Global digital transaction management market is projected to accumulate US $10,528.2 million by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
DTM is the procedure of converting traditional document-based transactions to electronic/digital formats. According to the research study, the market is mainly driven by rising importance and inclination for IT security and cloud services. Moreover, the banking and financial services industry is increasingly adopting digital transaction management solutions to keep pace with changing consumer requirements. Hence, the constant increase in transaction volumes conducted through digital platforms like internet banking, e-wallets, etc. provides transaction solution companies a valuable growth opportunity in the DTM market.
In addition to the factors mentioned above, large-scale acceptance and adoption of a range of electronic gadgets together with usage convenience and ease of transaction with these gadgets is encouraging firms across various industries to digitally transform their processes to align with dynamic user preferences and needs. In the long run, all the above-stated factors would gradually have a positive impetus on the digital transaction management market development, cites the report.
Enumerated below are the key takeaways of the digital transaction management market report:
• In terms of solutions, the electronic signatures segment led the market in the year 2017 and is estimated to sustain this position during the forecast period.
• Speaking of the regional proliferation, North America dominated the global market in 2017 and is predicted to maintain its lead in the projection timeframe.
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As per the report, the digital transaction management market has been segmented on the basis of region, end-user, solutions, and industry vertical. The DTM solutions segment encompasses the document digitization, electronic signatures, security & compliance, and workflow automation sub-segments. The report further ascertains that the electronic signatures segment would be the biggest contributor in terms of DTM solutions.
The end-user bifurcation of the DTM market report includes large enterprises and SMBs. Key industry verticals detailed in the report are education, BFSI, healthcare, IT & Telecom, construction & real estate, and government.
The report cites North America to have been the leading region in the global market in 2017. North America is projected to lead the market during the predicted period. Presence of leading market players and robust cloud infrastructure in the region, along with the surging trend of funding cloud-powered services has augmented product demand in this region. The rising consumption from the banking domain as a result of its strong inclination toward digital platforms and technological enhancements will also support North America DTM market.
The key players profiled in the digital transaction management market include DocuSign Inc., Kofax Inc., Fluix, Box, Captricity, ZorroSign Inc., Namirial Spa, Insight Enterprises Inc., ThinkSmart LLC, AssureSign LLC, eOriginal, Inc., DocuFirst, Connective, OneSpan, Euronovate S.A., HelloSign, and Accusoft Corporation. These prominent organizations offer pioneering solutions to meet the rising needs and requirements of consumers from assorted industry verticals.