Digital Transaction Management Market (By Component: Hardware, Software, Services; By Solution: Electronic Signatures, Workflow Automation, Authentication, Document Archival; By End-user: Large enterprises, SMEs; By Vertical: Retail, BFSI, Healthcare, IT & Telecom, Government, Real Estate, Utilities) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2022 – 2030

Published Date : Feb 2022 | No. of Pages : 150+ Pages | Category : ICT

The global digital transaction management market size was valued at USD 8.03 billion in 2021, and is predicted to be worth around USD 61.09 billion by 2030, registering a CAGR of 25.4% during the forecast period 2022 to 2030.

Digital Transaction Management Market Size 2022 to 2030

Growth Factors

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.

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 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.

Report Coverage

Report Scope Details
Market Size US$ 61.09 billion by 2030
Growth Rate CAGR of 25.4% From 2022 to 2030
Largest Market North America
Base Year 2021
Forecast Period 2022 to 2030
Segments Covered Component, Solution, End user, Vertical
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned Adobe; Ascertia; DocuFirst; DocuSign Inc.; eDOC Innovations; Entrust Corporation; Wolters Kluwer N.V.; Kofax Inc.; Nintex U.K. Ltd.; OneSpan

By Component Analysis

The hardware segment dominated the market in 2021 and accounted for a revenue share of more than 41.0%. 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.

POS machines are being designed specially to track inventory records, sales orders, customer profiles, POS transactions, and all other activities carried out in a retail store. 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 software segment is anticipated to register the fastest CAGR over the forecast period. 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. 

Digital transaction management software can help businesses in capturing legally compliant electronic signatures, and tracking and managing the flow of documents between contractual parties while securing document-based transactions and storage of information. Cloud-based capabilities of digital transaction management solutions can particularly allow users to manage their business processes effectively.

By Solution Analysis

The electronic signatures segment dominated the market in 2021 and accounted for a revenue share of more than 38.0%. The segment is expected to continue dominating the market over the forecast period owing to the extensive portfolios of electronic signature software and services being rolled out aggressively by several vendors. 

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. Errors in documents and transactions can potentially lead to severe monetary losses. However, specifying conditions and rules available as part of workflow automation solutions can help businesses in preventing such errors. Hence

By End-user Analysis

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. Hence, large organizations are more likely to opt for digital transaction management solutions for efficient management of their transactions and transaction documents.

The SMEs segment is anticipated to register the fastest CAGR over the forecast period. SMEs are gradually adopting digital transaction management solutions for effective transaction management and automation. As such, the growth of the segment can be attributed to the technological shift SMEs have been pursuing from conventional transaction management to digital transaction management.

By Vertical Analysis

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. Hence, incumbents of the BFSI industry are aggressively adopting cloud-based digital transaction management solutions to improve their transaction management processes and make them more flexible. 

The government segment is anticipated to register the fastest CAGR over the forecast period. Government agencies are expected to readily adopt digital transaction management solutions as part of the digital governance initiatives being pursued by various governments around the world. 

By Regional Analysis

North America dominated the global market in 2021 and accounted for a revenue share of more than 34.0%. North America is home to several key market players as well as emerging companies providing digital transaction management solutions.

The growing adoption of digital solutions for transaction management in developing countries, such as India and China, is expected to drive the growth of the regional market. In India, continued digitization and initiatives, such as Digital India, being pursued by the government are expected to propel market growth. 

Key Players

  • Adobe

  • Ascertia

  • DocuFirst

  • DocuSign Inc.

  • eDOC Innovations

  • Entrust Corp.

  • Wolters Kluwer N.V. 

  • Kofax Inc.

  • Nintex UK Ltd.

  • OneSpan

Market Segmentation

  • By Component

    • Hardware

    • Software

    • Services

  • By By End-user

    • Large enterprises

    • SMEs

  • By Vertical 

    • Retail

    • BFSI

    • Healthcare

    • IT & Telecom

    • Government

    • Real Estate

    • Utilities

    • Others

  • Regional 

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • Spain

      • France

      • Italy

    • Asia Pacific

      • China

      • India

      • Japan

    • South America

      • Brazil

      • Colombia

      • Chile

    • Middle East & Africa

The digital transaction management market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of digital transaction management market for the base year 2022 and the forecast between 2022 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global digital transaction management market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the digital transaction management market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted digital transaction management market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the digital transaction management capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of digital transaction management by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global digital transaction management market. These figures have been provided in terms of both revenue and volume for the period 2019 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major digital transaction management market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of digital transaction management market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the digital transaction management industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

digital transaction management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to digital transaction management market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of digital transaction management market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new digital transaction management market. These factors have benefited the growth of the global market for digital transaction management. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for digital transaction management. The global market is segmented on the basis of region, application, end-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of digital transaction management are as follows:

  • History Year: 2019-2021
  • Base Year: 2022
  • Forecast Year 2022  to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2019-2022) and forecast (2022-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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