Digital Transaction Management Market To Be Worth $53,339.4 Million by 2030: P&S Intelligence

NEW YORK, May 5, 2022 /PRNewswire/ -- In 2021, the global digital transaction management market revenue stood at $8,051.2 million in 2021, which is predicted to reach $53,339.4 million by 2030, growing at a high CAGR of 23.4% from 2021 to 2030, according to P&S Intelligence. Across a wide number of industrial sectors, there is a paradigm shift to process and workflow automation. In addition, businesses all around the globe are eager to use effective and smooth business procedures that are simple to apply, which drives the demand for digital transaction management.

The worldwide market has benefited from the COVID-19 pandemic, as the epidemic has driven consumers and companies to adjust their purchasing habits. Mobile wallet use has skyrocketed, as cashless transactions have become extremely important for purchases. Many customers have experimented with digital payments to minimize cash and card transactions, to curb the spread of COVID-19. Furthermore, the rising global internet penetration is one of the primary factors propelling the market expansion.

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Key Findings of Digital Transaction Management Market Report

• In the future, the digital transaction management market is predicted to develop because of the increasing adoption of various methods and electronic tools by organizations throughout the world to optimize everyday document-based processes.
• Furthermore, throughout the COVID-19 pandemic, the e-commerce business has grown. To safeguard both customers and staff, e-commerce platforms, such as Flipkart, Amazon, and Myntra, have prohibited cash payments and are pushing users to make digital payments.
• The blockchain technology creates a chain of timestamped data records that ties all records together. All transactions may be seen as proof of consent supplied by the user who began the transaction using digital signatures, which leads to enhance document safety.
• The BSFI category accounted for approximately 29% of the digital transaction management market value in 2021. In the banking and financial business, digital transaction management is quite popular since it aids in eliminating paperwork, thus making the financing process quick and easy.
• DocuSign Agreement Cloud, a popular digital transaction solution among BFSI companies, contains many apps for automating post- and pre-signature procedures, such as assisting negotiation workflow, automatically creating an agreement from stored data in other devices, and collecting payment after signature verification.
• Nintex Global Ltd. acquired AssureSign, a creator of electronic signatures and a provider of digital transaction management software, in June 2021 to address the user demand for a native e-signature feature within the Nintex Process Platform.

North America is the highest revenue producer in the digital transaction management market, accounting for around $3,087.2 million in 2021. The region is recognized for an innovative front with technological development, including near-field communication and contactless transactions, which has revolutionized business processes and business–consumer interaction.

Browse detailed report on Digital Transaction Management Market Size, Trends, Emerging Opportunities, And Top Key Players By 2030

Major companies compete in the market, and in recent years, they have launched new products and engaging themselves in acquisitions and partnerships to keep ahead of their competition. The most-significant companies offering digital transaction management solutions are Ascertia, DocuFirst, Kofax Inc., OneSpan, Namirial S.P.A, DocuSign Inc., Nintex Global Ltd., Adobe Inc., and Entrust Corporation.

Digital Transaction Management Market Segmentation Analysis

By Solution

• Electronic Signatures
• Workflow Automation
• Authentication
• Document Management System
• Document Archival

By End Use

• Retail
• BFSI
• Healthcare
• IT and Telecommunication
• Government
• Real Estate
• Utilities

By Organization Size

• Small & Medium
• Large

By Region

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Spain
• Italy
• Asia-Pacific
• China
• India
• Japan
• Latin America
• Brazil
• Columbia
• Chile
• Middle East and Africa
• Saudi Arabia
• South Africa

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SOURCE P&S Intelligence