Digital Transaction Management Market Revenue to Cross USD 86.39 Billion by 2032; Registering at a CAGR of 24.1% – Exclusive Study by Polaris Market Research
The increasing need for digitization and automation solutions in businesses and the growing use of e-commerce and online payments propels the market growth.
New York, USA, Sept. 18, 2024 (GLOBE NEWSWIRE) — Market Overview:
According to Polaris Market Research, the global digital transaction management market was valued at USD 12.41 billion in 2023. The digital transaction management industry is projected to reach USD 86.39 billion by 2032, exhibiting a CAGR of 24.1% during the forecast period from 2024 to 2032.
What is Digital Transaction Management (DTM)?
Digital transaction management (DTM) is cloud-based technology that helps businesses manage digital transactions and documents. It enables businesses to sign business agreements and contracts quickly, accurately, and securely. This technology is developed to complement paper-based processes, which are often less secure, unreliable, and difficult to control.
With digital transaction management (DTM), companies can save significant time and cost by automating document-based processes, as it facilitates online signing and transaction rather than physical signing or scanning. DTM can be used across various industries, such as sales, human resources, finance, and information technology, where secure documentation and improved workflow are essential.
Download Free Sample PDF Copy of the Report:
https://www.polarismarketresearch.com/industry-analysis/digital-transaction-management-dtm-market/request-for-sample
Key Stats:
- The global digital transaction management market was valued at USD 12.41 billion in 2023.
- The digital transaction management industry is projected to grow from USD 15.35 billion in 2024 to USD 86.39 billion by 2032.
- The market is expected to grow at a CAGR of 24.1% from 2024 to 2032.
What is Current State of Digital Transaction Management Market?
- Growing demand for digital solutions, the popularity of e-commerce and online payments, and increasing demand for digitalization and automation in businesses are some of the key factors driving the market growth.
- The market is segmented on the basis of solution, industry vertical, component, end-user, and region.
- The digital transaction management market held the largest share in North America.
Growth Driving Factors:
Rising Adoption of DTM services: DTM technology provides speedy, precise, and safe digital transactions in business. As a result, companies are increasingly adopting these services to accelerate the signing of business accords and settlements, contributing to digital transaction management market sales.
Popularity of Digital Solutions: With more consumers shopping online through digital payment processes, the e-commerce sector is experiencing immense growth. Security and reliability play a key role in online payment methods, and digital transaction management systems fuel these functions. Thus, the growing demand for digital transaction management in digital solutions accelerates the market growth.
Need for Digitalization and Automation: As companies generate more sensitive data, there is a growing need for a centralized system to manage documentation, workflows, and other operations. To address these requirements, businesses are increasingly seeking digitization and automation solutions. DTM (Document and Transaction Management) technology can streamline operations and reduce errors. Consequently, the rising demand for digitization and automation is driving market growth. DocuSign, Adobe, and One Span are three leading market players who specialize in digital signatures.
Request for a Discount on this Report Before Purchase:
https://www.polarismarketresearch.com/industry-analysis/digital-transaction-management-dtm-market/request-for-discount-pricing
Restraining Factors:
Despite its growth potential, the market faces several challenges, particularly concerning data privacy and security. As sensitive information is increasingly transmitted and stored electronically, the risk of cyberattacks and data breaches rises. This has governments implementing stricter regulations on data protection, making it difficult for companies to implement DTM solutions that must comply with these requirements.
Digital Transaction Management Market Key Players:
- Adobe
- Ascertia
- DocuFirst
- DocuSign, Inc.
- eDOC Innovations
- Entrust Corp.
- Fluix
- Kofax Inc.
- Nintex UK Ltd
- Wolters Kluwer N.V.
Which Region Leads Digital Transaction Management Market?
North America dominated the market owing to the increased adoption of innovative technologies such as cloud computing, artificial intelligence, and machine learning in nations like the United States and Canada. DTM solutions integrated with these technologies aid in their business processes, improve customer experience, and enhance functional efficiency.
Inquire more about this report before purchase:
https://www.polarismarketresearch.com/industry-analysis/digital-transaction-management-dtm-market/inquire-before-buying
Segmental Outlook:
By Solution:
- Document Digitization
- Electronic Signatures
- Security and Compliance
- Workflow Automation
By Industry Vertical:
- BFSI
- Construction & Real Estate
- Education
- Government
- Healthcare
- IT and Telecom
By Component:
- Hardware
- Software
- Services
By End-user:
- Small and Medium Enterprises (SMEs)
- Large Enterprises
By Region:
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
More Trending Latest Reports by Polaris Market Research:
Service Robotics Market Analysis
Grow Lights Market Opportunities
Agriculture Analytics Market Size
Digital Signature Market Share
Hotel Management Software Market Growth
Location Analytics Market Forecast
About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
Contact:
Likhil G
8 The Green Ste 19824,
Dover, DE 19901,
United States
Phone: +1-929 297-9727
Email: sales@polarismarketresearch.com
Web: https://www.polarismarketresearch.com
Follow Us: LinkedIn | Twitter
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaShorts takes no editorial responsibility for the same.