December 26, 2018
WELLESLEY, Mass., Dec. 26, 2018 – Due to the increased adoption of e-signatures, the increased demand for operational efficiency, improved cost savings and the rising demand for digital transaction management (DTM) solutions among multiple verticals, the global DTM market is rapidly expanding, according to BCC Research.
The global DTM market was valued at $12.1 billion in 2018 and is expected to reach $34.4 billion by 2023 at a compound annual growth rate (CAGR) of 23.3%, according to the report “Digital Transaction Management (DTM): Global Markets to 2023.”
Prominent players in the global DTM market include American Healthcare Lending, Ameri-Star Real Estate Company Inc., Endpoint Technologies Associates Inc., First Community Insurance, Intellicap, International Bank of Commerce and many others.
Market Restraints Include Skepticism, Cross-Border Interoperability Issues
Since all of the DTM solutions are cloud-based, some large enterprises still believe that storing and transacting confidential business documents and data can lead to a security breach or privacy issues. Many organizations are skeptical about potential data transfer accidents.
Additionally, e-signature regulations are often inconsistent between different countries. Countries such as the U.S., France and Germany often regulate the e-signing process. The differing levels of legal validity in different countries has also delayed international market development for vendors.
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Digital Transaction Management (DTM): Global Markets to 2023( IFT168A )
Publish Date: Dec 2018
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