Market Overview

The worldwide digital transaction market 2020 can value at above USD 5,552.91 Mn by 2023 from USD 1,400 Mn in 2017, show study by Market Research Future (MRFR). The digital transaction management solutions have significant role to improve efficiency of work processes, plus improve convenience. This can prompt the expansion of the digital transaction management market.

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The high rise in digital payment modes due to COVID-19 can cause expansion of the digital transaction management market. The growing applications of digital transaction is not only limited to densely populate and technically advanced regions, but their popularity is surging in the rural areas. This is due to the current coronavirus crisis, penetration of digital solution, better transparency, and growing trust on digital payment solutions. These factors are also likely to prompt the rise of the digital transaction management market.

On the contrary, the lack of awareness about common DTM standards can impede the market growth. In addition, the rise in concerns over complications and data security owing to third party involvement can also hinder the market rise. Weakening of cryptography standards, deliberate subverting, and interference from intelligence agencies can threat the expansion of the world digital transaction management market in the years to come.

Detailed Regional Analysis

Digital transaction management market in the North America region is expected to boom in the years to come across the assessment period, reveals regional study by MRFR. The U.S. is likely to secure the largest share of the regional market due to the flourishing financial sector. As North America is observed as an economic powerhouse, plus the existence of major players across the region can prompt the expansion of digital transactions management market across the review period. The rapid uptake of modern technology can support the expansion of North America digital transaction market.

In Europe, the digital transaction management value can rise exponentially in the UK followed by the rest of the UK across the review period. The economic strength of Europe can improve the impetus to the regional market through the review period. In Asia Pacific, the expansion of the regional digital transaction management can surge at a rapid growth rate. In India, followed by the rest of APAC, the rise of the digital transaction management market can be credited to the expansion of the I.T. sector. The digital transaction management market in the Middle East and Africa can boom, especially in the Gulf economies. Africa digital transaction management market is likely to exhibit a moderate rise owing to the lack of digital solutions.

Market Segmentation

To gain a vivid understanding of the world market of digital transaction management, MRFR conducted segmental analysis of the market based on application, component, and type.

The component based, digital transaction management market segments are services, software, and hardware.

The type based, digital transaction management market segments are non-repudiation, e-signature, authentication, and workflow automation among others.

The application based, digital transaction management segments are retail, travel & transportation, government, IT & telecommunication, healthcare, media & entertainment, BFSI, and others.

Dominant Market Players

MRFR registered some notable digital transaction management market players. Origin and regional branches, product line, and financial aspects were observed during enlisting key players of the worldwide digital transactions market. MRFR also discusses different factors that influenced the competitive landscape of the market. These key players are; Oracle (U.S.), Apple (U.S.), HP (U.S.), ThinkSmart (U.S.), IBM Corporation (U.S.), Microsoft Corporation (U.S.), DocuSign Inc. (U.S.), Intel (U.S.), eSignLive (Canada), Sony Corporation (Japan), and others.

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