Home Technology Digital Transaction Management Market Solution, Demand, Forecast to 2030

Digital Transaction Management Market

Digital Transaction Management Market Size, Share & Trends Analysis Report By Solution (Electronic Signatures, Workflow Automation, Authentication, Document Archival, Others), By End-Use (Retail, BFSI, Healthcare, IT and Telecom, Government, Real Estate, Utilities, Others), By Component (Hardware, Software, Services), By End User (SMEs, Large Enterprises) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2022-2030

Report Code: SRTE1659DR
Study Period 2018-2030 CAGR 23%
Historical Period 2018-2020 Forecast Period 2022-2030
Base Year 2021 Base Year Market Size USD 7920 Million
Forecast Year 2030 Forecast Year Market Size USD 51285 Million
Largest Market North America Fastest Growing Market Asia Pacific
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Market Overview

The global digital transaction management market size market was valued at USD 7920 million in 2021. By 2030, it is predicted to reach USD 51285 million with a CAGR of 23% during the forecast period (2022-2030). Factors like the adoption of electronic tools by various enterprises and the growing use of digital transactions stimulate market growth.

Digital payment is a payment system where both the payer and the recipient utilize digital ways to transfer and receive payment. It is a unified system comprising one or even more parties in which transactions are carried out without cash. Digital transaction management envisages a cloud computing service that allows customers to manage document-based transactions digitally. 

Digital transaction management services can potentially speed up signing business contracts and agreements by digitizing the overall process in an accurate, fast, and secure manner. Its features have evolved from fundamental tasks such as e-Signatures and paperless operations to more sophisticated DTM operations like workflow and content automation. It automates procedures that many firms have historically carried out on paper, including tenders, agreements, surveys, data assembling, and contracts. Its primary benefit is managing user papers and document-based tasks via digital channels for process management optimization, government organizations, non-profits, companies, and others. Aside from speeding up corporate operations, digital transaction management can also aid in error reduction and cost reduction.

The Global Digital Transaction Management Market is divided based on the solution, end-use, and regions. 

Market Dynamics

 Market Drivers: 

Adoption of Electronic Tools by Various Enterprises 

Digital transaction management systems aid in making company procedures simpler, quicker, and secure. It is much less expensive and much easier to carry out. Most organizations, large and small, want to simplify their transactions. Aside from all of these, content analytics tools in digital transaction management services can assist firms in reducing inefficient data entry. Several organizations are here to provide modern solutions that help stand out in the competitive DTM industry. Furthermore, cloud-based transaction solutions are dominating the market.

 Businesses are focused on digital transaction management systems because they address all areas of the document lifecycle, from generation to storage. The growing acceptance of diverse techniques and technological devices by businesses worldwide to optimize everyday document-based operations is likely to drive market expansion throughout the forecast period.

Market Restraint: 

Digital Technologies Prone to Fraudulent Activities

Although the Digital Transaction Management business has enjoyed tremendous growth, various risks may stymie its advancement. Digital fraudulence and cyber vulnerabilities regarding money are two of the most significant constraints that may confront the DMT industry. 

Online solutions and services relying on digital platforms, on the other hand, are frequently subject to cyberattacks and fraud. Fraudulent activities such as retailer and triangulation thefts, identity fraud, phishing, affiliate and clean scams, counter-attacks, and pagejacking are every day in online payments. As a result, rising concerns about fraudulent charges and cybercrime are projected to hamper market growth over the projection period. The increased number of security vulnerabilities and cyberthreats on default digital transactions is expected to harm the need for digital transaction management services.

What Are Future Growth Opportunities in the Global Digital Transaction Management Market

Growing Use of Digital Transactions

Several organizations are present to provide modern solutions to help you stand out in the challenging DTM industry. Furthermore, cloud-based commerce solutions are dominating the market. Individuals and team members can engage with one another and exchange document-based transactions using cloud-based technologies. 

Furthermore, even well-known banking institutions are moving to digital alternatives to improve the speed of their payments. The DTM system allows for digital e-signatures, record exchange, and validation. In addition, several businesses are developing QES (Qualified Electronic Signature) to offer the highest layer of assurance for monetary operations. As a result, the Digital Transaction Management system will aid in making payments smooth and efficient.

Regional Analysis

By region, the digital transaction management market share has been further segmented as North America, Europe, Asia-Pacific, South America, Middle East, and Africa.

North America dominated the market over the forecast period. It is valued at USD 2,755 million in 2021. It is expected to reach USD 16710 million by 2030 at a CAGR of 22%. The extensive adoption of digital transaction management systems by competitors in many businesses and market segments in nations such as the United States, Canada, and Mexico to communicate facts organized can be credited to the regional market's rise. The United States, Canada, and Mexico are early users of the most current digital transaction management systems. A significant range of electronic transaction management solution vendors in the region bodes well for the regional market's growth throughout the projection period.

The government has taken steps relating to e-signatures, like the Uniform Electronic Transactions Act (UETA) and the Electronic Signatures in Global and National Commerce Act (E-SIGN), which allow e-sign for every transaction, hence boosting the market. Trade agreements, including the United States-Mexico-Canada Agreement (USMCA), also promote e-signatures.

To remain relevant and competitive, several significant companies are introducing novel offerings. The firms have collaborated on technology breakthroughs, such as the June 2021 introduction of Check Intelligence by Mitek, a US-based signature verification platform. With relatively rapid technical innovation and more government oversight, the Improving Digital Identity Act of 2020.

Over the projection period, Asia-Pacific is estimated to be the fastest regional market. It is valued at USD 1,915 million in 2021 and is expected to reach USD 14370 million by 2030 growing at a CAGR of 25%. Due to increased internet usage and government initiatives in several countries, Asia Pacific is an expanding industry worldwide digital transaction management market. Furthermore, The increased implementation of online payment management services in emerging economies such as India and China is likely to bolster market growth. Continued digitalization and government efforts such as Digital India are projected to fuel market expansion in India. Over the forecast timeline, the growing number of SMEs in the Asia Pacific is expected to generate development prospects for the regional market.

Report Scope

Report Metric Details
By Solution
  1. Electronic Signatures
  2. Workflow Automation
  3. Authentication
  4. Document Archival
  5. Others
By End-Use
  1. Retail
  2. BFSI
  3. Healthcare
  4. IT and Telecom
  5. Government
  6. Real Estate
  7. Utilities
  8. Others
By Component
  1. Hardware
  2. Software
  3. Services
By End User
  1. SMEs
  2. Large Enterprises
Company Profiles Nintex Global Ltd DocuFirst Ascertia Adobe DocuSign, Inc. eDOC Innovations Entrust Corporation OneSpan Inc eOriginal, Inc
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

The global digital transaction management market share is divided based on the solution, end-use, and regions. 

In terms of solutions, the market has been further divided into electronic signatures, workflow automation, authentication, document archival, and others. The electronic signatures segment led the market and was valued at USD 3,030 million in 2021. By 2030, it is predicted to reach USD 20490 million growing at a CAGR of 24%. The main factors leading to the segment growth include the rising demand among the corporate sector for security, workflow efficiency, and effective supply chain management, a rise in online documentation activities, and substantial government support for this technology. 

Furthermore, the internet availability and surged usage of mobile and connected devices have increased demand for cloud security solutions and technologies as they offer benefits such as easy deployment, security, cost-effectiveness, and single management across all endpoints. Over the projected period, substantial expenditures on digital files by enterprises and government agencies worldwide are anticipated to boost the expansion of the electronic signatures segment. 

Additionally, the explicit focus on guaranteeing safe payments in remote working situations in the context of the COVID-19 pandemic bodes well for the segment's expansion.

Based on end-use, the market has been further segmented into retail, BFSI, healthcare, IT & telecom, government, real estate, utilities, and others. The BFSI segment generated the highest revenue of USD 2,275 million in 2021. It is expected to reach USD 16055 million by 2030, growing at a CAGR of 24% over the forecast period. 

This segment primarily includes financial firms, such as Non-Banking Financial Companies (NBFCs), commercial banks, cooperative banks, insurance companies, and other financial entities. DTM can help incumbents of the BFSI industry ensure that tasks advance to the next logical step by automatically generating, signing, and storing documents. This can help expedite the loan approval processes, disbursing loans more efficiently, and allow employees to focus on strengthening customer relationships instead of completing paperwork.

Thus, incumbents of the industry are aggressively implementing cloud-based DTM solutions to add and improve flexibility to their transaction management procedures. The BFSI industry has also recognized the significance of DTM solutions that aid in transaction security. DTM solutions are projected to expand rapidly worldwide due to a variety of variables such as growing cryptocurrencies, high interoperability with the corporate environment, quick payments, Initial Coin Offerings (ICOs), and lower total expense of acquisition.

Market Size By Solution

Impact of covid-19

Covid-19 has impacted most businesses. Many services have been compelled to shut down owing to the necessity to prevent communication with one another. The vast majority of them have shifted to online trade and marketing channels. On the other hand, the pandemic has increased the demand for internet transactions. As a result, the DMT market has skyrocketed. People have shifted to online payments because they are rapid, eliminate physical interaction, and ensure secure transactions. Furthermore, the fast rise of digital entertainment and commerce platforms has contributed to the market's expansion. 

Over the projection period, the breakout of the COVID-19 epidemic is set to propel the implementation of digital transaction management services. Businesses worldwide are putting more emphasis on paperless permits for both authorized transactions and guarantee financings. As a result, DTM solutions are projected to acquire traction across various sectors and industry verticals. The increased acceptance of electronic signatures in corporate transactions also bodes well for market growth.

Recent Developments

  • In September 2020, OneSpan Inc announced its partnership with ForgeRock, a company that provides digital identity solutions, to integrate OneSpan Inc's technologies into ForgeRock's identity platform. This integration offered a combined solution to simplify authentication and risk and fraud management. Moreover, through this partnership, ForgeRock and OneSpan Inc helped banks and financial institutions orchestrate identity and access management by protecting customers from fraud.
  • In June 2021, Nintex UK Ltd announced the acquisition of AssureSign, a company that provides digital transaction management and electronic signature software provider, to meet the customer's demand for native eSignature capability within the Nintex Process Platform. Through this acquisition, Nintex UK Ltd strengthened its product portfolio.
  • In May 2019, Kofax, Inc announced that it had launched an Intelligent Automation platform and marketplace to advance future-of-work initiatives for hyper-connected enterprises. The AI-enabled launched platform automates the end-to-end business operations at scale, allowing digitally transformed organizations to make supplier, customer, and employee interactions more gratifying and productive.
  • In June 2021, Entrust Corporation announced the acquisition of HyTrust, Inc, which provides cloud data encryption. Through this acquisition, Entrust Corporation adds cryptographic keys, a critical management layer for encryption, and a cloud security policy for its digital security solutions, thereby serving the organization's compliance and data protection needs that accelerate the digital transformations.
  • In April 2021, eDoc Innovations, in collaboration with Origence, a company that provides lending technology to financial institutions, announced the roll-out and completion of the e-signature integration with Origence Consumer Loan Origination System (LOS). This integration of Origence Consumer LOS with eDoc's e-sign solution allowed lenders to generate the loan documents and enable the documents for e-signature, e-delivery, and e-closing capabilities, which, in turn,,, optimized the lending process and improved the borrower experience.
  • In March 2021, Entrust Corporation announced the launch of its new Signing Automation Service. This cloud-based digital signing service enables private and public organizations to create tamper-proof electronic documents. Through this launch, the company expanded its product portfolio.

Top Key Players

Nintex Global Ltd DocuFirst Ascertia Adobe DocuSign, Inc. eDOC Innovations Entrust Corporation OneSpan Inc eOriginal, Inc Others

Frequently Asked Questions (FAQs)

What is the estimated growth rate (CAGR) of the Digital Transaction Management Market?
Digital Transaction Management Market size will grow at approx. CAGR of 23% during the forecast period.
Some of the top prominent players in Digital Transaction Management Market are, Nintex Global Ltd, DocuFirst, Ascertia, Adobe, DocuSign, Inc., eDOC Innovations, Entrust Corporation, OneSpan Inc, eOriginal, Inc, etc.
In the Digital Transaction Management Market, North America has established itself as the market leader with a significant market share.
The Asia Pacific region is projected to exhibit the highest rate of growth in the Digital Transaction Management Market.
The global market report is segmented as follows: By Solution, By End-Use

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