A new market study, titled “Digital Transactions Market” has been featured on Market Research Future.
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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Growing connectivity and number of internet users, increasing implementation of IT security, development of encryption, falling digital divide is expected to lead to faster adoption of the digital transaction management market. The enactment of laws to make digital transactions admissible in court proceedings is regulatory driver supporting the growth of the market. Automation and reduced work flow coupled improved scalability and efficiency results in reduced cost of transaction is another benefit accrued by the implementation of DTM.
Restraints
Lack of common DTM standards and the nascent stage of technology are the critical restraint on the market. Concerns over data security and complications arising due to third party involvement is another restraint on the market. Deliberate subverting and weakening of cryptography standards and interference from state apparatus and intelligence agencies is a threat to the market.
Segmentation:
To generate an accurate understanding of the global digital transaction management market, the report has been segmented on the basis of component, type, application and regions.
Dominant 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.
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Digital Transactions MarketContinuously rising adoption of digital solutions to manage and automate business along with transaction management processes are few major boosters in the digital transaction management market.
Not only this, but the growing popularity of digital payment modes has also stimulated the demand for DTM solutions and can help the market expand favorably in the coming years.Technological advancements have given way to highly secure and stable DTM solutions.
For example, the blockchain technology has picked up immense speed in recent years, as it helps provide a set of timestamped data records in a chain form that connects all the records.
Each transaction is proof of consent provided by the end user who started the transaction with the use of digital signatures.
Advances in these digital technologies are expected to boost the adoption of DTM solutions in the following years.DTM management market has been segmented with respect to components, solutions, and end user.The market segmentation, with regard to solutions, includes e-signature, document archival, workflow automation, and authentication.
The E-Signature segment leads the digital transaction management and is growing at a rate of 26.47% while the workflow automation market is poised to achieve a growth rate of 28.85% from 2017 to 2023.The segments depending on component, are hardware, services, and software.
The dawn of the digital era has given rise to technological innovations in transactions done on a daily basis marking the digital transformation journey of common people.
However, these digital transactions have increased the probability of security breaches incurring a huge monetary loss.
You never know your website might be the next target!
The hacker may be spying on you!
Automatic Content Recognition Market: By Solution (Audio, Video and Image Recognition, Voice, Real Time Content Analytics), By Service (Professional, Managed), End User (IT & Telecommunication, Healthcare) – Global Forecast till 2027Market OverviewThe capabilities of client applications are being developed significantly in the recent times, due to an increased need of end users to find relevant content online.
The concept of ACR enables rapid collection of detailed information about the content without any text-based input or search efforts.
Thus, helping users deal with multimedia more effectively while making applications more intelligent.
The rapidly growing adoption rates of this technology through several industry verticals is irrefutably creating a plethora of prospects for developers and vendors to develop applications to their maximum potential, thus increasing the potential for development of the market.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/1208Segmental AnalysisThe automatic content market globally is segmented into end-user application, technology, and region.
The media, advertising, & entertainment segment is controlling the market as reported in 2017 and is also anticipated to develop at the highest rate during the forecast period.
By region, the market is segmented into regions such as North America, Europe, Asia-Pacific, and the Rest of the World.Detailed Regional Analysis The regional analysis of the market consists of regions such as North America, Europe, Asia Pacific, and the Rest of the World.
