The global contract lifecycle management software market reached a value of US$ 1.51 Billion in 2020. 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. Looking forward, IMARC Group expects the global contract lifecycle management software market to reach a value of US$ 3.04 Billion by 2026, exhibiting a CAGR of 11.87% during 2021-2026.
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.
Market Summary:
- Based on the deployment model, the market has been segmented into cloud-based and on-premises.
- Based on the CLM offerings, the market has been segmented into licensing & subscription and services. Licensing & subscription currently accounts for the highest share.
- Based on the enterprise size, the market has been segmented into large enterprise and small and medium enterprise.
- Based on the industry, the market has been segmented into automotive, electrical and electronics, pharmaceutical, retail and e-commerce, manufacturing, BFSI and others.
- Region-wise, the market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
- 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.
Key Questions Answered in This Report:
- How has the global contract lifecycle management software market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global contract lifecycle management software industry?
- What has been the impact of COVID-19 on the global contract lifecycle management software industry?
- What is the breakup of the global contract lifecycle management software market on the basis of deployment model?
- What is the breakup of the global contract lifecycle management software market on the basis of CLM offerings?
- What is the breakup of the global contract lifecycle management software market on the basis of enterprise size?
- What is the breakup of the global contract lifecycle management software market on the basis of industry?
- What are the various stages in the value chain of the global contract lifecycle management software market?
- What are the key driving factors and challenges in the global contract lifecycle management software market?
- What is the structure of the global contract lifecycle management software market and who are the key players?
- What is the degree of competition in the global contract lifecycle management software market?
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