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Contract Lifecycle Management Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

January 2023 | 142 pages | ID: C0B2873EAE4EN
IMARC Group

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The global contract lifecycle management (CLM) software market size reached US$ 1.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.7 Billion by 2028, exhibiting a growth rate (CAGR) of 11.27% during 2023-2028.

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.

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 at the global and regional level from 2023-2028. Our report has categorized the market based on deployment model, CLM offerings, enterprise size and industry.

Breakup by Deployment Model:

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:

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).

Key Questions Answered in This Report
1. What is the size of the global Contract Lifecycle Management (CLM) software market in 2022?
2. What is the expected growth rate of the global Contract Lifecycle Management (CLM) software market during 2023-2028?
3. What are the key factors driving the global Contract Lifecycle Management (CLM) software market?
4. What has been the impact of COVID-19 on the global Contract Lifecycle Management (CLM) software market?
5. What is the breakup of the global Contract Lifecycle Management (CLM) software market based on the deployment model?
6. What is the breakup of the global Contract Lifecycle Management (CLM) software market based on the CLM offerings?
7. What is the breakup of the global Contract Lifecycle Management (CLM) software market based on the enterprise size?
8. What is the breakup of the global Contract Lifecycle Management (CLM) software market based on the industry?
9. What are the key regions in the global Contract Lifecycle Management (CLM) software market?
10. Who are the key players/companies in the global Contract Lifecycle Management (CLM) 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 Wolters Kluwer N.V.
  15.3.2 IBM Corporation
  15.3.3 Icertis, Inc.
  15.3.4 SAP SE
  15.3.5 BravoSolution SPA
  15.3.6 Contracked BV
  15.3.7 Contract Logix, LLC
  15.3.8 Coupa Software Inc
  15.3.9 EASY SOFTWARE AG
  15.3.10 ESM Solutions Corporation
  15.3.11 Great Minds Software, Inc.
  15.3.12 Koch Industries, Inc.
  15.3.13 Ivalua Inc
  15.3.14 Optimus BT
  15.3.15 Oracle Corporation
  15.3.16 Symfact AG
  15.3.17 DocuSign, Inc
  15.3.18 Newgen Software Technologies Limited
  15.3.19 Zycus Infotech Private Limited
  15.3.20 Corcentric LLC (Determine)

LIST OF TABLES

Table 1: Global: Contract Lifecycle Management Software Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Contract Lifecycle Management Software Market Forecast: Breakup by Deployment Model (in Million US$), 2023-2028
Table 3: Global: Contract Lifecycle Management Software Market Forecast: Breakup by CLM Offerings (in Million US$), 2023-2028
Table 4: Global: Contract Lifecycle Management Software Market Forecast: Breakup by Enterprise Size (in Million US$), 2023-2028
Table 5: Global: Contract Lifecycle Management Software Market Forecast: Breakup by Industry (in Million US$), 2023-2028
Table 6: Global: Contract Lifecycle Management Software Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 7: Global: Contract Lifecycle Management Software Market Structure
Table 8: Global: Contract Lifecycle Management Software Market: Key Players

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$), 2017-2022
Figure 3: Global: Contract Lifecycle Management Software Market: Breakup by Deployment Model (in %), 2022
Figure 4: Global: Contract Lifecycle Management Software Market: Breakup by CLM Offerings (in %), 2022
Figure 5: Global: Contract Lifecycle Management Software Market: Breakup by Enterprise Size (in %), 2022
Figure 6: Global: Contract Lifecycle Management Software Market: Breakup by Industry (in %), 2022
Figure 7: Global: Contract Lifecycle Management Software Market: Breakup by Region (in %), 2022
Figure 8: Global: Contract Lifecycle Management Software Market Forecast: Sales Value (in Billion US$), 2023-2028
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$), 2017 & 2022
Figure 13: Global: Contract Lifecycle Management Software (Cloud-Based) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Contract Lifecycle Management Software (On-Premises) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Contract Lifecycle Management Software (On-Premises) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Contract Lifecycle Management Software (Licensing and Subscription) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Contract Lifecycle Management Software (Licensing and Subscription) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Contract Lifecycle Management Software (Services) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Contract Lifecycle Management Software (Services) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Contract Lifecycle Management Software (Large Enterprise) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Contract Lifecycle Management Software (Large Enterprise) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Contract Lifecycle Management Software (Small and Medium Enterprise) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Contract Lifecycle Management Software (Small and Medium Enterprise) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Contract Lifecycle Management Software (Automotive) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Contract Lifecycle Management Software (Automotive) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Global: Contract Lifecycle Management Software (Electrical and Electronics) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Global: Contract Lifecycle Management Software (Electrical and Electronics) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Global: Contract Lifecycle Management Software (Pharmaceutical) Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Global: Contract Lifecycle Management Software (Pharmaceutical) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Global: Contract Lifecycle Management Software (Retail and E-commerce) Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Global: Contract Lifecycle Management Software (Retail and E-commerce) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Global: Contract Lifecycle Management Software (Manufacturing) Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: Global: Contract Lifecycle Management Software (Manufacturing) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Global: Contract Lifecycle Management Software (BFSI) Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Global: Contract Lifecycle Management Software (BFSI) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Global: Contract Lifecycle Management Software (Others) Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Global: Contract Lifecycle Management Software (Others) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: North America: Contract Lifecycle Management Software Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: North America: Contract Lifecycle Management Software Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: Europe: Contract Lifecycle Management Software Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: Europe: Contract Lifecycle Management Software Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Asia Pacific: Contract Lifecycle Management Software Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Asia Pacific: Contract Lifecycle Management Software Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Middle East and Africa: Contract Lifecycle Management Software Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Middle East and Africa: Contract Lifecycle Management Software Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Latin America: Contract Lifecycle Management Software Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Latin America: Contract Lifecycle Management Software Market Forecast: Sales Value (in Million US$), 2023-2028


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