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The global Contract Lifecycle Management (CLM) software market was valued at $ 1.9 Billion in 2022.
We expect the global Contract Lifecycle Management (CLM) software market to exhibit a CAGR of 11.27% during 2023-2028.
The rising adoption of contract lifecycle management software by several organizations to maintain a record of dates, prices, and information about internal as well as external entities is primarily driving the global Contract Lifecycle Management (CLM) software market.
The sudden outbreak of the COVID-19 pandemic has led to the increasing demand for contract lifecycle management software for assisting organizations in remotely forming alliances with other firms to expand their consumer base, during the lockdown scenario.
Based on the deployment model, the global Contract Lifecycle Management (CLM) software market has been divided into cloud-based and on-premises. Currently, cloud-based model holds the largest market share.
Based on the CLM offerings, the global Contract Lifecycle Management (CLM) software market can be categorized into licensing and subscription and services, where licensing & subscription currently exhibits a clear dominance in the market.
Based on the enterprise size, the global Contract Lifecycle Management (CLM) 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 (CLM) 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 (CLM) software market include 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).
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