Digital transaction management market to reach $93.13 billion by 2032; Increased investment in secure technology drives growth, says The Brainy Insights

Newark, Oct. 9, 2023 (GLOBE NEWSWIRE) - Brainy Insights estimates that the $10 billion global digital transaction management market in 2022 will reach $93.13 billion by 2032. Rapid urbanization, adoption of smart technologies and increased internet access have increased the demand and popularity of digital financial services such as mobile banking and digital payments, requiring businesses to embrace technology and integrate it into their offerings. Business digitalization makes faster and more customer-centric services possible. To maintain their market share, industry firms are forced to improve their business offerings to meet increased customer expectations. Due to the need for contactless transactions caused by the COVID-19 pandemic, the adoption of digital payments has increased dramatically. The market is predicted to expand as a result of this shift to digital payments. By automating tasks, artificial intelligence can improve safety, reduce human error, and support the development of customer-centric strategies. Control mechanisms will reduce the likelihood of financial abuse by increasing compliance. Long-term customer retention will depend on fintech's ability to optimize processes for users and provide transparent business transactions.

Main forecast for the global digital transaction management market

North America is expected to grow the fastest during the forecast period. This region utilizes the most advanced technologies in digital transaction management, providing businesses and other stakeholders with access to cutting-edge software, hardware and solutions that meet their requirements and expectations. The market is growing due to the rapid adoption of digital transaction management systems or solutions provided by the existing and improving digital infrastructure. The market is expanding and growing due to increasing collaboration and partnerships in creating a secure, sustainable, and safe digital economy.

In 2022, the solutions segment dominated the market with the largest market share of 63% and a market size of $6.3 billion. The segment consists of solutions and services. In 2022, the solutions segment dominated the market with the largest market share of 63% and a market size of $6.3 billion.

In 2022, the solutions segment dominated the market with the largest market share of 63% and a market size of $6.3 billion.

In 2022, the BFSI segment dominated the market with the largest market share of 36% and a market size of $3.6 billion.

The application segment consists of retail, healthcare, IT & communication, manufacturing, BFSI, travel & transportation, public sector and others. In 2022, the BFSI segment dominated the market with the largest market share of 36% and a market size of $3.6 billion.

In 2022, the large enterprise segment dominated the market with the largest market share of 58% and a market size of $5.8 billion. The user segment is divided into large enterprises and small and medium enterprises. In 2022, the large enterprise segment dominated the market with the largest market share of 58% and a market size of $5.8 billion.

Market Development

February 2022 - SkySlope, a leading real estate transaction management platform based in Sacramento, merged with Payload Keybox. This cutting-edge fintech platform offers the real estate market a variety of digital payment options. SkySlope users can quickly and securely automate the collection of Earnest Money Deposits (EMDs) and their transfer to their SkySlope accounts. SkySlope, the leading software platform used in residential real estate transactions, provides agents with a suite of products designed to accelerate the home buying and selling process from contract to closing. More than half of the top 20 brokerages in the country are SkySlope partners.

The scope and segmentation of the report

Based on value (in U.S. dollars), the market is analyzed. All segments have been analyzed at the global, regional, and country levels. The study includes an analysis of more than 30 countries for each part. The report analyzes the growth drivers, opportunities, restraints, and challenges to provide key market insights. The study utilizes Porter's five forces model, attractiveness analysis, product analysis, supply and demand analysis, competitor position analysis, distribution and marketing channel analysis.

O Brainy Insights:

Brainy Insights is a research company focused on providing actionable recommendations based on data analytics to companies to improve their business strategy. We have a robust forecasting and estimation model to meet client objectives, delivering quality results in the shortest possible time. We provide both customized (with clients) reports and syndicated reports. Our repository of syndicated reports is diverse across all categories and subcategories in all areas. Our customized solutions are tailored to meet our clients' requirements, whether they are expanding or planning a new product launch in a global market.

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Avinash D.

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