According to Future Market Insights, the worldwide digital transaction management market would generate approximately US$2,385.0 Mn in 2021. (FMI). By 2028, the global market for digital transaction management is anticipated to reach US$ 16,284.8 Mn, expanding at a CAGR of over 31.7 percent from 2022 to 2028.
|Market Value in 2022||US$ 3,115.4 Mn|
|Projected year (2028) Market Value||US$ 16,284.8 Mn|
|Share of Top 5 Players||25%|
With the aid of smart electronic devices, technology in the market for digital transaction management has become simple, and its use has significantly expanded as a result of the rising demand for document management. The global market for digital transaction management has significantly expanded as a result of the growing acceptance of digital transformation across numerous industries. The use of digital transaction management software by citizens has greatly expanded along with the growth in smartphone penetration. Digital transaction management facilitates the usage of value-added services for end user industries, including telecommunication, healthcare, manufacturing, government, retail, IT, BFSI, and many more. It also helps to improve security and minimise paperwork.
Developed nations are constantly attempting to convert their paper-based processes to digital ones. Companies are now funding the adoption of digital transaction management solutions and services in a number of countries. The adoption of digital transaction management systems and software by the governments of various nations is primarily driven by concerns for security, universality, privacy, scalability, and interoperability. Particularly in the BFSI and transportation industries, businesses are seeking to integrate new technology like electronic signatures and process automation.
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To understand and assess the demand and opportunities in the digital transaction management market, the report is categorically split into digital transaction management market analysis by component, vertical, end user and by region. Digital transaction management market analysis by component comprehensively analyses the market on the basis of solutions and services analysis in terms of value for 2018-2028. Digital transaction management market analysis by vertical analyses the digital transaction management market on the basis of retail, BFSI, healthcare, IT & telecommunication, travel & transportation, manufacturing, government and others. Digital transaction management market analysis by end user analyses the digital transaction management market on the basis of large enterprises and small and midsized enterprises.
In 2017, the solutions segment dominated the digital transaction management market followed by the services segment. Moreover, the solutions segment is projected to expand at the fastest CAGR of 30.9% over the forecast period in the digital transaction management market in terms of revenue, followed by the services sub-segments.
The section market analysis by vertical analyses the digital transaction management market based on different segments and data is provided in terms of value for 2018-2028. The retail sub-segment of the digital transaction management market is expected to expand at a significant CAGR of 30.5% in terms of value during the forecast period. In terms of digital transaction management market share, the BFSI segment accounted for a major percentage of the revenue share of the overall digital transaction management market in 2017, and is also expected to dominate the digital transaction management market throughout the forecast years.
Digital transaction management market analysis by region includes an in-depth country-level analysis of all the global regions, namely North America, Latin America, Western Europe, Eastern Europe, SEA & Others of APAC, China, Japan and the Middle East & Africa, as well as countries in these regions, and provides market data in terms of value for 2022-2028 for the digital transaction management market. In 2017, the digital transaction management market in North America dominated the overall global digital transaction management market, followed by the market in Western Europe.
Key players reported in this study on the global digital transaction management market are Adobe Systems Incorporated; Namirial SPA; DocuSign Inc.; Nintex Global Ltd.; HELLOSIGN; ZorroSign, Inc.; AssureSign LLC; ThinkSmart LLC; Kofax, Inc. and eOriginal, Inc.
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Digital Transaction Management Outlook by Category
- Digital Transaction Management Solutions
- Digital Transaction Management Services
- Large Enterprises
- Small and Midsize Business
- IT & Telecommunication
- Travel & Transportation
- North America
- Latin America
- Western Europe
- Eastern Europe
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