Contract Lifecycle Management Market Opportunities 2031
The contract lifecycle management market is expected to register a CAGR of 11.9% during 2023–2031. Cloud-based CLM solutions and mobile-friendly CLM platforms are likely to remain key trends in the market.
Contract Lifecycle Management Market Analysis
- The global contract lifecycle management market is expected to register stable growth during the period 2022-2031. Contract lifecycle management software acts as a productivity booster.
- The increase in investment opportunities and the growing popularity of cloud-based contract lifecycle management software are the major growth drivers of the market.
- NLP model adoption is one of the major trends in the market. Advances in technologies such as AI-ML and Integration with CLM are some other key trends.
- The contract lifecycle management market is set to rise rapidly by following these trends and taking into account the growth drivers.
Contract Lifecycle Management Market Overview
- The contract lifecycle management market is a process that manages the contracts of businesses and organizations from origin to destination. The tool's number advantages are more reach and the workflow of the system is an efficient and productive system.
- Investment from the business into the contract lifecycle software, the market is boosting the market. The market is divided into 5 geographic regions, namely North America, Europe, Asia-Pacific, Middle East and Africa, and South America.
- Well-known market players in the contract lifecycle management market are Gatekeeper, Conga, Icertis, Integreon, Inc., Wolters Kluwer, and many more.
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Contract Lifecycle Management Market: Strategic Insights
Contract Lifecycle Management Market
-
CAGR (2023 - 2031)
11.9%
-
Market Size 2023
US$ XX Million
-
Market Size 2031
US$ XX Million
Market Dynamics
GROWTH DRIVERS
- The increasing complexity of business contracts, the need for improved compliance and risk management
FUTURE TRENDS
- Incorporation of NLP Technology
OPPORTUNITIES
- Cloud-based CLM solutions, mobile-friendly CLM platforms
Key Players
- Conga
- Wolters Kluwer N V
- Contract Logix LLC
- Coupa Software Inc
- Gatekeeper
- Icertis
- Integreon Inc
- Newgen Software Technologies Limited
- Oracle
- Agiloft Inc
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Deployment Mode
- On-premises and Cloud
End-User
- BFSI
- Retail and E-commerce
- Healthcare
- Manufacturing
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Contract Lifecycle Management Market: Strategic Insights
-
CAGR (2023 - 2031)11.9% -
Market Size 2023
US$ XX Million -
Market Size 2031
US$ XX Million
Market Dynamics
- The increasing complexity of business contracts, the need for improved compliance and risk management
- Incorporation of NLP Technology
- Cloud-based CLM solutions, mobile-friendly CLM platforms
Key Players
- Conga
- Wolters Kluwer N V
- Contract Logix LLC
- Coupa Software Inc
- Gatekeeper
- Icertis
- Integreon Inc
- Newgen Software Technologies Limited
- Oracle
- Agiloft Inc
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- On-premises and Cloud
- BFSI
- Retail and E-commerce
- Healthcare
- Manufacturing
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Contract Lifecycle Management Market Drivers and Opportunities
Rising Demand for Efficient and Cost-Effective Solutions to Favor the Market
- In the modern approach, contract lifecycle management has been done by running different methodologies which improves efficiency and visibility and reduces the cost. In this automation, the workflow has been done by a task that streamlines the process which will detect.
- In today's world, organizational efficiency and productivity have been increased, and it is trying to be improved by making efficient and cost-effective approaches.
- CLM (Contract lifecycle management) software has been used to create a platform where it will be easy to handle all the contracts and their related information.
Incorporation of NLP Technology
- By connecting the contract lifecycle management software to the NLP tool, the complex and unusual language used in a contract can be simplified and comprehended. NLP allows for faster and more competent review and analysis of the deal of the contract.
- NLP, along with AI, helps to interpret and analyze complex and aberrant language. Integrating the NLP with CLM software signifies a great opportunity for the market.
Contract Lifecycle Management Market Report Segmentation Analysis
Key segments that contributed to the derivation of the contract lifecycle management market analysis are deployment mode and end-user.
- Based on deployment mode, the contract lifecycle management market is divided into on-premises and cloud.
- Based on the end-user, the contract lifecycle management market is divided into BFSI, retail and e-commerce, healthcare, manufacturing, and others.
Contract Lifecycle Management Market Share Analysis by Geography
- Contract Lifecycle Management Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering Contract Lifecycle Management market dynamics, such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers PEST analysis, which involves the study of major factors that influence the Contract Lifecycle Management market in these regions.
Contract Lifecycle Management Market Report Scope
Report Attribute | Details |
---|---|
Market size in 2023 | US$ XX Million |
Market Size by 2031 | US$ XX Million |
Global CAGR (2023 - 2031) | 11.9% |
Historical Data | 2021-2023 |
Forecast period | 2024-2031 |
Segments Covered |
By Deployment Mode
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Contract Lifecycle Management Market News and Recent Developments
The contract lifecycle management market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the contract lifecycle management market are listed below:
- SirionLabs, the global leader in artificial intelligence (AI)-powered contract lifecycle management (CLM), announced the joining of the contract automation platform Zendoc. The expansion deepens Sirion’s leadership and commitment to the applications of AI in enhancing CLM as a category. The Zendoc team’s knowledge and experience in creating intuitive AI-powered solutions to manage contracts is a valuable addition to Sirion’s engineering and product talent. (Source: SirionLabs, Press Release, November 2022)
Contract Lifecycle Management Market Report Coverage and Deliverables
The “Contract Lifecycle Management Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Contract lifecycle management market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Contract lifecycle management market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Contract lifecycle management market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the contract lifecycle management market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The report can be delivered in PDF/PPT format; we can also share an Excel dataset based on the request.
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The leading players operating in the contract lifecycle management market are Conga, Wolters Kluwer N.V., Contract Logix, LLC, Coupa Software Inc., Gatekeeper, Icertis, Integreon, Inc., Newgen Software Technologies Limited, Oracle, and Agiloft, Inc.
Cloud-based CLM solutions and mobile-friendly CLM platforms are likely to remain key trends in the market.
The global Contract Lifecycle Management market is expected to grow at a CAGR of 11.9% during the forecast period 2023 - 2031.
The increasing complexity of business contracts and the need for improved compliance and risk management are expected to drive the contract lifecycle management market.
The List of Companies
1. Conga
2. Wolters Kluwer N.V.
3. Contract Logix, LLC
4. Coupa Software Inc.
5. Gatekeeper
6. Icertis
7. Integreon, Inc.
8. Newgen Software Technologies Limited
9. Oracle
10. Zycus Inc.