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Contract Lifecycle Management Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global contract lifecycle management (CLM) software market size reached US$ 1.51 Billion in 2020. Looking forward, IMARC Group expects the market to reach a value of US$ 3.04 Billion by 2026, exhibiting a CAGR of 11.87% during 2021-2026. 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 assists in efficiently managing the complete process of a contract signed between two or more organizations. It comprises of eight vital steps: contract drafting, negotiation, approval, compliance and administration, repository, compliance optimization, retrieval, and renewal, amendments and disposition. CLM software ensures adherence to regulations, mitigates risks associated with a contract, protects an organization from incurring a penalty for non-compliance and enhances their decision-making process. Apart from this, it also helps the organization in forming alliances with other firms in order to expand their consumer base. As a result, the demand for CLM software is rising in the public, healthcare, manufacturing and financial service sectors across the globe. 

 

 
 

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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Global Contract Lifecycle Management Software Market Drivers:

CLM software helps lawyers in retrieving similar contracts from the library for reference purposes which can be viewed virtually in formats like Microsoft Word, PowerPoint and Excel. This reduces the time to review and enables organizations to identify loopholes in their system. This software also offers efficiency and transparency in reporting mechanisms and management controls, and allows organizations to ensure compliance with acts implemented by governing authorities. Moreover, the emergence of cloud-based CLM software is driving the demand for this solution across various industries as it offers an easy-to-use interface, provides seamless integration with popular CLM systems, enables dynamic workflow approvals and significantly reduces overall costs. In addition to this, it helps enterprises minimize infrastructural investments related to contract management. Due to rapid globalization, the requirement for a collaborative approach in handling projects and joint ventures has gained immense significance as it leads to better contract visibility for the concerned parties. On account of this, organizations are initiating large-scale collaborations to cope with constant alterations in their businesses which is expected to create a positive outlook for the CLM market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global contract lifecycle management software market, along with forecasts at the global and regional from 2021-2026. 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 
     

Based on the CLM offerings, the market has been segmented into licensing & subscription and services. Licensing & subscription currently accounts for the highest share.

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 also been examined with some of the key players being 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2020
Historical Period 2015-2020
Forecast Period 2021-2026
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$ 2299
Five User License: US$ 3399
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$), 2015-2020
Figure 3: Global: Contract Lifecycle Management Software Market: Breakup by Deployment Model (in %), 2020
Figure 4: Global: Contract Lifecycle Management Software Market: Breakup by CLM Offerings (in %), 2020
Figure 5: Global: Contract Lifecycle Management Software Market: Breakup by Enterprise Size (in %), 2020
Figure 6: Global: Contract Lifecycle Management Software Market: Breakup by Industry (in %), 2020
Figure 7: Global: Contract Lifecycle Management Software Market: Breakup by Region (in %), 2020
Figure 8: Global: Contract Lifecycle Management Software Market Forecast: Sales Value (in Billion US$), 2021-2026
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$), 2015 & 2020
Figure 13: Global: Contract Lifecycle Management Software (Cloud-Based) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 14: Global: Contract Lifecycle Management Software (On-Premises) Market: Sales Value (in Million US$), 2015 & 2020
Figure 15: Global: Contract Lifecycle Management Software (On-Premises) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 16: Global: Contract Lifecycle Management Software (Licensing and Subscription) Market: Sales Value (in Million US$), 2015 & 2020
Figure 17: Global: Contract Lifecycle Management Software (Licensing and Subscription) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 18: Global: Contract Lifecycle Management Software (Services) Market: Sales Value (in Million US$), 2015 & 2020
Figure 19: Global: Contract Lifecycle Management Software (Services) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 20: Global: Contract Lifecycle Management Software (Large Enterprise) Market: Sales Value (in Million US$), 2015 & 2020
Figure 21: Global: Contract Lifecycle Management Software (Large Enterprise) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 22: Global: Contract Lifecycle Management Software (Small and Medium Enterprise) Market: Sales Value (in Million US$), 2015 & 2020
Figure 23: Global: Contract Lifecycle Management Software (Small and Medium Enterprise) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 24: Global: Contract Lifecycle Management Software (Automotive) Market: Sales Value (in Million US$), 2015 & 2020
Figure 25: Global: Contract Lifecycle Management Software (Automotive) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 26: Global: Contract Lifecycle Management Software (Electrical and Electronics) Market: Sales Value (in Million US$), 2015 & 2020
Figure 27: Global: Contract Lifecycle Management Software (Electrical and Electronics) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 28: Global: Contract Lifecycle Management Software (Pharmaceutical) Market: Sales Value (in Million US$), 2015 & 2020
Figure 29: Global: Contract Lifecycle Management Software (Pharmaceutical) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 30: Global: Contract Lifecycle Management Software (Retail and E-commerce) Market: Sales Value (in Million US$), 2015 & 2020
Figure 31: Global: Contract Lifecycle Management Software (Retail and E-commerce) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 32: Global: Contract Lifecycle Management Software (Manufacturing) Market: Sales Value (in Million US$), 2015 & 2020
Figure 33: Global: Contract Lifecycle Management Software (Manufacturing) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 34: Global: Contract Lifecycle Management Software (BFSI) Market: Sales Value (in Million US$), 2015 & 2020
Figure 35: Global: Contract Lifecycle Management Software (BFSI) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 36: Global: Contract Lifecycle Management Software (Others) Market: Sales Value (in Million US$), 2015 & 2020
Figure 37: Global: Contract Lifecycle Management Software (Others) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 38: North America: Contract Lifecycle Management Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 39: North America: Contract Lifecycle Management SoftwareMarket Forecast: Sales Value (in Million US$), 2021-2026
Figure 40: Europe: Contract Lifecycle Management Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 41: Europe: Contract Lifecycle Management Software Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 42: Asia Pacific: Contract Lifecycle Management Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 43: Asia Pacific: Contract Lifecycle Management Software Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 44: Middle East and Africa: Contract Lifecycle Management Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 45: Middle East and Africa: Contract Lifecycle Management Software Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 46: Latin America: Contract Lifecycle Management Software Market: Sales Value (in Million US$), 2015 & 2020
Figure 47: Latin America: Contract Lifecycle Management Software Market Forecast: Sales Value (in Million US$), 2021-2026

List of Tables

Table 1: Global: Contract Lifecycle Management Software Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Contract Lifecycle Management Software Market Forecast: Breakup by Deployment Model (in Million US$), 2021-2026
Table 3: Global: Contract Lifecycle Management Software Market Forecast: Breakup by CLM Offerings (in Million US$), 2021-2026
Table 4: Global: Contract Lifecycle Management Software Market Forecast: Breakup by Enterprise Size (in Million US$), 2021-2026
Table 5: Global: Contract Lifecycle Management Software Market Forecast: Breakup by Industry (in Million US$), 2021-2026
Table 6: Global: Contract Lifecycle Management Software Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 7: Global: Contract Lifecycle Management Software Market Structure
Table 8: Global: Contract Lifecycle Management Software Market: Key Players

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Key Question Answered in this Report

The global contract lifecycle management software market was valued at US$ 1.51 Billion in 2020.

Sudden outbreak of the COVID-19 pandemic has led to the implementation of stringent lockdown regulations across several nations resulting in the increasing adoption of remote working models, thereby augmenting the demand for contract lifecycle management software.

We expect the global contract lifecycle management software market to grow at a CAGR of 11.87% during 2021-2026.

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 one of the factors driving the global contract lifecycle management software market.

Based on the deployment model, the global contract lifecycle management software market has been divided into cloud-based and on-premises. Currently, cloud-based deployment 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 currently exhibit a clear dominance in the market.

Based on the enterprise size, the global contract lifecycle management software market has been bifurcated into large enterprises, and small and medium enterprises. Currently, large enterprises account 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 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, etc.

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