Contract Lifecycle Management Software Market (By Offering: Licensing and Subscription, Services; By Deployment Mode: On-premise, Cloud; By Enterprise Size: Large Enterprises, Small and Medium Enterprises (SMEs); By End Use: Automotive, BFSI, Electrical and Electronics, Healthcare, Manufacturing, Retail & Ecommerce, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027

The global contract lifecycle management software market is anticipated to grow at a CAGR of around 10.2% during the forecast period 2020 to 2027 and to reach around US$ 3.0 Bn by 2027.

Market Dynamics

Increasing number of merger and acquisition activities across the globe in order to enhance the product portfolio and enhance the business presence overseas is resulting in demand for contract lifecycle management software in order to eliminate or mitigate risks related to legality, financing, and procurement is expected to impact the growth of contract lifecycle management market.

Players are focused on collaborative work and introduction of innovative products is another factor expected to further support the growth of target market.

• In 2018, DocuSign in collaboration with SpringCM developed and introduced DocuSign Gen in the market a new contract management solution. This helps the users to automate, simplify, and streamline the generation of agreements, such as sales contracts, quotes, etc. this is expected to help the company to enhance the customer base and increase the profit ratio.

In addition, major players approach towards increasing the business presence and enhance the product portfolio through merger and acquisition is important factor expected to augment the growth of target market.

• In 2019, Coupa acquired Exari one of the leading contract management players in the market. This acquisition is expected to help the company to increase the product portfolio and increase the revenues share.
• In 2018, DocuSign acquired SpringCM, one of the leading CLM, cloud-based document generation software providers. This acquisition will help the company to enhance the customer base and increase the profit share.

However, factors such as lack of skilled professional and high threat of cyber attack are expected to further hamper the growth of global contract lifecycle management software market. In addition, high cost of software for small and mid-size enterprises is another factor expected to challenge the growth of target market.

High investment by major players and approach towards development of new products with AI and advanced analytics are other major factors responsible to create new opportunities for players operating in the target market over the forecast period.

Contract Lifecycle Management Software Market Segment Analysis, 2019

The global contract lifecycle management software market is segmented in to offering, enterprise size, deployment mode, and end use. The end use segment is further bifurcated in to automotive, BFSI, electrical and electronics, healthcare, manufacturing, retail & ecommerce, and others. Among deployment mode, the cloud is expected to witness faster growth over the forecast period due to high penetration of high speed internet and high adoption of cloud services from mid-size enterprises. The offerings segment of the global market is divided in to licensing and subscription and services.

Segment Analysis by Region

The market in North America is expected to account for significant revenue share owing to high demand for CLM software from healthcare and BFSI sector. In addition, presence of major players operating in the country along with introduction of cloud based services is another factors expected to positively impact the growth of regional market.  

Asia Pacific is expected to witness faster growth in the near future owing to major player’s inclination towards emerging economies in order to track the untapped market. In addition, flourishing electronics sector, emergence of mid-size enterprises is resulting in demand for CLM software in order to increase the business transparency.

Competitive Landscape

The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

Report coverage

The market research study on “Contract Lifecycle Management Software Market (Offering: Licensing and Subscription and Services; Deployment Mode: On-premise and Cloud; Enterprise Size: Large Enterprises and Small and Medium Enterprises (SMEs); End Use: Automotive, BFSI, Electrical and Electronics, Healthcare, Manufacturing, Retail & Ecommerce, and Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027”, offers a detailed insights on the global contract lifecycle management software market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global contract lifecycle management software market segment by offering, enterprise size, deployment mode, end use and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global contract lifecycle management software market size and segment markets by offering, enterprise size, deployment mode, end use and geography along with the information on companies operating in the market. The contract lifecycle management software market analysis is provided for major regional market including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. The players profiled in the report Ivalua Inc., Jaggaer, Newgen Software Technologies Limited, Optimus BT, Inc., CLM Matrix, Contract Logix, LLC, Coupa Software Inc., Determine, IBM Corporation, Icertis, and Infor.

Market Segmentation

Market By Offering

• Licensing and Subscription
• Services

Market By Deployment Mode

• On-premise
• Cloud

Market By Enterprise Size

• Large Enterprises
• Small and Medium Enterprises (SMEs)

Market By End Use

• Automotive
• BFSI
• Electrical and Electronics
• Healthcare
• Manufacturing
• Retail & Ecommerce
• Others

Market By Region

North America

• US
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest if Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Meddle East & Africa