Press release
Cloud Services Fuel Expansion In The Digital Transaction Management Market: A Key Catalyst Accelerating Digital Transaction Management Market Growth in 2025
Digital Transaction Management
Digital Transaction Management Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for digital transaction management has experienced a steep upward trend in the last few years. Its value is projected to increase from $14 billion in 2024 to $17.36 billion in 2025, with a compound annual growth rate (CAGR) of 23.9%. Factors such as the digitization of business operations, enactment of E-signature laws, advancements in mobile technology, the rise of cloud computing, cybersecurity issues, and regulatory compliance have been identified as key contributors to the growth witnessed during the historic period.
Digital Transaction Management Market Size Forecast: What's the Projected Valuation by 2029?
Over the coming years, it is anticipated that the digital transaction management market will undergo dramatic expansion. It's predicted to surge to a value of $39.83 billion by 2029, with a compound annual growth rate of 23.1%. This growth over the projected period can be ascribed to factors such as integration of blockchain, advancements in artificial intelligence and automation, superior methods of authentication, extensive integration of ecosystems, and the evolution of regulations and compliance. Major trends for this period include the incorporation of enhanced security mechanisms, the growth of DTM solutions spanning different borders, the emergence of industry-focused DTM solutions, a heightened focus on user collaboration and workflows, and the continued development of mobile DTM solutions.
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What Are the Drivers Transforming the Digital Transaction Management Market?
The growth of the digital transaction management market is expected to be driven by a surge in demand for cloud services. By providing computing services over the internet, cloud services proffer resources that are scalable and adaptable. An increase in demand for cloud services is observed due to their scalability, affordability, and flexibility in accommodating diverse computing necessities. Digital transaction data's security and integration are streamlined by cloud services, thereby improving efficiency and accessibility in digital transaction management. In December 2023, for example, the European Commission (EC), the executive body of the European Union (EU) based in Belgium, stated that 42.5% of enterprises in the EU purchased cloud computing services. Primarily used for email, data storage, and office software, it signified a 4.2% rise compared to 2021. Therefore, the bulging demand for cloud services is accelerating the expansion of the digital transaction management market.
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What Long-Term Trends Will Define the Future of the Digital Transaction Management Market?
Top competitors in the digital transaction management market are shifting their strategies towards creating sophisticated products like opus 2 transaction management, to secure a leading position in the market. Tailored to help legal professionals navigate through legal procedures like mergers and acquisitions (M&A) and due diligence, Opus 2 transaction management was introduced by Opus 2, a leading UK-based cloud legal technology solution company, in August 2023. It was developed with the aim to simplify and enhance M&A activities for corporate lawyers while minimizing write-offs and elevating client satisfaction levels. The system comes equipped with features like simple workflow management, portals, issue alerts, wide-ranging analytics, templates, and best practices. It leverages firms' exclusive templates, built on years of expertise and familiarity, making it easier to recognize and implement best practices.
Which Segments in the Digital Transaction Management Market Offer the Most Profit Potential?
The digital transaction management market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Application: Retail, Healthcare, Information Technology (IT) And Telecommunications, Manufacturing, Banking, Financial Services And Insurance (BFSI), Travel And Transportation, Government, Other Applications
3) By End-User: Large Enterprises, Small And Medium Enterprises (SMEs)
Subsegments:
1) By Hardware: Scanners, Printers, Signature Capture Devices, Other Hardware
2) By Software: Digital Signature Software, Workflow Automation Software, Authentication And Verification Software, Document Management Software, Other Software
3) By Services: Consulting, Integration, Support And Maintenance, Training And Education, Other Services
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Which Firms Dominate the Digital Transaction Management Market by Market Share and Revenue in 2025?
Major companies operating in the digital transaction management market are SAP SE, Adobe Inc., Wolters Kluwer N.V., DocuSign Inc., Entrust Corp., Kofax Inc., OneSpan, Mitek Inc., Nitro Software Inc., PandaDoc, GetAccept, PactSafe, eDOC Innovations, InsureSign, Nintex USA Inc., Formstack Sign, Accusoft Corporation, SignNow, SignEasy, Namirial, SignRequest, eSignLive, Legalesign, ZorroSign Inc., HelloSign, Sertifi Inc., DocuFirst
Which Regions Offer the Highest Growth Potential in the Digital Transaction Management Market?
North America was the largest region in the digital transaction management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital transaction management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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