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Global Contract Lifecycle Management Software Market: By Deployment Model: Cloud-Based, On-Premises; By CLM Offerings: Licensing and Subscription, Services; By Enterprise Size; By Industry; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Contract Lifecycle Management Software Market Outlook
The global contract lifecycle management software market was valued at USD 1.50 billion in 2020. The market is further estimated to grow in the forecast period of 2023-2028 at a CAGR of 16.9% to reach USD 3.84 billion by 2026.
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Based on the deployment model, the cloud-based segment accounted for the majority of the market share in 2020. On the basis of CLM offerings, the licensing and subscription segment currently dominates the global contract lifecycle management software market in 2020. Based on the enterprise size, the small and medium enterprise segment is projected to hold the major market share. Regionally, North America dominated the market in 2020, holding the majority of the total market share.
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Properties and Applications
Contract lifecycle management (CLM) software assists in the efficient management of contracts between two or more organisations. It comprises of eight steps, which include negotiation, contract drafting, approval, compliance and administration, repository, compliance optimization, retrieval, renewal, amendments, and disposition. The CLM software ensures adherence to regulations, and proactively address contract expirations and renewals, thus, saving the company from losing business opportunities. In order to expand its consumer base, the contract lifecycle management software assists the organization in forming alliances with other firms. Consequently, the demand for CLM software is gaining momentum in the public, healthcare, manufacturing, and financial service sectors across the globe. These factors are expected to drive the growth of the contract lifecycle management software market in the forecast period.
On the basis of the deployment model, the industry is segmented into:
- Cloud-Based
- On-Premises
The major offerings in the market are:
- Licensing and Subscription
- Services
The market can be broadly categorised on the basis of the enterprise size into:
- Large Enterprise
- Small and Medium Enterprise
On the basis of the end-use, the market is divided into:
- Automotive
- Electrical and Electronics
- Pharmaceutical
- Retail and E-commerce
- Manufacturing
- BFSI
- Others
The EMR report looks into the regional markets for contract lifecycle management software like North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.
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Market Analysis
Contract lifecycle management (CLM) software helps in reducing the time to review the contract and enables organisations to identify loopholes in the system. The software also offers efficiency and transparency in reporting mechanisms and management controls and enables organisations to ensure acts implemented by governing authorities. Moreover, the emergence of cloud-based CLM software offers an easy-to-use interface, which is driving the demand for this solution across various verticals. Furthermore, it also allows lawyers to access the archive of similar agreements to utilise them for reference purposes. The contract lifecycle management software provides efficiency and transparency in the reporting mechanism, which enables organisations to rectify issues in their system and flag challenging contracts before they are executed. These factors are expected to propel the growth of the contract lifecycle management market in the coming years.
Competitive Landscape
The report presents a detailed analysis of the following key players in the global contract lifecycle management software market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- SAP SE
- DocuSign
- Coupa Software Inc.
- Agiloft Inc.
- Icertis
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Deployment Model, CLM Offerings, Enterprise Size, Industry, Region |
| Breakup by Deployment Model | Cloud-Based, On-Premises |
| Breakup by CLM Offerings | Licensing and Subscription, Services |
| Breakup by Enterprise Size | Large Enterprise, Small and Medium Enterprise |
| Breakup by Industry | Automotive, Electrical and Electronics, Pharmaceutical, Retail and E-commerce, Manufacturing, BFSI, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | SAP SE, Coupa Software Inc., DocuSign, Agiloft Inc., Icertis, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Contract Lifecycle Management Software Market Analysis
8.1 Key Industry Highlights
8.2 Global Contract Lifecycle Management Software Historical Market (2018-2022)
8.3 Global Contract Lifecycle Management Software Market Forecast (2023-2028)
8.4 Global Contract Lifecycle Management Software Market by Deployment Model
8.4.1 Cloud-Based
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 On-Premises
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.5 Global Contract Lifecycle Management Software Market by CLM Offerings
8.5.1 Licensing and Subscription
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Services
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 Global Contract Lifecycle Management Software Market by Enterprise Size
8.6.1 Large Enterprise
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Small and Medium Enterprise
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.7 Global Contract Lifecycle Management Software Market by Industry
8.7.1 Automotive
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Electrical and Electronics
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Pharmaceutical
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Retail and E-commerce
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.7.5 Manufacturing
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2022)
8.7.5.3 Forecast Trend (2023-2028)
8.7.6 BFSI
8.7.6.1 Market Share
8.7.6.2 Historical Trend (2018-2022)
8.7.6.3 Forecast Trend (2023-2028)
8.7.7 Others
8.8 Global Contract Lifecycle Management Software Market by Region
8.8.1 North America
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2022)
8.8.1.3 Forecast Trend (2023-2028)
8.8.2 Europe
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2022)
8.8.2.3 Forecast Trend (2023-2028)
8.8.3 Asia Pacific
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2018-2022)
8.8.3.3 Forecast Trend (2023-2028)
8.8.4 Latin America
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2018-2022)
8.8.4.3 Forecast Trend (2023-2028)
8.8.5 Middle East and Africa
8.8.5.1 Market Share
8.8.5.2 Historical Trend (2018-2022)
8.8.5.3 Forecast Trend (2023-2028)
9 North America Contract Lifecycle Management Software Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Contract Lifecycle Management Software Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Contract Lifecycle Management Software Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Contract Lifecycle Management Software Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Contract Lifecycle Management Software Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.3.1 SAP SE
16.3.1.1 Company Overview
16.3.1.2 Product Portfolio
16.3.1.3 Demographic Reach and Achievements
16.3.1.4 Financial Summary
16.3.1.5 Certifications
16.3.2 DocuSign
16.3.2.1 Company Overview
16.3.2.2 Product Portfolio
16.3.2.3 Demographic Reach and Achievements
16.3.2.4 Financial Summary
16.3.2.5 Certifications
16.3.3 Coupa Software Inc.
16.3.3.1 Company Overview
16.3.3.2 Product Portfolio
16.3.3.3 Demographic Reach and Achievements
16.3.3.4 Financial Summary
16.3.3.5 Certifications
16.3.4 Agiloft Inc.
16.3.4.1 Company Overview
16.3.4.2 Product Portfolio
16.3.4.3 Demographic Reach and Achievements
16.3.4.4 Financial Summary
16.3.4.5 Certifications
16.3.5 Icertis
16.3.5.1 Company Overview
16.3.5.2 Product Portfolio
16.3.5.3 Demographic Reach and Achievements
16.3.5.4 Financial Summary
16.3.5.5 Certifications
16.3.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Contract Lifecycle Management Software Market: Key Industry Highlights, 2018 and 2028
2. Global Contract Lifecycle Management Software Historical Market: Breakup by Deployment Model (USD Billion), 2018-2022
3. Global Contract Lifecycle Management Software Market Forecast: Breakup by Deployment Model (USD Billion), 2023-2028
4. Global Contract Lifecycle Management Software Historical Market: Breakup by CLM Offerings (USD Billion), 2018-2022
5. Global Contract Lifecycle Management Software Market Forecast: Breakup by CLM Offerings (USD Billion), 2023-2028
6. Global Contract Lifecycle Management Software Historical Market: Breakup by Enterprise Size (USD Billion), 2018-2022
7. Global Contract Lifecycle Management Software Market Forecast: Breakup by Enterprise Size (USD Billion), 2023-2028
8. Global Contract Lifecycle Management Software Historical Market: Breakup by Industry (USD Billion), 2018-2022
9. Global Contract Lifecycle Management Software Market Forecast: Breakup by Industry (USD Billion), 2023-2028
10. Global Contract Lifecycle Management Software Historical Market: Breakup by Region (USD Billion), 2018-2022
11. Global Contract Lifecycle Management Software Market Forecast: Breakup by Region (USD Billion), 2023-2028
12. North America Contract Lifecycle Management Software Historical Market: Breakup by Country (USD Billion), 2018-2022
13. North America Contract Lifecycle Management Software Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Europe Contract Lifecycle Management Software Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Europe Contract Lifecycle Management Software Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Asia Pacific Contract Lifecycle Management Software Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Asia Pacific Contract Lifecycle Management Software Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Latin America Contract Lifecycle Management Software Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Latin America Contract Lifecycle Management Software Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Middle East and Africa Contract Lifecycle Management Software Historical Market: Breakup by Country (USD Billion), 2018-2022
21. Middle East and Africa Contract Lifecycle Management Software Market Forecast: Breakup by Country (USD Billion), 2023-2028
22. Global Contract Lifecycle Management Software Market Structure
Key Questions Answered in the Report
In 2020, the global contract lifecycle management software market attained a value of nearly USD 1.50 billion.
The market is projected to grow at a CAGR of 16.9% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 3.84 billion by 2026.
The major drivers of the industry, such as the growing demand for transparency and efficiency in business contracts, rising globalisation, increased need to manage data effectively and quickly, implementation of stringent regulatory policies, and rapid technological advancements, are expected to aid the market growth.
The key trends guiding the growth of the market include the growing adoption of cloud-based contract lifecycle management software and the development of easy-to-use interface.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with North America accounting for the largest market share.
The cloud-based segment is the leading deployment model of contract lifecycle management software in the industry.
The contract lifecycle management (CLM) offering segment is led by licensing and subscription.
The small and medium enterprise segment leads the industry.
The major end-use sectors for the product include automotive, electrical and electronics, pharmaceutical, retail and e-commerce, manufacturing, and BFSI, among others.
The major players in the industry are SAP SE, DocuSign, Coupa Software Inc., Agiloft Inc., and Icertis, among others.
Analyst Review
The global contract lifecycle management software market attained a value of USD 1.50 billion in 2020, driven by growing advancement in and acceptance of technology, and the increasing demand to manage data transparently and efficiently. Aided by the growing preference of cloud-based CLM software among consumers, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 16.9%. The market is projected to reach USD 3.84 billion by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its deployment model, the contract lifecycle management software industry can be bifurcated into cloud-based and on-premises, with the cloud-based segment accounting for the largest market share. On the basis of CLM offerings, the licensing and subscription segment accounts for the majority of the share in the industry. Based on enterprise-size, small and medium enterprises dominate the industry. On the basis of end uses, the industry is categorised into automotive, electrical and electronics, pharmaceutical, retail and e-commerce, manufacturing, and BFSI, among others. The major regional markets for contract lifecycle management software are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with North America accounting for the largest share of the market. The key players in the above market include SAP SE, DocuSign, Coupa Software Inc., Agiloft Inc., and Icertis, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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