Global Digital Transaction Management Market Expected To Grow At A CAGR Of 19.6% During The Forecast Period

The latest market report published by Brisk Insights, “Digital Transaction Management Market: Growth, Future Prospects, and Competitive Analysis, 2019 - 2027” the digital transaction management market was valued at US$ 3.85 Bn in 2018 and expected to grow at a CAGR of 19.6% during the forecast period from 2019 to 2027.

Market Insights

"Growing demand for digital payment gateway modes worldwide will upgrade the market growth during the forecast period"

The continued adoption of digital solutions for automation and management of numerous business process and transaction management systems projected to drive the market growth on a global scale. Additionally, DTM potentially can reduce friction and secure a transaction that involves documents, data, and human intervention. Moreover, DTM allow enterprises for routine task automation, which involves numerous paperwork, thereby freeing resources for more productive tasks, saving time, and achieving faster time-to-revenue cycles.

The digital transaction management (DTM) solutions have significantly evolved from content automation and eSignatures to workflow. Furthermore, DTM vendors are leveraging all improved capabilities to modernize their transaction management processes. Moreover, governments are hostilely investing more towards DTM solutions as a step toward digital governance across the globe. For instance, the government of UK have developed “GOV.UK Pay”, a secure and free online payment service for the government organizations and public sector enterprises.

Advancement in technologies along with concern towards data security & information privacy will enhance the market for digital transaction management

Increase in technological advancement are flagging a way for highly secure and stability based DTM solutions for various applications. For instance, the “Blockchain technology”, offers a series of time stamped data records in the form of a chain, which combined the record links. Additionally, every transaction given by the consumer end through digital signature utilize a decentralized network for transaction management, which will enhance as a proof of consent for data security, thereby driving the market demand globally.

Growing application of digital technologies like Big Data, cloud computing, artificial intelligence (AI), and Internet of Things (IoT) as innovative solutions for   digital transaction system is likely to drive the demand for DTM globally. Moreover, information privacy and data security continues to remain as major concerns, predominantly for the end users of DTM solutions. Furthermore, growing instances such as security breaches and cyber-attacks in digital transaction estimated to surge the demand for DTM solutions across various industries.

Industrial Developments

• In January 2020, eOriginal, Inc. announced its recognition as an industry leader for the fourth consecutive time in The Aragon Research Globe™ for digital transaction management.
• In April 2018, eOriginal, Inc. and MERSCORP Holdings, Inc. launched a new solution named “MERS® eNote”, in order to accelerate the entry for digital mortgage ecosystem. The solution enable the execution, creation, management, and registration of the eNote or electronic note, to mortgage designers across the industry.

Key Market Movements:

• Globally, the digital transaction management market is rising at a CAGR of 19.6% for the estimated period from 2019 to 2027.
• North America expected to dominate the global market with holding a market share of around 40% in 2018. Additionally, presence of numerous key market players providing DTM solutions have increased wide-scale use of digital transactions across the region. Moreover, the early adoption of digital solutions for transaction management are allowing the North America regional market to have a significant share of the global market.
• The Asia Pacific is likely to be the fastest growing region, and expected to witness a substantial growth in between 2019-2027. The persistent rise in the demand and adoption of digital advanced transaction management in developing countries like China, Japan, and India is likely to drive the growth of the regional market.
• However, growing demand for various DTM software, cloud computing capabilities of DTM solutions, and huge demand for digital transaction authentication solutions, majorly from BFSI industry and government agencies in the developing nations will drive the overall demand.

List of Companies Covered:

• Adobe Systems Incorporated
• Namirial SPA
• DocuSign Inc.
• Nintex Global Ltd.
• HELLOSIGN
• ZorroSign, Inc.
• AssureSign LLC
• ThinkSmart LLC
• Kofax, Inc.
• eOriginal, Inc.

Browse the full report at https://www.briskinsights.com/report/digital-transaction-management-market

The Global Digital Transaction Management Market is Segmented into:

*Complete segmentation list is on report page