the market drivers, restrains and growth of the Global Digital Transaction Management market


The continued adoption of various practices and electronic tools by businesses across the globe to optimize routine document-based tasks is expected to propel the growth of the market over the forecast period. The increasing need for secure record filing is also expected to contribute to the growth of the market. Businesses are focusing on adopting digital transaction management solutions as these solutions cover all the aspects of document lifecycle from creation to storage. Digital transaction management solutions also help in ensuring easier, faster, and safer business processes.

The increasing adoption of cloud-based services across the globe is expected to create growth opportunities for the market over the forecast period. A consistent approach toward cloud-based filing management and storage can potentially lay the foundations for paperless documentation. Furthermore, indexing, document capture, safe sharing and access control, searching and retrieval, encryption, integration, and backup capabilities are considered the main components of document management systems and the essentials for digital transaction management. Apart from these, content analytics capabilities in digital transaction management solutions can also help businesses in eliminating redundant data entries.

However, online services and solutions based on digital technologies are often vulnerable to cyberattacks and fraud. Online transactions are typically subjected to fraudulent activities, such as merchant and triangulation frauds, identity thefts, phishing, affiliate and clean frauds, counterattacks, and pagejacking. As such, the growing concerns over fraudulent transactions and cyberattacks are expected to hinder the growth of the market over the forecast period. The growing instances of security breaches and cyberattacks to default digital transactions are particularly anticipated to take a toll on the demand for digital transaction management solutions.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

  • Blockchain Technology Market - The global blockchain technology market size was valued at USD 5.92 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 85.9% from 2022 to 2030. The market growth can be attributed to the increasing venture capital funding in blockchain technology companies.

 

  • Smart Home Automation Market - The global smart home automation market size was valued USD 46.15 billion in 2016 and is expected to gain traction over the forecast period owing to its rapid adoption across residential applications. The increasing demand for features such as the convenience of remote operation and exceptional experience offered by smart home automation is likely to propel the global market growth over the forecast period.


Digital Transaction Management Market Segmentation

Grand View Research has segmented the global digital transaction management market based on covid-19 impact, component, solution, end-user, vertical, and region:

  • Component Outlook (Revenue, USD Million, 2017 - 2030)
    • Hardware
    • Software
    • Services

 

  • Solution Outlook (Revenue, USD Million, 2017 - 2030)
    • Electronic Signatures
    • Workflow Automation
    • Authentication
    • Document Archival
    • Others

 

  • End-user Outlook (Revenue, USD Million, 2017 - 2030)
    • Large enterprises
    • SMEs

 

  • Vertical Outlook (Revenue, USD Million, 2017 - 2030)
    • Retail
    • BFSI
    • Healthcare
    • IT & Telecom
    • Government
    • Real Estate
    • Utilities
    • Others

 

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)


Market Share Insights

  • September 2021: OneSpan announced that BankID, a personal electronic ID for signing online and securing identification used by all the banks in Norway, has implemented anti-fraud and cloud authentication solutions from OneSpan in its operations.
  • June 2021: Nintex acquired AssureSign, an electronic signature pioneer and digital transaction management (DTM) software provider, to meet customer demand for a native eSignature capability within the Nintex Process Platform.


Key Companies profiled:

Some prominent players in the global digital transaction management market include

  • Adobe
  • Ascertia
  • DocuFirst
  • DocuSign Inc.
  • eDOC Innovations
  • Entrust Corp.
  • Wolters Kluwer N.V. 
  • Kofax Inc.
  • Nintex UK Ltd.
  • OneSpan

 

Order a free sample PDF of the Digital Transaction Management Market Intelligence Study, published by Grand View Research. 

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