Global Contract Lifecycle Management Software Market Report 2019: Market was Worth US$ 1.1 Billion in 2018 and is Expected to Reach $2.4 Billion by 2024
DUBLIN, Feb. 21, 2019 /PRNewswire/ -- The "Contract Lifecycle Management Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The global contract lifecycle management software market was worth US$ 1.1 Billion in 2018
Contract lifecycle management (CLM) software assists in efficiently managing the complete process of a contract signed between two or more organizations.
It comprises of eight vital steps: contract drafting, negotiation, approval, compliance and administration, repository, compliance optimization, retrieval, and renewal, amendments and disposition. CLM software ensures adherence to regulations, mitigates risks associated with a contract, protects an organization from incurring a penalty for non-compliance and enhances their decision-making process.
Apart from this, it also helps the organization in forming alliances with other firms in order to expand their consumer base. As a result, the demand for CLM software is rising in the public, healthcare, manufacturing and financial service sectors across the globe.
Looking forward, the market value is projected to reach US$ 2.4 Billion by 2024, growing at a CAGR of around 14% during 2019-2024.
Global Contract Lifecycle Management Software Market Drivers:
CLM software helps lawyers in retrieving similar contracts from the library for reference purposes which can be viewed virtually in formats like Microsoft Word, PowerPoint and Excel. This reduces the time to review and enables organizations to identify loopholes in their system.
This software also offers efficiency and transparency in reporting mechanisms and management controls, and allows organizations to ensure compliance with acts implemented by governing authorities. Moreover, 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, provides seamless integration with popular CLM systems, enables dynamic workflow approvals and significantly reduces overall costs.
In addition to this, it helps enterprises minimize infrastructural investments related to contract management. Due to rapid globalization, the requirement for a collaborative approach in handling projects and joint ventures has gained immense significance as it leads to better contract visibility for the concerned parties. On account of this, organizations are initiating large-scale collabrations to cope with constant alterations in their businesses which is expected to create a positive outlook for the CLM market.
Key Questions Answered in This Report:
- How has the global contract lifecycle management software market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global contract lifecycle management software industry?
- What is the breakup of the global contract lifecycle management software market on the basis of deployment model?
- What is the breakup of the global contract lifecycle management software market on the basis of CLM offerings?
- What is the breakup of the global contract lifecycle management software market on the basis of enterprise size?
- What is the breakup of the global contract lifecycle management software market on the basis of industry?
- What are the various stages in the value chain of the global contract lifecycle management software market?
- What are the key driving factors and challenges in the global contract lifecycle management software market?
- What is the structure of the global contract lifecycle management software market and who are the key players?
- What is the degree of competition in the global contract lifecycle management software market?
Key Topics Covered:
1 Preface
2 Scope and Methodology 2.1 Objectives of the Study 2.2 Stakeholders 2.3 Data Sources 2.4 Market Estimation 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction 4.1 Overview 4.2 Properties 4.3 Key Industry Trends
5 Global Contract Life Cycle Management Software Market 5.1 Market Overview 5.2 Market Performance 5.3 Market Breakup by Deployment Model 5.4 Market Breakup by CLM Offerings 5.5 Market Breakup by Enterprise Size 5.6 Market Breakup by Industry 5.7 Market Breakup by Region 5.8 Market Forecast
6 Market Breakup by Deployment Model 6.1 Cloud-Based 6.2 On-Premises
7 Market Breakup by CLM Offerings 7.1 Licensing and Subscription 7.2 Services
8 Market Breakup by Enterprise Size 8.1 Large Enterprise 8.2 Small and Medium Enterprise
9 Market Breakup by Industry 9.1 Automotive 9.2 Electrical and Electronics 9.3 Pharmaceutical 9.4 Retail and E-commerce 9.5 Manufacturing 9.6 BFSI 9.7 Others
10 Market Breakup by Region 10.1 North America 10.2 Europe 10.3 Asia Pacific 10.4 Middle East and Africa 10.5 Latin America
11 Global Contract Life Cycle Management Software Industry: SWOT Analysis 11.1 Overview 11.2 Strengths 11.3 Weaknesses 11.4 Opportunities 11.5 Threats
12 Global Contract Life Cycle Management Software Industry: Value Chain Analysis
13 Global Contract Life Cycle Management Software Industry: Porters Five Forces Analysis 13.1 Overview 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 Life Cycle 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 15.3.3 Icertis 15.3.4 SAP 15.3.5 BravoSolution 15.3.6 Contracked 15.3.7 Contract Logix 15.3.8 Coupa Software 15.3.9 Determine 15.3.10 Easy Software 15.3.11 ESM Solutions 15.3.12 Great Minds Software 15.3.13 Infor 15.3.14 Ivalua 15.3.15 Optimus BT 15.3.16 Oracle 15.3.17 Symfact 15.3.18 SpringCM 15.3.19 Newgen Software 15.3.20 Zycus
For more information about this report visit https://www.researchandmarkets.com/research/fm92kq/global_contract?w=5
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