Digital transaction is the emerging trend in digital market. It is a cloud service which manages document based transactions digitally. With growing advancement in technology, organizations are also rapidly growing and is adopting automation process to increase their operation frequency and efficiency. E-signature, authentication, document archival, workflow automation among others are some of the well-known solution in digital transaction management.
The increase in number of transaction done by consumers by using digital tools such as net banking, mobile banking, or from digital wallets is building high growth opportunity for digital transaction services providers such as DocuSign, Namirial, eOriginal or ThinkSmart companies. The increasing acceptance of digital transactions by consumers is making these providers to offers more innovative but secure platform for monetary transactions to their customers. These factors thus expected to drive the digital transaction management market in coming years.
Growth and development in cloud technology and services has broaden its capabilities and industry reach. Banking sector is also adopting cloud services to include more flexibility in its agile business model to meets the changing business as well as consumer needs. Cloud technology helps banking sector in automatically assemble, integrate the resources to meet the businesses demands. It also eliminates physical infrastructure costs and has make banks deployment services more efficient. Integration of customer real time data, incorporating third party services, and building a safe virtual environment of money transactions are some of benefits of online banking services. Banks can also collect client’s real time data and their preferences which helps them to improve customer interactions, and can offer more improvised services to them.
Online banking, mobile banking, digital wallets, ATMs, and other banking services are the well-known example of digital banking system. Moving bank on cloud has saved banks costs, improves its performance, agility, and efficiency. This move is not only making banking process easy but it also benefiting the customers.
The global digital transaction market is expected to grow approximately at USD 5,552.91 Million by 2023, approx. 25.73% of CAGR between 2017 and 2023.
The key players of digital transaction market includes DocuSign Inc. (U.S.), Insight Enterprises, Inc. (U.S.), Namirial Spa (Italy), ThinkSmart (U.S.), AssureSign LLC (U.S.), EuroNoVate (Switzerland), ZorroSign (U.S.), eSignLive (U.S.), eORiginal (U.S.) and others.
Global Digital Transaction Market Analysis & Forecast, from 2017 to 2023
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the digital transaction market
- To provide insights about factors affecting the market growth
- To analyze the digital transaction market based on porter’s five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World
- To provide country level analysis of the market with respect to the current market size and future prospective
- To provide country level analysis of the market for segment on the basis of solutions, component and end user
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the digital transaction market
- Technology Investors
- Research/Consultancy Firms
- Cloud Service Providers
- Security Service Providers
- Managed Service Providers
- Cloud Storage Providers
- Infrastructure Providers
- The global digital transaction market is expected to reach USD 5,552.91 Million by 2023.
- By solution, e-signature sub segment in digital transaction market accounts for the largest market share and is growing with approximately 26.47% CAGR during forecast period.
- By component, hardware sub segment holds the largest market growing with approximately 23.78% CAGR by the end of forecast period.
- By end user, commercial sub segment holds the largest market share and is growing with approximately 28.58% CAGR by the end of forecast period.
- Geographically, North America region has been projected to hold the largest market share in global digital transaction market followed by Europe region, while Asia Pacific ranks third in the digital transaction market.
Regional and Country Analysis of Digital transaction Market Estimation and Forecast
Digital transaction market is growing with the positive growth in all the regions. Increasing application areas year on year and advancement in technology and developed network architecture is driving the market on global scale. On the basis of region, the market has been segmented into North America, Europe, Asia-Pacific and Rest of the World. North America is dominating the global digital transaction market share followed by Europe which stands as the second biggest market due to rising m-commerce market whereas, Asia Pacific stands as third largest.
The reports also cover country level analysis:
- North America
- ·Rest of the Europe
- Asia – Pacific
- ·Rest of Asia-Pacific
- Rest of the World