The Digital Transaction Management (DTM) Market size is estimated to be USD 7.9 billion in 2022. The Digital Transaction Management (DTM) Market size is forecast to grow from USD 8.39 billion in 2023 to USD 13.69 billion by 2032, compounded. annual growth rate. (CAGR) of 6.30% during the forecast period (2023-2032). Paradigm shift towards workflow and process automation in many industries and sectors are the key factors driving the market growth.
The paradigm shift to workflow and process automation in many industries and sectors is responsible for the expansion of the market. Companies around the world are eager to adopt efficient and seamless business practices that can be used anywhere. Therefore, digital transaction management (DTM) solutions can help companies improve customer experience and reduce transaction time, opening opportunities for market expansion during the forecast period.
Key Companies in the digital transaction management (DTM) market include,
Assuresign
EuroNoVate
Namirial
DocuSign Inc.
Kofax Inc.
Nintex Inc.
eOriginal Inc.
Entrust Datacard Corporation
OneSpan
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Companies around the world strongly emphasize the old-fashioned methods of managing various business activities and the expansion of the market, which accelerates the elimination of paper. Digital event management solutions are becoming more reliable and secure thanks to technological developments. For example, blockchain technology provides a chain of time-stamped data repositories that link all repositories. In other words, blockchain-based decentralized networks to manage digital events can fight malicious attacks. The market is expected to grow during the forecast period as companies across the globe continue to adopt various procedures and technological tools to simplify routine document-based tasks. The market is expected to grow due to the increasing demand for secure archiving.
Segmentation
Solution-based Digital Transaction Management (DTM) market segmentation includes electronic signature, authentication, document archiving, and workflow automation. The market was dominated by the electronic signature segment.
Component segmentation of the Digital Event Management (DTM) market includes hardware, software, and services. The device category generated the most revenue.
Digital Transaction Management (DTM) market segmentation includes BFSI, Healthcare, Retail and Public Administration based on end-user. The BFSI category earned the highest revenue.
The adoption of digital transaction management solutions in enterprises is of utmost importance as these solutions cover all stages of the document lifecycle from creation to retention. In addition, digital event management tools make it easier, faster and safer to do business. Due to the global spread of cloud services, opportunities for market growth should be found during the forecast period. The foundation of paperless documentation can be laid with a unified approach to cloud-based file management and storage. In addition, core components of digital transaction management and records management systems include indexing, document capture, secure sharing and access control, search and retrieval, encryption, integration and backup. In addition to these, the content analytics capabilities of digital event management solutions can help businesses eliminate information overload.
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Regional Analysis:
By region, the study provides a market overview of North America, Europe, Asia Pacific and rest of the world. The North America Digital Event Management (DTM) market will dominate this market, North America has many large players and emerging companies offering digital event management solutions. The region is also known for being one of the first to adopt state-of-the-art digital event management solutions. Due to such factors, the North American regional market currently accounts for a significant share of the market.
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