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Europe Digital Transaction Management Market to Surpass USD 27,066.1 million by 2030 – Astute Analytica

CHICAGO, UNITED STATES, January 31, 2023 /EINPresswire.com/ -- Europe digital transaction management market was estimated at US$ 3,063.2 million in 2021 and is expected to reach US$ 27,066.1 million by 2030, growing at a CAGR of 29.1 % during the forecast period 2022–2030.

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Digital transaction management refers to digitizing and automating paper-based transactions (DTM). DTM software offers a safe environment for storing and accessing sensitive data while enabling businesses to organize, track, and carry out digital transactions from beginning to end.

Few of the technologically advanced digital economies are found in Europe. High levels of technological availability and a dynamic digital ecosystem that facilitates quick, safe, and simple electronic transactions characterize these economies. As a result, there is a rising need in the market for digital transaction management for payment systems that can efficiently and reliably handle high volumes of digital transactions.

Market Dynamics

The development of mobile commerce: Mobile commerce is expanding as smartphones and tablets become more and more common. DTM solutions work well on mobile devices since they can be used anytime, anyplace. Thus, they are perfect for busy customers who wish to buy something quickly and easily.

The advancement of e-commerce: In the digital transaction management (DTM) industry, there is a growing need for effective and safe methods to manage transactions as more and more firms migrate their activities online. DTM solutions offer a paperless transaction process, which can help you save time and resources.

The demand for compliance with restrictions: Businesses are required to abide by a number of laws, including Sarbanes-Oxley, HIPAA, and PCI DSS. DTM solutions offer a secure means to manage sensitive information, which can assist businesses in adhering to various compliance standards. Some DTM suppliers also provide workflow features that help automate compliance-related duties.

Restraints

DTM-Related Technical Problems and Cyberattacks

Digital transactions may face technical difficulties or downtime, just like any other software that depends on technology. As the digital transaction management market continues to face serious cyber attack risks. The Internet of Things is likely to connect 22.3 billion devices by 2024, which raises the possibility of a growth in cyberattacks. Security problems in online transactions would negatively affect the market for DTM solutions. Throughout the projection period, rising concerns about fraudulent transactions and cyberattacks are likely to impede the market growth.

Segmentation Summary

Component Analysis

In 2021, the hardware segment lead the market with a share of 46.5% Contrarily, the software segment will rise at a growth rate of 29.9%.

The increasing need for Point of Sale (POS) equipment from vendors in a variety of markets, including retail, hospitality, and healthcare, is primarily what is causing the hardware market to expand. POS equipment is used to track customer profiles, sales orders, inventory records, and other POS transactions.

Solution Analysis

In 2021, the electronic signatures segment retained a share of 32%. A recent study found that the market for digital transaction management in Europe is seeing a sharp increase in demand for electronic signatures. Firms are looking for methods to streamline their operations and cut costs as the number of digital transactions increases. Without the use of physical papers, transactions can be completed securely and quickly with the help of electronic signatures.

In the last year, the use of electronic signatures has surged by more than 20%, according to a report on the digital transaction management sector. As more firms implement digital transaction management solutions, this growth is anticipated to continue.

Numerous companies create a wide range of e-signature software and solutions for business applications to effectively speed up transactions and lower operating costs.

Enterprise Size Overview

The large enterprise segment generated about 38.5% of the Europe digital transaction management industry. However, SMEs are likely to extend at an annual growth rate of 29.7%.

Digital transaction management solutions are frequently used by large businesses to maintain efficient business operations, make business processes more affordable, and enhance transaction workflows. Instead, to achieve effective transaction administration and automation, SMEs are gradually deploying digital transaction management systems.

End Users Overview

The BSFI segment of the Europe digital transaction management industry was accountable for recording about 22.5% in 2021. In order to improve and streamline its transaction management processes, BFSI deploys operations that make use of cloud-based digital transaction management solutions. Banks and other financial organizations turn to digital transformation to address problems made more difficult by increased competition.

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Prominent Competitors
The notable companies in the Europe digital transaction management (DTM) market are:
HelloSign
Adobe
Namirial
Ascertia
Conga
DocuFirst
Wolters Kluwer N.V.
Kofax Inc
DocuSign Inc.
OneSpan
eDOC Innovations
Nintex UK Ltd
Entrust Corp.
Other Prominent Players

Segmentation Outline

Europe digital transaction management (DTM) market segmentation focuses on Components, Solutions, Enterprise Size, Industry, and Region.
By Component
Hardware
Software
Services

By Solution
Electronic Signatures
Workflow Automation Submission, approval, confirmation, etc.)
Authentication/ Identity Proofing
Transaction Meta Processes (such as access control and auditing)
Document Archival
Others

By Enterprise Size
SMEs
Large Enterprises

By Industry
Retail
BSFI
Healthcare
IT & Telecom
Government
Real Estate
Utilities
Others

By Region
Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe

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About Astute Analytica
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

Aamir Beg
Astute Analytica
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