Contract management software is a specialized solution aimed at optimizing and streamlining the entire lifecycle of contracts, from creation and negotiation to management, all conducted digitally. This software empowers organizations to efficiently handle contracts, centralize their storage, monitor critical dates and milestones, ensure compliance, and foster collaboration among stakeholders.
The primary components of contract management software include software itself, along with associated services such as consulting, implementation, and support and maintenance. The software encompasses digital programs and applications tailored to assist businesses in effectively managing their contracts, providing functionalities for drafting, storing, tracking, and analyzing contract data. These solutions utilize various technologies, including both on-premises and cloud-based deployment options. Contract management software finds application across a diverse range of verticals, including government, retail and e-commerce, healthcare and life sciences, banking and financial services, transportation and logistics, telecom and IT, manufacturing, and more.
The contract management software market research report is one of a series of new reports from The Business Research Company that provides contract management software market statistics, including contract management software industry global market size, regional shares, competitors with a contract management software market share, detailed contract management software market segments, market trends and opportunities, and any further data you may need to thrive in the contract management software industry. This contract management software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The contract management software market size has grown rapidly in recent years. It will grow from $4.04 billion in 2024 to $4.67 billion in 2025 at a compound annual growth rate (CAGR) of 15.6%. The growth in the historic period can be attributed to automation of manual processes, integration with other systems, enhanced security, mobile accessibility, compliance and risk management.
The contract management software market size is expected to see rapid growth in the next few years. It will grow to $8.24 billion in 2029 at a compound annual growth rate (CAGR) of 15.3%. The growth in the forecast period can be attributed to AI and machine learning, blockchain integration, advanced analytics and predictive insights, focus on sustainability and ESG compliance, voice recognition and natural language processing (NLP). Major trends in the forecast period include enhanced AI and machine learning capabilities, augmented reality (AR) and virtual reality (VR) integration, blockchain-based smart contracts, enhanced collaboration features, focus on cybersecurity and data privacy.
The growing adoption of artificial intelligence (AI) and machine learning (ML) is expected to drive the expansion of the contract management software market. Artificial intelligence (AI) refers to the creation of computer systems that can perform tasks typically requiring human intelligence, while machine learning (ML), a subset of AI, focuses on developing algorithms and statistical models that allow computers to learn from data and make predictions or decisions without explicit programming. The rise in AI and ML adoption is driven by factors such as the increase in data from various sources, declining hardware costs, the availability of cloud computing services, and open-source software. AI and ML algorithms can process vast amounts of contract data to uncover trends, patterns, and insights that may not be easily identified through manual analysis. By extracting and analyzing key information from contracts, organizations can gain valuable insights into contract performance, risks, and opportunities. For example, a report from International Business Machines (IBM) in May 2022 revealed that AI adoption increased by 13% compared to 2021. In 2022, 35% of companies reported using AI in their business, up from 31% in 2021. Larger companies were twice as likely as smaller ones to have implemented AI, with 69% of smaller companies using AI in 2021 compared to larger organizations. As a result, the growing use of AI-powered contract analysis is fueling the growth of the contract management software market.
Key players in the contract management software market are prioritizing the development of AI-powered solutions such as Catalyst for Contracts to gain a competitive advantage. Catalyst for Contracts utilizes AI technologies to automate various contract lifecycle management tasks, including drafting, reviewing, analyzing, and managing contracts. For example, Onit Inc. introduced Catalyst for Contracts in November 2023, leveraging generative AI and large language models (LLMs) to enhance pre- and post-signature contract activities. This software empowers users with dynamic contract interaction, streamlining contract review, compliance confirmation, and issue resolution, thereby enhancing productivity and decision-making for contract teams.
In May 2022, LexisNexis Legal & Professional, a US-based data analytics company, acquired Parley Pro for an undisclosed amount. This acquisition allows LexisNexis to enhance its Enterprise Legal Management (ELM) platform, providing additional benefits to its customers. The ELM platform offers comprehensive capabilities for work, financial, and vendor management. Parley Pro is a US-based provider of cloud-based contract lifecycle management solutions.
Major companies operating in the contract management software market are International Business Machines Corporation, SAP SE, Infosys Limited, DocuSign Inc., GEP Solutions Pvt. Ltd., Coupa Software Inc., Zycus Inc., Information Services Group Inc., Icertis Inc., Model N Inc., Corcentric Inc., JAGGAER Inc., Agiloft Inc., Apptus Corporation, Concord Technologies Inc., SecureDocs Inc., CobbleStone Software LLC, Synertrade SA, Aaveneir LLC, CLM Matrix LLC, Trackado AB, Conga Contracts LLC, Enablesoft Limited, HighQ Solutions Limited
North America was the largest region in the contract management software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the contract management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the contract management software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The contract management software market includes revenues earned by entities by providing services such as contract creation and authoring, automated workflows, contract tracking, and monitoring. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Contract Management Software Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on contract management software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Where is the largest and fastest growing market for contract management software ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The contract management software market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
The forecasts are made after considering the major factors currently impacting the market. These include:
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
Market segmentations break down the market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:1) By Component: Software; Services; Consulting; Implementation; Support And Maintenance
2) By Technology: On-Premises; Cloud
3) By Vertical: Government; Retail And E-commerce; Healthcare And Life Sciences; Banking, Financial Services And Insurance (BFSI); Transportation And Logistics; Telecom And Information Technology (IT); Manufacturing; Other Verticals
Subsegments:
1) By Software: Contract Creation And Authoring Tools; Contract Repository And Storage Solutions; Contract Lifecycle Management (Clm) Platforms; E-Signature Software; Compliance Management Software; Automated Contract Analytics And Reporting Tools; Vendor Management Software; Risk Management Software
2) By Services: Contract Management Services; Compliance And Risk Management Services; Document And Data Migration Services; Contract Auditing Services; Managed Services For Contract Management
3) By Consulting: Contract Strategy And Optimization Consulting; Contract Risk And Compliance Consulting; Business Process Consulting For Contract Management; Change Management Consulting
4) By Implementation: System Implementation And Integration; Custom Contract Solution Development; Platform Configuration Services; Data Migration And System Integration
5) By Support And Maintenance: Technical Support Services; Software Updates And Upgrades; System Monitoring And Maintenance; User Training And Assistance; Bug Fixes And Troubleshooting Services
Companies Mentioned: International Business Machines Corporation; SAP SE; Infosys Limited; DocuSign Inc; GEP Solutions Pvt. Ltd
3. Contract Management Software Market Trends And Strategies
4. Contract Management Software Market - Macro Economic Scenario Including The Impact Of Interest Rates, Inflation, Geopolitics, Covid And Recovery On The Market
5. Global Contract Management Software Growth Analysis And Strategic Analysis Framework
5.1. Global Contract Management Software PESTEL Analysis (Political, Social, Technological, Environmental and Legal Factors, Drivers and Restraints)
5.2. Analysis Of End Use Industries
5.3. Global Contract Management Software Market Growth Rate Analysis
5.4. Global Contract Management Software Historic Market Size and Growth, 2019 - 2024, Value ($ Billion)
5.5. Global Contract Management Software Forecast Market Size and Growth, 2024 - 2029, 2034F, Value ($ Billion)
5.6. Global Contract Management Software Total Addressable Market (TAM)
6.1. Global Contract Management Software Market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Software
Services
Consulting
Implementation
Support And Maintenance
6.2. Global Contract Management Software Market, Segmentation By Technology, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
On-Premises
Cloud
6.3. Global Contract Management Software Market, Segmentation By Vertical, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Government
Retail And E-commerce
Healthcare And Life Sciences
Banking, Financial Services And Insurance (BFSI)
Transportation And Logistics
Telecom And Information Technology (IT)
Manufacturing
Other Verticals
6.4. Global Contract Management Software Market, Sub-Segmentation Of Software, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Contract Creation And Authoring Tools
Contract Repository And Storage Solutions
Contract Lifecycle Management (Clm) Platforms
E-Signature Software
Compliance Management Software
Automated Contract Analytics And Reporting Tools
Vendor Management Software
Risk Management Software
6.5. Global Contract Management Software Market, Sub-Segmentation Of Services, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Contract Management Services
Compliance And Risk Management Services
Document And Data Migration Services
Contract Auditing Services
Managed Services For Contract Management
6.6. Global Contract Management Software Market, Sub-Segmentation Of Consulting, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Contract Strategy And Optimization Consulting
Contract Risk And Compliance Consulting
Business Process Consulting For Contract Management
Change Management Consulting
6.7. Global Contract Management Software Market, Sub-Segmentation Of Implementation, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
System Implementation And Integration
Custom Contract Solution Development
Platform Configuration Services
Data Migration And System Integration
6.8. Global Contract Management Software Market, Sub-Segmentation Of Support And Maintenance, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Technical Support Services
Software Updates And Upgrades
System Monitoring And Maintenance
User Training And Assistance
Bug Fixes And Troubleshooting Services
7. Contract Management Software Market Regional And Country Analysis
7.1. Global Contract Management Software Market, Split By Region, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
7.2. Global Contract Management Software Market, Split By Country, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion