Digital Transaction Management Market Size and Investment Feasibility Analysis Report 2030

Digital Transaction Management Industry Overview

The global digital transaction management market size was valued at USD 8.04 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 25.5% from 2022 to 2030. The growth of the market can be attributed to the paradigm shift toward workflow and process automation across numerous industries and industry verticals. Enterprises across the globe are looking forward to adopting efficient and seamless business methods, which can be implemented irrespective of the location. As such, Digital Transaction Management (DTM) solutions can help organizations in improving customer experiences while reducing transaction times, thereby creating opportunities for the growth of the market over the forecast period.

The strong emphasis businesses across the globe are putting on eliminating the conventional approaches and paperwork associated with the management of various business activities is expected to accentuate the growth of the market. At the same time, advances in technology are paving the way for more secure and reliable digital transaction management solutions. For instance, blockchain technology offers a series of timestamped data archives in the form of a chain linking together all the archives. In other words, digital transaction management solutions based on blockchain technology using a decentralized network can potentially prevent malicious attacks.

Gather more insights about the market drivers, restrains and growth of the Global Digital Transaction Management Market

U.S. digital transaction management market size, by component, 2020 - 2030 (USD Million)

The continued adoption of various practices and electronic tools by businesses across the globe to optimize routine document-based tasks is expected to propel the growth of the market over the forecast period. The increasing need for secure record filing is also expected to contribute to the growth of the market. Businesses are focusing on adopting digital transaction management solutions as these solutions cover all the aspects of document lifecycle from creation to storage. Digital transaction management solutions also help in ensuring easier, faster, and safer business processes.

The increasing adoption of cloud-based services across the globe is expected to create growth opportunities for the market over the forecast period. A consistent approach toward cloud-based filing management and storage can potentially lay the foundations for paperless documentation. Furthermore, indexing, document capture, safe sharing and access control, searching and retrieval, encryption, integration, and backup capabilities are considered the main components of document management systems and the essentials for digital transaction management. Apart from these, content analytics capabilities in digital transaction management solutions can also help businesses in eliminating redundant data entries.

However, online services and solutions based on digital technologies are often vulnerable to cyberattacks and fraud. Online transactions are typically subjected to fraudulent activities, such as merchant and triangulation frauds, identity thefts, phishing, affiliate and clean frauds, counterattacks, and pagejacking. As such, the growing concerns over fraudulent transactions and cyberattacks are expected to hinder the growth of the market over the forecast period. The growing instances of security breaches and cyberattacks to default digital transactions are particularly anticipated to take a toll on the demand for digital transaction management solutions.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

  • Computerized Maintenance Management System Market - The global computerized maintenance management system market size was valued at USD 1.06 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 10.9% from 2023 to 2030.
  • Next Generation Computing Market - The global next generation computing market size was valued at USD 96.2 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 19.1% from 2022 to 2030.

Market Share Insights

  • September 2021: OneSpan announced that BankID, a personal electronic ID for signing online and securing identification used by all the banks in Norway, has implemented anti-fraud and cloud authentication solutions from OneSpan in its operations.

Key Companies profiled:

Some prominent players in the global digital transaction management market include

  • Adobe
  • Ascertia
  • DocuFirst
  • DocuSign, Inc.
  • eDOC Innovations
  • Entrust Corp.
  • Wolters Kluwer N.V.
  • Kofax Inc.
  • Nintex U.K. Ltd.
  • OneSpan

Order a free sample PDF of the Digital Transaction Management Market Intelligence Study, published by Grand View Research.

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