Market Scenario:
Digital transaction management (DTM) is a cloud based service designed to digitally create, verify and manage electronic documents and document based transactions. The global digital transaction management market is anticipated to grow at 31 % of CAGR during the review period of 2017 and 2023.
Market Dynamics:
Drivers
The substitution of paper with electronic documentation, growing ecommerce, emergence of royalty based business models, digitization, and globalization which has created business transactions throughout the world has created antecedents for the growth of the market.
Potential of DTM to subsume parts of other process such as business process management (BPM), enterprise content management (ECM), workflow management and other document applications is expected to be a large market opportunity. The growing functionality and advantages of DTM such as e-signatures, proof audit trail and history, authentication and non-repudiation, co-browsing between the customer and the business, secure document transfer, faster, easier, and more convenient transfers of documents, certification, secure archiving are other drivers of the market.
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Global Key Player Market Digital Transaction Management (DTM) MarketDominant Players:
Some of the prominent players in digital transaction management market are DocuSign Inc. (U.S.), Oracle (U.S.), Apple (U.S.), ThinkSmart (U.S.), IBM Corporation (U.S.), Intel (U.S.), Microsoft Corporation (U.S.), Sony Corporation (Japan), HP (U.S.), eSignLive (Canada), and others.
Regional Analysis:
North America accounts for the largest share of the market, led by the U.S. owing to its large financial sector, being an economic powerhouse, presence of global players, faster uptake of new technology and first comer advantage. Europe is expected to be led by Germany, France and the U.K. The economic union of Europe with the Shenzhen agreement has provided an impetus to the market growth.
Asia-Pacific is projected to generate the fastest rate led by China, Japan and India owing to their fast developing economy and burgeoning I.T. sector. The Middle East and Africa region is expected to be skewed in favor of Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar. The Africa region is expected to generate a slow growth owing to lack of digitization.
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