Digital Transaction Management Market Trends and Insight 2030
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.
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 | USD 61.09 billion by 2030 |
| Growth Rate | CAGR of 25.4% From 2022 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
| Segments Covered | Component, Solution, End user, Vertical, region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| 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.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Digital Transaction Management Market include:
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:
Market Segmentation
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Digital Transaction Management market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Digital Transaction Management market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Digital Transaction Management markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Digital Transaction Management Market Study:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and End-user Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Digital Transaction Management Market, By Component
7.1. Digital Transaction Management Market, by Component, 2021-2030
7.1.1. Hardware
7.1.1.1. Market Revenue and Forecast (2019-2030)
7.1.2. Software
7.1.2.1. Market Revenue and Forecast (2019-2030)
7.1.3. Services
7.1.3.1. Market Revenue and Forecast (2019-2030)
Chapter 8. Global Digital Transaction Management Market, By Solution
8.1. Digital Transaction Management Market, by Solution, 2021-2030
8.1.1. Electronic Signatures
8.1.1.1. Market Revenue and Forecast (2019-2030)
8.1.2. Workflow Automation
8.1.2.1. Market Revenue and Forecast (2019-2030)
8.1.3. Authentication
8.1.3.1. Market Revenue and Forecast (2019-2030)
8.1.4. Document Archival
8.1.4.1. Market Revenue and Forecast (2019-2030)
Chapter 9. Global Digital Transaction Management Market, By End-user
9.1. Digital Transaction Management Market, by End-user, 2021-2030
9.1.1. Large enterprises
9.1.1.1. Market Revenue and Forecast (2019-2030)
9.1.2. SMEs
9.1.2.1. Market Revenue and Forecast (2019-2030)
Chapter 10. Global Digital Transaction Management Market, By Vertical
10.1. Digital Transaction Management Market, by Vertical, 2021-2030
10.1.1. Retail
10.1.1.1. Market Revenue and Forecast (2019-2030)
10.1.2. BFSI
10.1.2.1. Market Revenue and Forecast (2019-2030)
10.1.3. Healthcare
10.1.3.1. Market Revenue and Forecast (2019-2030)
10.1.4. IT & Telecom
10.1.4.1. Market Revenue and Forecast (2019-2030)
10.1.5. Government
10.1.5.1. Market Revenue and Forecast (2019-2030)
10.1.6. Real Estate
10.1.6.1. Market Revenue and Forecast (2019-2030)
10.1.7. Utilities
10.1.7.1. Market Revenue and Forecast (2019-2030)
Chapter 11. Global Digital Transaction Management Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Component (2019-2030)
11.1.2. Market Revenue and Forecast, by Solution (2019-2030)
11.1.3. Market Revenue and Forecast, by End-user (2019-2030)
11.1.4. Market Revenue and Forecast, by Vertical (2019-2030)
11.1.5. U.S.
11.1.5.1. Market Revenue and Forecast, by Component (2019-2030)
11.1.5.2. Market Revenue and Forecast, by Solution (2019-2030)
11.1.5.3. Market Revenue and Forecast, by End-user (2019-2030)
11.1.5.4. Market Revenue and Forecast, by Vertical (2019-2030)
11.1.6. Rest of North America
11.1.6.1. Market Revenue and Forecast, by Component (2019-2030)
11.1.6.2. Market Revenue and Forecast, by Solution (2019-2030)
11.1.6.3. Market Revenue and Forecast, by End-user (2019-2030)
11.1.6.4. Market Revenue and Forecast, by Vertical (2019-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Component (2019-2030)
11.2.2. Market Revenue and Forecast, by Solution (2019-2030)
11.2.3. Market Revenue and Forecast, by End-user (2019-2030)
11.2.4. Market Revenue and Forecast, by Vertical (2019-2030)
11.2.5. UK
11.2.5.1. Market Revenue and Forecast, by Component (2019-2030)
11.2.5.2. Market Revenue and Forecast, by Solution (2019-2030)
11.2.5.3. Market Revenue and Forecast, by End-user (2019-2030)
11.2.5.4. Market Revenue and Forecast, by Vertical (2019-2030)
11.2.6. Germany
11.2.6.1. Market Revenue and Forecast, by Component (2019-2030)
11.2.6.2. Market Revenue and Forecast, by Solution (2019-2030)
11.2.6.3. Market Revenue and Forecast, by End-user (2019-2030)
11.2.6.4. Market Revenue and Forecast, by Vertical (2019-2030)
11.2.7. France
11.2.7.1. Market Revenue and Forecast, by Component (2019-2030)
11.2.7.2. Market Revenue and Forecast, by Solution (2019-2030)
11.2.7.3. Market Revenue and Forecast, by End-user (2019-2030)
11.2.7.4. Market Revenue and Forecast, by Vertical (2019-2030)
11.2.8. Rest of Europe
11.2.8.1. Market Revenue and Forecast, by Component (2019-2030)
11.2.8.2. Market Revenue and Forecast, by Solution (2019-2030)
11.2.8.3. Market Revenue and Forecast, by End-user (2019-2030)
11.2.8.4. Market Revenue and Forecast, by Vertical (2019-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Component (2019-2030)
11.3.2. Market Revenue and Forecast, by Solution (2019-2030)
11.3.3. Market Revenue and Forecast, by End-user (2019-2030)
11.3.4. Market Revenue and Forecast, by Vertical (2019-2030)
11.3.5. India
11.3.5.1. Market Revenue and Forecast, by Component (2019-2030)
11.3.5.2. Market Revenue and Forecast, by Solution (2019-2030)
11.3.5.3. Market Revenue and Forecast, by End-user (2019-2030)
11.3.5.4. Market Revenue and Forecast, by Vertical (2019-2030)
11.3.6. China
11.3.6.1. Market Revenue and Forecast, by Component (2019-2030)
11.3.6.2. Market Revenue and Forecast, by Solution (2019-2030)
11.3.6.3. Market Revenue and Forecast, by End-user (2019-2030)
11.3.6.4. Market Revenue and Forecast, by Vertical (2019-2030)
11.3.7. Japan
11.3.7.1. Market Revenue and Forecast, by Component (2019-2030)
11.3.7.2. Market Revenue and Forecast, by Solution (2019-2030)
11.3.7.3. Market Revenue and Forecast, by End-user (2019-2030)
11.3.7.4. Market Revenue and Forecast, by Vertical (2019-2030)
11.3.8. Rest of APAC
11.3.8.1. Market Revenue and Forecast, by Component (2019-2030)
11.3.8.2. Market Revenue and Forecast, by Solution (2019-2030)
11.3.8.3. Market Revenue and Forecast, by End-user (2019-2030)
11.3.8.4. Market Revenue and Forecast, by Vertical (2019-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Component (2019-2030)
11.4.2. Market Revenue and Forecast, by Solution (2019-2030)
11.4.3. Market Revenue and Forecast, by End-user (2019-2030)
11.4.4. Market Revenue and Forecast, by Vertical (2019-2030)
11.4.5. GCC
11.4.5.1. Market Revenue and Forecast, by Component (2019-2030)
11.4.5.2. Market Revenue and Forecast, by Solution (2019-2030)
11.4.5.3. Market Revenue and Forecast, by End-user (2019-2030)
11.4.5.4. Market Revenue and Forecast, by Vertical (2019-2030)
11.4.6. North Africa
11.4.6.1. Market Revenue and Forecast, by Component (2019-2030)
11.4.6.2. Market Revenue and Forecast, by Solution (2019-2030)
11.4.6.3. Market Revenue and Forecast, by End-user (2019-2030)
11.4.6.4. Market Revenue and Forecast, by Vertical (2019-2030)
11.4.7. South Africa
11.4.7.1. Market Revenue and Forecast, by Component (2019-2030)
11.4.7.2. Market Revenue and Forecast, by Solution (2019-2030)
11.4.7.3. Market Revenue and Forecast, by End-user (2019-2030)
11.4.7.4. Market Revenue and Forecast, by Vertical (2019-2030)
11.4.8. Rest of MEA
11.4.8.1. Market Revenue and Forecast, by Component (2019-2030)
11.4.8.2. Market Revenue and Forecast, by Solution (2019-2030)
11.4.8.3. Market Revenue and Forecast, by End-user (2019-2030)
11.4.8.4. Market Revenue and Forecast, by Vertical (2019-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Component (2019-2030)
11.5.2. Market Revenue and Forecast, by Solution (2019-2030)
11.5.3. Market Revenue and Forecast, by End-user (2019-2030)
11.5.4. Market Revenue and Forecast, by Vertical (2019-2030)
11.5.5. Brazil
11.5.5.1. Market Revenue and Forecast, by Component (2019-2030)
11.5.5.2. Market Revenue and Forecast, by Solution (2019-2030)
11.5.5.3. Market Revenue and Forecast, by End-user (2019-2030)
11.5.5.4. Market Revenue and Forecast, by Vertical (2019-2030)
11.5.6. Rest of LATAM
11.5.6.1. Market Revenue and Forecast, by Component (2019-2030)
11.5.6.2. Market Revenue and Forecast, by Solution (2019-2030)
11.5.6.3. Market Revenue and Forecast, by End-user (2019-2030)
11.5.6.4. Market Revenue and Forecast, by Vertical (2019-2030)
Chapter 12. Company Profiles
12.1. Adobe
12.1.1. Company Overview
12.1.2. Component Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Ascertia
12.2.1. Company Overview
12.2.2. Component Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. DocuFirst
12.3.1. Company Overview
12.3.2. Component Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. DocuSign Inc.
12.4.1. Company Overview
12.4.2. Component Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. eDOC Innovations
12.5.1. Company Overview
12.5.2. Component Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Entrust Corp.
12.6.1. Company Overview
12.6.2. Component Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Wolters Kluwer N.V.
12.7.1. Company Overview
12.7.2. Component Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Kofax Inc.
12.8.1. Company Overview
12.8.2. Component Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Nintex UK Ltd.
12.9.1. Company Overview
12.9.2. Component Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. OneSpan
12.10.1. Company Overview
12.10.2. Component Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles
(Upto 5 With No Cost)
Additional Countries (Apart
From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers