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Report Overview
The global contract lifecycle management software market size attained a value of USD 2.40 Billion in 2024. The market is expected to grow at a CAGR of 17.00% between 2025 and 2034 to reach almost USD 11.54 Billion by 2034.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
-
CLM software boosts efficiency by automating and streamlining contract processes across initiation, drafting, workflow management, negotiation, approval, execution, oversight, compliance, and renewal stages.
-
CLM software is widely used in BFSI sector. India's vast network of 160,000+ bank branches drive global contract lifecycle management software market growth.
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The presence of 3,09,83,113 enterprises in Europe as reported by Eurostat in 2021 is fuelling the global contract lifecycle management software market.
Compound Annual Growth Rate
Value in USD Billion
17%
2025-2034
Contract Lifecycle Management Software Market Outlook
*this image is indicative*
As per the contract lifecycle management (CLM) software market report, CLM software enhances efficiency by automating and simplifying contract processes across essential stages such as initiation, drafting, workflow management, negotiation, approval, execution, ongoing oversight, compliance within the repository, and contract renewal. Buyers and suppliers benefit from time savings and error reduction by establishing a shared language, utilising core templates, unified terms, and consistent conditions.
The primary goal of most contract management software is to offer improved visibility into corporate spending, enhance efficiency throughout the contract lifecycle, and reduce administrative expenses. For example, contract lifecycle management software is extensively utilised within the BFSI sector. In India, there are over 160,000 bank branches, roughly equating to about 15 branches per 100,000 people, as reported by the National Investment Promotion and Facilitation Agency, thus, boosting the global contract lifecycle management software market growth.
BANKING INDUSTRY IN INDIA, IN 2022
Key Trends and Developments
The global contract lifecycle management software market is expanded by increasing use in healthcare sector, regulatory agreements, and contract task optimisation.
Increasing use in healthcare services
Healthcare contract lifecycle management software aids healthcare institutions in managing regulatory responsibilities, spanning from contract creation to execution and beyond. It provides valuable analytics, empowering healthcare professionals to make informed decisions, and fosters collaboration among diverse departments and stakeholders.
Regulatory agreements
CLM software supports organisations in regulatory compliance with automated checks, version control, and audit trails. It guarantees contracts align with legal standards and adapt to regulatory updates, preventing penalties and promoting ethical conduct. Moreover, it simplifies compliance reporting through document generation and report creation.
Contract task optimisation
CLM software improves effectiveness by streamlining contract procedures, automating workflows, and minimising manual involvement. This leads to significant cost savings by reducing administrative costs, minimising errors, and expediting contract timelines. Additionally, it identifies opportunities for cost savings, such as renegotiating supplier terms or optimising pricing structures.
Public sector services
CLM enables contracting officers to attain operational excellence in federal procurement by automating the complete contracting process. This encompasses activities such as acquisition planning, requisition generation, solicitation, offer submission, contract awarding, administration, and closure.
Contract Lifecycle Management Software Industry Trends
As per the contract lifecycle management software market study, the significant return on investment (ROI) linked with implementing CLM software presents an attractive option for organisations aiming for efficient contract management. Furthermore, the growing focus on streamlining contract tasks with CLM software enables organisations to enhance productivity and refine their contract processes for increased competitiveness, thereby fuelling the contract lifecycle management software market expansion.
CLM software seamlessly incorporates legal and business requirements into contracts, mitigating the risk of misunderstandings and disputes. Additionally, it enhances transparency and accountability, serving as an asset for companies grappling with intricate modern contracts.
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If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Market Segmentation
Global Contract Lifecycle Management Software Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Deployment Model:
- Cloud-Based
- On-Premises
Market Breakup by CLM Offering:
- Licensing and Subscription
- Services
Market Breakup by Enterprise Size:
- Large Enterprise
- Small and Medium Enterprise
Market Breakup by Industry:
- Automotive
- Electrical and Electronics
- Pharmaceutical
- Retail and E-commerce
- Manufacturing
- BFSI
- Others
Market Breakup by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Based on deployment, the cloud-based model is boosting the contract lifecycle management software market growth due to its cost-effectiveness
Cloud-based contract lifecycle management offers improved access and insights into contract data while strengthening security and centralisation. It allows for remote access and real-time data capture without limitations.
On-premises computing provides complete infrastructure control, enabling customisation to fulfil industry requirements for optimal performance and flexible configurations.
According to CLM offering, the global contract lifecycle management software market share is lead by licensing and subscription models
Licensing and subscription entail legal permissions for software or service usage, typically stipulated in contracts, with regular payments for access. It ensures efficient management of such agreements, fostering transparency and accountability.
CLM services comprise professional offerings aiding implementation, customisation, and maintenance, including consulting, training, and integration services.
Large enterprises hold a dominant position in the market due to their extensive operations and significant workforce size
Large enterprises require sophisticated CLM solutions to manage numerous contracts, complex agreements, and compliance requirements. They prioritise scalability, integration with ERP and CRM systems, and customisation.
Conversely, small and medium enterprises, with limited resources, favour cloud-based CLM for affordability and efficiency, seeking user-friendly solutions to streamline contract processes and reduce manual work.
The manufacturing sector holds a prominent position in the global contract lifecycle management software market, primarily because of its intricate supply chain and procurement requirements
In manufacturing, CLM solutions are crucial for supplier contract management, compliance, and procurement optimisation.
Automotive firms utilise CLM software for supply chain contract management with suppliers, distributors, and dealerships. Likewise, in electrical and electronics, CLM aids in managing supplier contracts for components and raw materials, ensuring product specifications and supply chain adherence.
Pharmaceutical companies rely on CLM software to comply with stringent regulations in research, development, and supplier contracts while protecting data privacy. Retailers and e-commerce businesses use CLM for vendor contracts, performance tracking, and pricing compliance. In BFSI, CLM manages contracts with individuals, partners, and regulators, reducing risks and ensuring compliance.
Competitive Landscape
The competitiveness within the global contract lifecycle management software market arises from the manufacturing and automotive sector, software and services, and economic growth.
SAP SE
SAP SE was founded in 1972 and is based in Germany. SAP Modules constitute business management software designed for collecting, storing, managing, and interpreting data across various functional domains, including financial accounting, human resources, and customer relationship management.
DocuSign, Inc.
DocuSign, Inc. was founded in 2003 and is based in the United States. DocuSign eSignature serves as electronic document signing software enabling swift and secure online approval collection, ensuring legal validity. It replaces time-consuming manual signing procedures, enhancing agreement efficiency and productivity to the fullest.
Coupa Software Inc.
Coupa Software Inc. was founded in 2006 and is based in the United States. Coupa provides an e-invoicing module to improve user experience, enabling companies to electronically receive and process invoices. This diminishes reliance on paper-based methods and manual data input. Additionally, the BSM provider offers a payments hub solution.
Agiloft Inc.
Agiloft Inc. was founded in 1990 and is based in the United States. Agiloft specialises in creating contract lifecycle management (CLM) software, with a focus on delivering efficient solutions for purchasing, legal operations, and sales cycles. They aim to substantially reduce compliance risk through this offering.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other global contract lifecycle management software market key players are Concord Worldwide Inc., Deltek Inc., Conga, Ironclad, Inc., Icertis, Oracle Corporation, Contracts 365, Inc., Newgen Software Technologies, and others.
Global Contract Lifecycle Management Software Market Analysis by Region
North America leads the market with a significant share due to its large enterprises needing advanced CLM solutions for complex contracts.
Europe sustains a robust market presence, driven by rising demand for CLM solutions to streamline complex contracts, ensure regulatory compliance, and improve operational efficiency. Increasing enterprises in the EU is boosting the product demand.
ENTERPRISE STATISTICS BY SIZE CLASS IN THE EUROPEAN UNION IN 2021
| Enterprises Number | Persons Employed | Net turnover- million euros |
| 3,09,83,113 | 15,61,24,230 | 3,23,48,400 |
Asia Pacific is prominent with numerous CLM software providers, including established companies and startups. Further, the Middle East and Africa is witnessing growth driven by interest in cloud-based CLM solutions. Latin America's established business sectors contribute to its promising growth in the CLM software market.
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Contract Lifecycle Management Software Market Report Snapshots
Contract Lifecycle Management Software Market Size
Contract Lifecycle Management Software Market Trends
Contract Lifecycle Management Software Companies
Contract Lifecycle Management Software Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The contract lifecycle management software market attained a value of USD 2.40 Billion in 2024.
The market is projected to grow at a CAGR of 17.00% between 2025 and 2034.
The revenue generated in the market is expected to reach USD 11.54 Billion in 2034.
The Contract Lifecycle Management (CLM) market benefits from improvements in healthcare, government services, regulatory partnerships, and optimizing tasks related to contracts.
Based on the deployment model, the market is bifurcated into cloud-based and on-premises.
Key players in the industry are Concord Worldwide Inc, Deltek Inc., SAP SE, Conga, Ironclad, Inc., Icertis, DocuSign, Inc., Oracle Corporation, Contracts 365, Inc., Coupa Software Inc., Agiloft Inc., Newgen Software Technologies, and others.
The major market areas include North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The different types of offerings in the CLM market include licensing and subscriptions and services.
The different enterprises in the market are small and medium-sized enterprises and large enterprises.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Deployment Model |
|
| Breakup by CLM Offerings |
|
| Breakup by Enterprise Size |
|
| Breakup by Industry |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
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