The global digital transaction management market is growing significantly, at a CAGR of 16.3% during the forecast period (2019-2025). Digital transaction management is referred to a category of cloud services that are designed to manage document-based transactions in an entirely electronic manner. It essentially involves the streamlining the business processes by maintaining document processes completely digital. It assists in business automation; reductions of errors, overall lower operational cost, and secure and faster time to revenue in enterprises and financial institutions. There are various pivotal factors that are driving the global digital transaction management market, which includes the security concerns for personal information and favorable government initiatives for zooming the digitalization process in emerging economies, such as India.

The digital revolution is disrupting the relationship between banks and their customers and the new features continuously appear for enhancing customer experience. A significant rise in the adoption of internet banking has been witnessed across the globe, coupled with the rising penetration of the internet and smartphones. In addition, increasing consumer demand for digital banking services has resulted in a number of technological advancements in the banking industry with AI and blockchain at the core of these digital transformations. However, the increasing concerns for fraudulent transactions and cyber-attacks will affect the growth of the market during the forecast period.

Segmental Outlook  

The digital transaction management market is classified on the basis of solution and vertical. Based on solution, the market is segmented into electronic signatures, document digitization, workflow automation, and others. Based on vertical, the market is segmented into BFSI, IT & telecom, retail & ecommerce, government, and others.

Global Digital Transaction Management Market Share by vertical, 2018 (%)

BDSI contributes a significant share in the digital transaction management market 

BFSI have been contributing significantly in the growth of the digital transaction management market from the prologue of digital transaction technology. With continuously growing penetration of internet-based technologies in the emerging economies of the world; the industry has seen evolution in the form of digital platforms to ease their functioning of transaction in financial institutions. For instance, according to researchers at Reserve Bank of Australia in 2016, one-third of total PoS transactions were done using contactless cards which is around 300% more as compared to 2013. Therefore, with continuously growing online transactions, the demand for digital transaction management solutions are increasing in the BFSI sector across the globe.

Regional Outlook 

The global digital transaction management market is classified on the basis of geography, which includes North America, Europe, Asia-Pacific, and Rest of the World. North America is estimated to have considerable market share in the global digital transaction management market. The major countries which are contributing in the North American market growth include the US and Canada. The presence of major digital transaction management companies such as DocuSign, Inc., and high adoption of the digital economy are providing significant growth to the market. In addition, North American fintech investment is growing with pace due to an increase in the cyber-crimes across the region. Financial institutions are being attacked by various malware which resulting in the concession with money or data or both. According to the IMF, among financial institutions, banks are reported for 91% of the total attacks followed by insurance companies. Therefore, the digital transaction management market players are leveraging their efforts to support the adoption of the digital transaction platform for financial sector.

Global Digital Transaction Management Market Growth, by Region 2019-2025

Asia-Pacific is expected to propel with a considerable growth rate in the global market

Asia-Pacific is estimated to project a considerable CAGR in the digital transaction management market during the forecast period. The region comprises the fastest emerging economies including India and China. Growing digitalization in these emerging economies is creating enormous opportunities for the digital transaction management market in the region. Further, extensive support from the government organizations to encourage digital transactions in economies such as China, Japan, India, Australia, Indonesia, and others, is driving the trend towards advanced digital technologies in the banking sector.  In addition, the increasing proliferation of IoT devices which can potentially support digital transactions would further boost the digital transaction management market growth in the near future.

Market Players Outlook

The key players in the digital transaction management market are contributing significantly by providing advanced technology-based products and through expanding their geographical presence across the globe. The key players operating in the global digital transaction management market include DocuSign, Inc., ZorroSign, Inc., Adobe Inc., HelloSign, and Namirial S.p.A. These market players adopt various strategies such as product launch, partnerships, collaborations, merger, and acquisitions to sustain a strong position in the market.  

The Report Covers

• Market value data analysis of 2018 and forecast to 2025.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global digital transaction management market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.