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Digital Transaction Management Market: Introduction

  • Digital Transaction Management (DTM) is a category of cloud services designed to digitally manage document-based transactions. DTM removes the friction inherent in transactions that involve people, documents, and data to create faster, easier, more convenient, and secure processes.
  • Growing technological advancements in the software industry is impacting the digitalization in businesses. XTDM, an industry standard for developers of digital transaction management software and services allows developers to incorporate digital technology to their applications.
  • Digital management of a transaction continues to evolve as combinations of the latest digital technologies, such as cloud computing, Big Data, Internet of Things (IoT), and artificial intelligence (AI), leading to innovative DTM solutions
  • However, data security and information privacy is a major concern, particularly for end-users of DTM solutions. As such, the growing instances of cyber-attack and security breaches in digital transactions are expected to take a toll on the demand for DTM solutions.

Rise in Demand for Digital Transaction Management in Banking and Healthcare Industry

  • Digital transaction management is popular in banking and finance industry because it reduces a lot of the paperwork and makes the banking process easy. Many innovations for DTM are in pipeline which is likely to drive the growth of the global digital transaction management market. 
  • Governments of the U.K. and U.S. are offering heavy funding to players developing digital transaction management solutions and services for them. Governments are incorporating these systems in their operations since these solutions offer high security and advanced algorithms that can safely store the records of transactions. The global digital transaction management market is expected to experience consistent growth during the forecast period as a result of extensive adoption of digital transaction management software and services.
  • The healthcare industry is making extensive use of these systems due to the security and convenience of digital transaction management software and services. The solutions allow medical professionals to manage a patient’s history digitally which saves considerable money and a good amount of time, enhancing the productivity of the hospital. This also ensures the optimal sorting of documents since no humans are involved in the process. The global digital transaction management market is projected to witness substantial growth during the forecast period owing to such extensive applications of solutions in the healthcare industry.

North America to Lead the Global Digital Transaction Management Market

  • In terms of region, the global digital transaction management market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
  • North America is expected to emerge as a leading region in the global digital transaction management market during the forecast period. Dominance of the region is the result of growing applications of digital transaction management solutions to share information in an organized manner in various industries in countries such as the U.S. and Canada.
  • Moreover, presence of various prominent players of the market also strengthens the position of North America in the global digital transaction management market
  • Europe is likely to show significant market growth owing to digitization of various transactions in the banking and finance industry. Storage of data and processes have been digitized in the region due to huge amounts of data.
  • Government initiatives such as Digital India and promotion of digitization has propelled the growth of the global digital transaction market in Asia Pacific.

Key Players in the Global Digital Transaction Management Market

  • Adobe
  • DocuSign Inc.
  • OneSpan
  • Kofax Inc.
  • Entrust Datacard Corporation
  • Nintex Global Ltd.
  • Ascertia
  • DocuFirst
  • eOriginal Inc.

Global Digital Transaction Management Market, Research Scope

Global Digital Transaction Management Market, by Component

  • Hardware
  • Software
  • Services

Global Digital Transaction Management Market, by Solution

  • Electronic Signatures
  • Workflow Automation
  • Authentication
  • Document Archival
  • Others

Global Digital Transaction Management Market, by End-user

  • Large Enterprises
  • SMEs

Global Digital Transaction Management Market, by Application

  • Retail
  • BFSI
  • Healthcare
  • IT & Telecom
  • Government
  • Others

Global Digital Transaction Management Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Mexico
    • Rest of South America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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