DUBLIN, May 31, 2022 /PRNewswire/ — The “Contract Lifecycle Management Software Market: Global Industry Trends, Share, Size, Growth, Opportunities and Forecast 2022-2027” report has been added to from ResearchAndMarkets.com offer.
Global contract lifecycle management (CLM) software market size reached US$1.70 billion in 2021. Looking ahead, the publisher expects the market to reach US$3.30 billion by 2027, presenting a CAGR by 11.4% over the period 2022-2027. Keeping in mind the uncertainties of COVID-19, they continuously monitor and assess the direct and indirect influence of the pandemic on the various end-use industries. This information is included in the report as a major market contributor
Contract Lifecycle Management (CLM) software helps to efficiently manage the entire process of a signed contract between two or more organizations. It includes eight essential steps:
Contract Drafting, Negotiation, Approval, Compliance and Administration, Repository, Compliance Optimization, Recovery and Renewal, Amendments and Disposition. CLM software ensures regulatory compliance, mitigates contract risk, protects an organization from a penalty for non-compliance, and improves its decision-making process. Apart from this, it also helps the organization form alliances with other businesses to expand their consumer base. As a result, the demand for CLM software is increasing in public, healthcare, manufacturing, and financial services sectors across the globe.
Global Contract Lifecycle Management Software Market Drivers:
CLM software helps lawyers retrieve similar contracts from the library for reference purposes which can be viewed virtually in formats such as Microsoft Word, PowerPoint and Excel. This reduces review time and allows organizations to identify flaws in their system.
This software also offers efficiency and transparency in reporting mechanisms and management controls, and allows organizations to ensure compliance with the acts put in place by the governing authorities. Additionally, the emergence of cloud-based CLM software is driving the demand for this solution across various industries, as it offers an easy-to-use interface, offers seamless integration with popular CLM systems, enables workflow approvals dynamic work and significantly reduces overall costs.
In addition to this, it helps companies to minimize infrastructure investments related to contract management. Due to rapid globalization, the requirement for a collaborative approach in the management of projects and joint ventures has taken on considerable importance as it leads to better contract visibility for the parties involved. For this reason, organizations are initiating large-scale collaborations to keep up with the constant changes in their business, which is expected to create a positive outlook for the CLM market.
The competitive landscape of the market has also been reviewed with some of the major players such as CLM Matrix, IBM Emptoris, Icertis, SAP, BravoSolution, Contracked, Contract Logix, Coupa Software, Determine, Easy Software, ESM Solutions, Great Minds Software, Infor, Ivalua, Optimus BT, Oracle, Symfact, SpringCM, Newgen Software and Zycus
Answer to the key question in this report
1. What is the size of the global contract lifecycle management software market in 2021?
2. What is the expected growth rate of the global contract lifecycle management software market during the period 2022-2027?
3. What are the key factors driving the global contract lifecycle management software market?
4. What has been the impact of COVID-19 on the Global Contract Lifecycle Management Software Market?
5. What is the Global Contract Lifecycle Management Software Market Breakdown Based on Deployment Model?
6. What is the global contract lifecycle management software market split based on offerings?
7. What is the global contract lifecycle management software market split by company size?
8. What is the global contract lifecycle management software market breakdown based on industry?
9. What are the key regions of the global contract lifecycle management software market?
10. Who are the Key Players/Companies in the Global Contract Lifecycle Management Software Market?
Main topics covered:
2 Scope and methodology
3 Executive Summary
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 Breakdown by Deployment Model
5.5 Breakdown of the market by CLM offers
5.6 Market Breakdown by Company Size
5.7 Market Breakdown by Industry
5.8 Market Breakdown by Region
5.9 Market Forecast
6 Market Breakdown by Deployment Model
6.1.1 Market trends
6.1.2 Market Forecast
6.2.1 Market trends
6.2.2 Market Forecast
7 Breakdown of the market by CLM offers
7.1 License and Subscription
7.1.1 Market trends
7.1.2 Market Forecast
7.2.1 Market trends
7.2.2 Market Forecast
8 Market Breakdown by Company Size
8.1 Large company
8.1.1 Market trends
8.1.2 Market Forecast
8.2 Small and medium enterprises
8.2.1 Market trends
8.2.2 Market Forecast
9 Market Breakdown by Industry
9.1.1 Market trends
9.1.2 Market Forecast
9.2 Electricity and electronics
9.2.1 Market trends
9.2.2 Market Forecast
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
9.5.1 Market trends
9.5.2 Market Forecast
9.6.1 Market trends
9.6.2 Market Forecast
9.7.1 Market trends
9.7.2 Market Forecast
10 Market Breakdown by Region
11 Global Contract Lifecycle Management Software Industry: SWOT Analysis
12 Global Contract Lifecycle Management Software Industry: Value Chain Analysis
13 Global Contract Lifecycle Management Software Industry: Porters Five Forces Analysis
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 CLM matrix
15.3.2 IBM Emptoris
15.3.5 Bravo Solution
15.3.7 Logix Contract
15.3.8 Coupa Software
15.3.10 Easy software
15.3.11 ESM Solutions
15.3.12 Great Minds Software
15.3.19 Next generation software
For more information on this report, visit https://www.researchandmarkets.com/r/bjg4dj
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