Digital Transaction management Market to Witness Comprehensive Growth by 2027
Digital transaction management is cloud based business transaction management service, which is used to manage document based transactions in a completely electronic manner. Major components of digital transaction management are e-signature, authentication/identity proofing, document archival, workflow automation (submission, approval, confirmation, etc.) and transaction meta processes (such as access control and auditing).
Digital Transaction management market: Drivers and Challenges
The major growth drivers of the Digital Transaction management market include rising adaptation in small and medium enterprises and growing advancements in digital technologies. In addition, Use of Digital Transaction management in various industry verticals shall drive the growth of Digital Transaction management market. Adaptation due to increasing demand for cloud based services across the globe has led to growth of the Digital Transaction management across the globe. Rise in security concerns for digital business transaction and growing demand for workflow automation are expected to drive the growth of global digital transaction management market.
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However, the major challenge faced by the Digital Transaction managements providers is integration of digital transaction management services with existing IT infrastructure of enterprises, may hamper the growth of the digital transaction management market across the globe.
Digital Transaction management market: Segmentation
Global Digital Transaction management Market can be segmented as:
Digital Transaction management market Segmentation on the basis of Type:
Global Digital Transaction management market on the basis of type segmented into Authentication, E-Signature Non-Repudiation and Workflow Automation. Workflow automation and e-signature are the most widely adopted technologies in the market
Digital Transaction management market Segmentation on the basis of Verticals:
Digital Transaction management market can be segmented on the basis of industry, means areas where Digital Transaction management are used. By industry includes retail, BFSI, healthcare, IT & Telecommunication, travel & transportation, media & entertainment, Government and other.
Digital Transaction management market Segmentation on the basis of End-Users:
Global Digital Transaction management market on the basis of End-users segmented into Large Enterprises and small and medium enterprises. Large enterprises are becoming the prominent end users in digital transaction management market.
Digital Transaction management market: Competition Landscape
Digital Transaction management market: Key contracts
Key Contracts in Digital Transaction management market are as:
In April 2016, IBM and DocuSign have been entered into a strategic global partnership, with an objective to combine strengths of both companies in order to help enterprises to drive transformation with digital transaction management.
Digital Transaction management market: Key Players
Some of the major players in Global Digital Transaction management Market Apple, IBM Corporation, Sony Corporation, Microsoft Corporation, Oracle, HP, eSignLive, DocuSign Inc., ThinkSmart, Box, Kofax, Fluix and Captricity
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Digital Transaction management market: Regional Overview
North America is holding the largest market share for Digital Transaction management market due to technological advancements in enterprise owing to the presence of large number of established key players in that region. Due to high adaptation in various industry verticals in Asia Pacific will hold maximum market share for Digital Transaction management in near future. Europe is fastest growing market for Digital Transaction management due to use of cloud based services. Sturdy economic progress, driving the growth of Digital Transaction management market in MEA region. The Demand for Digital Transaction management market has risen dramatically over the past 2 years globally.
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