Digital Transaction Management Market

Global Digital Transaction Management Market is valued at USD 3.2 Billion in 2021 and is expected to reach USD 20.8 Billion by 2028 with a CAGR of 31.27% over the forecast period.

Global Digital Transaction Management Market: Global Size, Trends, Competitive, And Historical & Forecast Analysis, 2022-2028: High adoption of cloud services by the banking sector, reduction in transaction time and improved security, and growing advancement in digital technology are some of the major factors driving the growth of the Global Digital Transaction Management Market.

Scope of Global Digital Transaction Management Market

Digital Transaction Management (DTM) is a group of cloud services meant to digitally handle document-based activities. DTM reduces the friction associated in transactions that include people, papers, and data to produce faster, simpler, better convenient, and more secure operations. Growing technical breakthroughs in the software sector are affecting digitalization in enterprises. XTDM, an industry standard for producers of digital transaction management software and services allows developers to apply internet devices to their applications. Digital management of a transaction is constantly changing as combinations of the newest digital technologies, including Big Data, cloud computing, artificial intelligence (AI), and the Internet of Things (IoT) lead to creative DTM solutions.

COVID-19 has affected many industries across the globe.  Due to the necessity to prevent interaction with one another, several systems have been compelled to shut down. Most of them have shifted to internet trade and marketing platforms. However, the pandemic has heightened the necessity for internet transactions. Hence, the DMT market has experienced tremendous growth. People have turned to online payments, as they are rapid, devoid of personal interaction, and ensure safe transactions. Moreover, the unexpected ascent of digital entertainment and commerce platforms has led to the market’s expansion.

In the context of the COVID-19 pandemic and worldwide lockdown, electronic technology had witnessed an inescapable spike in use. Organizations and people throughout the world have had to adjust to new methods of conducting business and living. The international focus of companies is on paperless approvals for financing transactions and guarantee issuances. It is expected that DTM solutions would acquire momentum across a range of businesses and industrial verticals.

The global Digital Transaction Management market is segmented based on the component, solution, application, end-user, and region & country level. Based on components, the global Digital Transaction Management market is segmented into hardware, software, and services. By solutions, the market is segmented into electronic signatures, workflow automation, authentication, document archival, and others. By application, the global Digital Transaction Management market is segmented into large enterprises and SMEs. By end-user, the global Digital Transaction Management market is segmented into retail, BFSI, healthcare, IT & telecom, government, and others.

The regions covered in the global Digital Transaction Management market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. Based on country level, the market of global Digital Transaction Management is sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.

Global Digital Transaction Management Market Segmentation

By Components:

• Hardware
• Software
• Services

By Solutions:

• Electronic Signatures
• Workflow Automation
• Authentication
• Document Archival
• Others

By Application:

• Large Enterprises
• SMEs

By End-User:

• Retail
• BFSI
• Healthcare
• IT & telecom
• Government
• Others

Key Players of Global Digital Transaction Management Market

Some major key players for the global Digital Transaction Management market report cover prominent players like

• Namirial SPA
• Adobe Systems Incorporated
• Nintex Global
• DocuSign
• ZorroSign
• HELLOSIGN
• ThinkSmart
• AssureSign
• eOriginal
• Kofax
• Mitek
• OneSpan
• DocuFirst
• Entrust Datacard Corporation
• others.

News

Deutsche Bank and Mastercard increase their partnership in the payments industry

On September 23^rd,2022; Deutsche Bank and Visa agreed to a new agreement to help fight online retail theft. Merchants who handle their e-commerce transactions via Deutsche Bank will utilize “Decision Manager,” an automatic fraud detection technology from Visa-owned firm Cybersecure. The technology acts like a risk management system and determines a risk value for each transfer using AI and set criteria, allowing legitimate transactions to be expedited and suspected fraudulent activity to be prevented. The offer is intended for small, medium-sized, and big organizations to facilitate digital transactions.

Goldman Sachs Broadens Transaction Banking to the European Union

On September 20^th, 2022; Goldman Sachs expanded Transaction Banking (TxB) in Europe. This increase will improve Goldman Sachs’ ties with current customers who have banking needs across Europe and enable them to service new clients throughout the Continent. Starting with a new facility in Frankfurt and ambitions to extend to Amsterdam, TxB will fulfill clients’ treasury requirements, including payments and deposits in more than 120 currencies. TxB’s cloud-based global platform gives customers insight into their payments, accounts, and liquidity situations across currencies and countries that take over $65 billion in deposits and process trillions of dollars throughout its systems.

Namirial S.p.A., an Ambienta portfolio business has purchased Netheos

On November 4^th,2021; Namirial SpA, a pioneer in digital trust services and software, purchased Netheos SAS, a French supplier of online identity verification and client boarding solutions. The integration of Netheos technology with Namirial Digital Trust Services would enable firms better achieve the broader digital business imperative, offering best-in-class client experience and making ease meet compliance and security.

High adoption of cloud services by the banking sector, reduction in transaction time and improved security, and growing advancement in digital technology are some of the major factors driving the growth of the Global Digital Transaction Management Market

The application of technology in every element is rising quickly. Hence, the DTM system can assist eradicate paperwork for cash transactions. This will also assist quicken the process of approvals and payment, utilizing digital signatures. Digital transactions also serve as the gateway to entirely secure transactions. It costs a lot cheaper and is trouble-free to implement. Most businesses, large and small, are trying to make their processes easier. Hence, they result in the expansion of the Digital Transaction Management market. Particularly during the Covid-19 outbreak, the necessity for digital payment has increased.

The ongoing use of different techniques and electronic tools by organizations throughout the world to optimize everyday document-based operations is likely to boost the growth of the market during the forecast period. The rising requirement for safe record filing is also projected to contribute to the expansion of the market. Businesses are concentrating on adopting digital transaction management solutions since these solutions encompass all the components of document lifecycle from generation to storage. Digital transaction management systems also aid in assuring easier, quicker, and safer corporate operations.

The rising acceptance of cloud-based services throughout the globe is expected to provide development possibilities for the market during the forecast period. A systematic strategy toward cloud-based filing storage and management might possibly establish the foundations for paperless documentation. Moreover, document capture, indexing, searching and retrieval, safe sharing and access control, integration, encryption, and backup capabilities are regarded as the main components of documentation and the essentials for digital transaction administration. Apart from this, content analytics tools in digital transaction management solutions may also aid firms in minimizing unnecessary data entry.

However, online solutions and services that use digital technology are sometimes vulnerable to hacks and theft. Online transactions are usually exposed to fraudulent activity, such as merchant and triangulation frauds, identity thefts, phishing, counterattacks, affiliate and clean scams, and pagejacking. As a result, during the course of the projection period, it is anticipated that the market would experience slower development due to rising worries regarding fraudulent transactions and cyberattacks. The increased incidences of security breaches and cyberattacks against default electronic transfers are particularly projected to take a toll on the market for digital transaction management solutions.

North America is Expected to Capture a Major Share in the Global Digital Transaction Management Market

Geographically, North America is likely to lead the global Digital Transaction Management market. North America is home to numerous important industry incumbents as well as developing startups offering digital transaction management solutions. Moreover, the area is also noted for the early adoption of the most recent digital technologies for transaction management. Such variables are helping the North American regional market to account for a large proportion of the worldwide industry.

The increased use of digital technologies for transaction management in developing nations, such as China and India, is likely to boost the growth of the regional market. Continued digitalization and government efforts such as Digital India are projected to drive market growth in India. The rising number of SMEs in Asia Pacific is also likely to generate development prospects for regional market growth during the predicted period.

 

By Regional & Country Level

North America

• U.S
• Canada

Europe

• U.K.
• France
• Germany
• Italy

Asia Pacific

• China
• Japan
• India
• Southeast Asia

Latin America

• Brazil
• Mexico

Middle East and Africa

• GCC
• Africa
• Rest of Middle East and Africa

Report Analysis	Details
Historical data	2018 - 2021
Forecast Period	2021 - 2028
Market Size in 2021:	USD 3.2 Billion
Base year considered	2021
Forecast Period CAGR %:	31.27%
Market Size Expected in 2028:	USD 20.8 Billion
Tables, Charts & Figures:	175
Pages	300
Key Players/Companies	Namirial SPA, Adobe Systems Incorporated, Nintex Global Ltd., DocuSign Inc., ZorroSign, Inc., HELLOSIGN., ThinkSmart LLC., AssureSign LLC, eOriginal, Inc., Kofax, Inc., Mitek, OneSpan, DocuFirst, Entrust Datacard Corporation, and others.
Segments Covered	By Components, By Solutions, By Application, By End-User.
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, Africa, Rest of the Middle East and Africa