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Contract Lifecycle Management Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global contract lifecycle management (CLM) software market size reached US$ 1.70 Billion in 2021 and it is expected to reach US$ 3.30 Billion by 2027, exhibiting at a CAGR of 11.4% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Contract lifecycle management (CLM) software helps automate and streamline contract processes during key stages, including initiation, authoring, process and workflow, negotiation and approval, execution, ongoing management, and contract renewal. It is integrated with electronic signature (e-signature) tools that aid in creating an easy-to-use and secured central contract repository. It also provides email reminders and other alerts and analytics and reporting of contracts. At present, it finds extensive application in various end use industries, including automotive, electronics, healthcare, and e-commerce, for allowing organizations to minimize infrastructural investments related to contract management and improve the overall profitability. 

 

 
 

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Contract Lifecycle Management Software Market Trends:

The increasing complexity of business operations represents one of the key factors driving the adoption of CLM software to minimize risks, design a better compliance management framework, and enhance the experience of the consumers. In addition, cloud-based CLM software is gaining immense traction in small and medium-scale enterprises (SMEs) as it allows self-service contract creation, manages templates and pre-approved alternative clauses, and provides real-time collaboration for a faster contract turnaround. It also includes version control and comparison tools to ease and track contract negotiations, safeguard emails and attachments, and reduce compliance risk by automating the contract approval process. Apart from this, the integration of artificial intelligence (AI), the internet of things (IoT), machine learning (ML), and voice activation features provide high accuracy and efficiency and eliminate the risks associated with contract lapsing. This, in confluence with rising focus of several organizations on large-scale collaborations to cope up with constant alterations in their businesses, is anticipated to offer lucrative growth opportunities to key market players operating in the industry.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global contract lifecycle management software market report, along with forecasts for growth at the global and regional level from 2022-2027. Our report has categorized the market based on deployment model, CLM offerings, enterprise size and industry.

Breakup by Deployment Model:

 

 
 

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  • Cloud-Based 
  • On-Premises 
     

Based on the deployment model, the market has been segmented into cloud-based and on-premises.

Breakup by CLM Offerings:

  • Licensing and Subscription 
  • Services 
     

The licensing and subscription segment currently accounts for the largest market share as it helps in protecting the rights of the parties involved in a clear and concise manner.

Breakup by Enterprise Size:

  • Large Enterprise 
  • Small and Medium Enterprise  
     

Based on the enterprise size, the market has been segmented into large enterprise and small and medium enterprise.

Breakup by Industry:

  • Automotive 
  • Electrical and Electronics  
  • Pharmaceutical 
  • Retail and E-commerce  
  • Manufacturing 
  • BFSI  
  • Others  
     

Based on the industry, the market has been segmented into automotive, electrical and electronics, pharmaceutical, retail and e-commerce, manufacturing, BFSI and others.

Regional Insights:

 

 
 

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  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
     

Region-wise, the market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Wolters Kluwer N.V., IBM Corporation, Icertis, Inc., SAP SE, BravoSolution SPA, Contracked BV, Contract Logix, LLC,  Coupa Software Inc., EASY SOFTWARE AG, ESM Solutions Corporation, Great Minds Software, Inc., Koch Industries, Inc., Ivalua Inc., Optimus BT, Oracle Corporation, Symfact AG, DocuSign, Inc., Newgen Software Technologies Limited, Zycus Infotech Private Limited, and Corcentric LLC (Determine).

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Deployment Model, CLM Offerings, Enterprise Size, Industry, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered CLM Matrix, IBM Emptoris, Icertis, SAP, BravoSolution, Contracked, Contract Logix, Coupa Software, Determine, Easy Software, ESM Solutions, Great Minds Software, Infor, Ivalua, Optimus BT, Oracle, Symfact, SpringCM, Newgen Software and Zycus
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1   Preface
2   Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Contract Lifecycle Management Software Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Breakup by Deployment Model 
    5.5    Market Breakup by CLM Offerings 
    5.6    Market Breakup by Enterprise Size 
    5.7    Market Breakup by Industry 
    5.8    Market Breakup by Region 
    5.9    Market Forecast 
6   Market Breakup by Deployment Model 
    6.1    Cloud-Based 
        6.1.1    Market Trends
        6.1.2    Market Forecast
    6.2    On-Premises 
        6.2.1    Market Trends
        6.2.2    Market Forecast
7   Market Breakup by CLM Offerings 
    7.1    Licensing and Subscription 
        7.1.1    Market Trends
        7.1.2    Market Forecast
    7.2    Services 
        7.2.1    Market Trends
        7.2.2    Market Forecast
8   Market Breakup by Enterprise Size 
    8.1    Large Enterprise 
        8.1.1    Market Trends
        8.1.2    Market Forecast
    8.2    Small and Medium Enterprise  
        8.2.1    Market Trends
        8.2.2    Market Forecast
9   Market Breakup by Industry 
    9.1    Automotive 
        9.1.1    Market Trends
        9.1.2    Market Forecast
    9.2    Electrical and Electronics  
        9.2.1    Market Trends
        9.2.2    Market Forecast
    9.3    Pharmaceutical 
        9.3.1    Market Trends
        9.3.2    Market Forecast
    9.4    Retail and E-commerce  
        9.4.1    Market Trends
        9.4.2    Market Forecast
    9.5    Manufacturing 
        9.5.1    Market Trends
        9.5.2    Market Forecast
    9.6    BFSI  
        9.6.1    Market Trends
        9.6.2    Market Forecast
    9.7    Others  
        9.7.1    Market Trends
        9.7.2    Market Forecast
10  Market Breakup by Region 
    10.1    North America 
        10.1.1    Market Trends
        10.1.2    Market Forecast
    10.2    Europe 
        10.2.1    Market Trends
        10.2.2    Market Forecast
    10.3    Asia Pacific
        10.3.1    Market Trends
        10.3.2    Market Forecast
    10.4    Middle East and Africa
        10.4.1    Market Trends
        10.4.2    Market Forecast
    10.5    Latin America
        10.5.1    Market Trends
        10.5.2    Market Forecast
11  Global Contract Lifecycle Management Software Industry: SWOT Analysis 
    11.1    Overview 
    11.2    Strengths
    11.3    Weaknesses 
    11.4    Opportunities
    11.5    Threats
12  Global Contract Lifecycle Management Software Industry: Value Chain Analysis 
13  Global Contract Lifecycle Management Software Industry: Porters Five Forces Analysis 

    13.1     Overview 
    13.2     Bargaining Power of Buyers
    13.3     Bargaining Power of Suppliers 
    13.4     Degree of Competition
    13.5     Threat of New Entrants
    13.6     Threat of Substitutes
14  Global Contract Lifecycle Management Software Industry: Price Analysis 
15  Competitive Landscape

    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    CLM Matrix   
        15.3.2    IBM Emptoris 
        15.3.3    Icertis  
        15.3.4    SAP 
        15.3.5    BravoSolution 
        15.3.6    Contracked 
        15.3.7    Contract Logix 
        15.3.8    Coupa Software 
        15.3.9    Determine 
        15.3.10      Easy Software 
        15.3.11      ESM Solutions 
        15.3.12      Great Minds Software 
        15.3.13      Infor 
        15.3.14      Ivalua 
        15.3.15      Optimus BT 
        15.3.16      Oracle 
        15.3.17      Symfact 
        15.3.18      SpringCM 
        15.3.19      Newgen Software 
        15.3.20      Zycus 

List of Figures

Figure 1: Global: Contract Lifecycle Management Software Market: Major Drivers and Challenges
Figure 2: Global: Contract Lifecycle Management Software Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Contract Lifecycle Management Software Market: Breakup by Deployment Model (in %), 2021
Figure 4: Global: Contract Lifecycle Management Software Market: Breakup by CLM Offerings (in %), 2021
Figure 5: Global: Contract Lifecycle Management Software Market: Breakup by Enterprise Size (in %), 2021
Figure 6: Global: Contract Lifecycle Management Software Market: Breakup by Industry (in %), 2021
Figure 7: Global: Contract Lifecycle Management Software Market: Breakup by Region (in %), 2021
Figure 8: Global: Contract Lifecycle Management Software Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 9: Global: Contract Lifecycle Management Software Industry: SWOT Analysis
Figure 10: Global: Contract Lifecycle Management Software Industry: Value Chain Analysis
Figure 11: Global: Contract Lifecycle Management Software Industry: Porter’s Five Forces Analysis
Figure 12: Global: Contract Lifecycle Management Software (Cloud-Based) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Contract Lifecycle Management Software (Cloud-Based) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Contract Lifecycle Management Software (On-Premises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Contract Lifecycle Management Software (On-Premises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Contract Lifecycle Management Software (Licensing and Subscription) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Contract Lifecycle Management Software (Licensing and Subscription) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Contract Lifecycle Management Software (Services) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Contract Lifecycle Management Software (Services) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Contract Lifecycle Management Software (Large Enterprise) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Contract Lifecycle Management Software (Large Enterprise) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Contract Lifecycle Management Software (Small and Medium Enterprise) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Contract Lifecycle Management Software (Small and Medium Enterprise) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Contract Lifecycle Management Software (Automotive) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Contract Lifecycle Management Software (Automotive) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Contract Lifecycle Management Software (Electrical and Electronics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Contract Lifecycle Management Software (Electrical and Electronics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Contract Lifecycle Management Software (Pharmaceutical) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Contract Lifecycle Management Software (Pharmaceutical) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: Contract Lifecycle Management Software (Retail and E-commerce) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Contract Lifecycle Management Software (Retail and E-commerce) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Global: Contract Lifecycle Management Software (Manufacturing) Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Global: Contract Lifecycle Management Software (Manufacturing) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Global: Contract Lifecycle Management Software (BFSI) Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Global: Contract Lifecycle Management Software (BFSI) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Global: Contract Lifecycle Management Software (Others) Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Global: Contract Lifecycle Management Software (Others) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: North America: Contract Lifecycle Management Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: North America: Contract Lifecycle Management Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Europe: Contract Lifecycle Management Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Europe: Contract Lifecycle Management Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Asia Pacific: Contract Lifecycle Management Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Asia Pacific: Contract Lifecycle Management Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Middle East and Africa: Contract Lifecycle Management Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Middle East and Africa: Contract Lifecycle Management Software Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Latin America: Contract Lifecycle Management Software Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Latin America: Contract Lifecycle Management Software Market Forecast: Sales Value (in Million US$), 2022-2027

List of Tables

Table 1: Global: Contract Lifecycle Management Software Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Contract Lifecycle Management Software Market Forecast: Breakup by Deployment Model (in Million US$), 2022-2027
Table 3: Global: Contract Lifecycle Management Software Market Forecast: Breakup by CLM Offerings (in Million US$), 2022-2027
Table 4: Global: Contract Lifecycle Management Software Market Forecast: Breakup by Enterprise Size (in Million US$), 2022-2027
Table 5: Global: Contract Lifecycle Management Software Market Forecast: Breakup by Industry (in Million US$), 2022-2027
Table 6: Global: Contract Lifecycle Management Software Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 7: Global: Contract Lifecycle Management Software Market Structure
Table 8: Global: Contract Lifecycle Management Software Market: Key Players

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Key Questions Answered in This Report

The global contract lifecycle management software market was valued at US$ 1.70 Billion in 2021.

We expect the global contract lifecycle management software market to exhibit a CAGR of 11.4% during
2022-2027.

The rising adoption of contract lifecycle management software by several organizations for maintaining
a record of dates, prices, and information about internal as well as external entities, is currently driving
the global contract lifecycle management software market.

The sudden outbreak of the COVID-19 pandemic has led to the increasing demand for contract lifecycle
management software as it assists organizations in remotely forming alliances with other firms to
expand their consumer base.

Based on the deployment model, the global contract lifecycle management software market has been
divided into cloud-based and on-premises. Currently, cloud-based model holds the largest market share.
 

Based on the offerings, the global contract lifecycle management software market can be categorized
into licensing & subscription and services, where licensing & subscription exhibits a clear dominance in
the market.

Based on the enterprise size, the global contract lifecycle management software market has been
bifurcated into large enterprise and small and medium enterprise. Currently, large enterprise accounts
for the majority of the total market share.

Based on the industry, the global contract lifecycle management software market can be segmented
into automotive, electrical and electronics, pharmaceutical, retail and e-commerce, manufacturing, BFSI,
and others. Among these, the manufacturing sector currently exhibits a clear dominance in the market.

On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East
and Africa, and Latin America, where North America currently dominates the global market.

Some of the major players in the global contract lifecycle management software market include CLM
Matrix, IBM Emptoris, Icertis, SAP, BravoSolution, Contracked, Contract Logix, Coupa Software,
Determine, Easy Software, ESM Solutions, Great Minds Software, Infor, Ivalua, Optimus BT, Oracle,
Symfact, SpringCM, Newgen Software, and Zycus.

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