Digital Transaction Management Market Demand, Growth And Development Trends By 2022 - 2030.

The global digital transaction management market size is expected to reach USD 61.10 billion by 2030, growing at a CAGR of 25.5% from 2022 to 2030, according to a new report by Grand View Research, Inc. The growth of the market can be attributed to the increasing need to manage all document-based transactions digitally. The growing adoption of cloud-based services across various industries and industrial verticals is also expected to propel the growth of the market over the forecast period. Digital transaction management solutions can potentially digitize, and subsequently, accelerate the process of signing business contracts and agreements accurately and securely.

These solutions can help in signing and transmitting documents online instantly rather than signing the documents physically and dispatching those by post or scanning and emailing the signed documents. Apart from accelerating the overall process of signing contracts and agreements, digital transaction management solutions can also help in reducing mistakes, thereby lowering operating costs. Businesses across the globe are focusing on adopting digital transaction management solutions to reduce errors, and operating costs thereby, while reducing transaction times and augmenting productivity. Moreover, as these solutions are cloud-based, employees can access important business documents irrespective of their device or location.

Digital Transaction Management Market Segmentation

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

Based on the Component Insights, the market is segmented into Hardware, Software and Services.

• The growing demand for Point of Sale (POS) machines from vendors across various industries, including retail, hospitality, and healthcare, is primarily driving the growth of the hardware segment.
• The emergence of electronic signature pads and contactless technologies, such as Near Field Communication (NFC), has also been driving the demand for DTM hardware.
• The growth of the segment can be attributed to the growing demand for various software, such as Contract Lifecycle Management (CLM) software, among others, which can help in managing digital transactions.

Based on the Solution Insights, the market is segmented into Electronic Signatures, Workflow Automation, Authentication, Document Archival and Others.

• The electronic signatures segment dominated the market in 2021 and accounted for a revenue share of more than 38.0%.
• Electronic signatures technology helps in improving efficiency, increasing the speed of transactions, and reducing the overall cost of business operations.
• The workflow automation segment is anticipated to register the fastest CAGR over the forecast period. Workflow automation helps businesses in saving time and money while avoiding errors in the processes.

Based on the End-User Insights, the market is segmented into Large enterprises and SMEs.

• The large enterprises segment dominated the market in 2021 and accounted for a revenue share of more than 56.0%. Organizing transaction workflows and ensuring efficient and cost-effective business processes remains critical for large enterprises.
• Large enterprises are typically adopting digital transaction management solutions to accommodate timestamped changes, ensure adequate authentication, and collaborate with reviewers, thereby speeding up the entire business lifecycle.
• SMEs are particularly preferring state-of-the-art, next-generation solutions based on the latest technologies, such as Artificial Intelligence (AI), to reduce risks and control administration costs.

Based on the Vertical Insights, the market is segmented Into Retail, BFSI, Healthcare, IT & Telecom, Government, Real Estate, Utilities and Others.

• The BFSI segment dominated the market in 2021 and accounted for a revenue share of more than 28.0%. The transaction workflow of banks and financial institutions often tends to be agile.
• The diverse challenges stemming from the intensifying competition, demanding customers, and an evolving regulatory environment are particularly prompting banks and financial institutions to opt for digital transformation, thereby driving the growth of the BFSI segment over the forecast period.
• Governments have realized that incorporating these solutions in their operations can potentially provide advanced algorithms and a high level of security to safely store the records of transactions and ensure effective and efficient governance.

Digital Transaction Management Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

Vendors are also developing solutions that comply with various regulations pertaining to global security standards and auditing of agreements. Market players are particularly focusing on new product developments, mergers & acquisitions, strategic partnerships, and business expansions as part of the efforts to cement their position in the market.

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 U.K. Ltd.
• OneSpan

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