Contract lifecycle management (CLM) entails the systematic management of a contract from inception to execution, performance, compliance, and either renewal or expiration. It relies on software to automate and streamline contract-related tasks, ensuring efficiency, mitigating risks, and upholding regulatory compliance throughout the contract's lifecycle.
The primary components of contract lifecycle management encompass software and services. Software refers to digital tools and platforms tailored for managing contracts from creation to execution, renewal, and termination. Deployment options include on-premise and cloud-based solutions, catering to various industries such as healthcare, life sciences, banking, financial services, insurance (BFSI), government, energy, utilities, information technology (IT), telecommunications, legal and compliance, retail, education, among others.
The contract lifecycle management market research report is one of a series of new reports from The Business Research Company that provides contract lifecycle management market statistics, including the contract lifecycle management industry global market size, regional shares, competitors with the contract lifecycle management market share, detailed contract lifecycle management market segments, market trends, and opportunities, and any further data you may need to thrive in the contract lifecycle management industry. These contract lifecycle management market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The contract lifecycle management market size has grown rapidly in recent years. It will grow from $1.52 billion in 2024 to $1.72 billion in 2025 at a compound annual growth rate (CAGR) of 13.6%. The growth in the historic period can be attributed to increasingly stringent regulations, operational efficiency, the expansion of businesses across borders, and innovations in technology.
The contract lifecycle management market size is expected to see rapid growth in the next few years. It will grow to $2.92 billion in 2029 at a compound annual growth rate (CAGR) of 14.1%. The growth in the forecast period can be attributed to digital transformation, enhanced data analytics, cost, and efficiency pressures, and integration with enterprise systems. Major trends in the forecast period include increasing integration with AI and machine learning, expansion of cloud-based solutions, enhanced data analytics and reporting, and a focus on security and compliance.
The contract lifecycle management market is poised for growth, driven by the increasing prevalence of remote work arrangements. Remote work refers to employees carrying out their job responsibilities from locations outside the traditional office, such as homes or coworking spaces. This trend is on the rise due to technological advancements, evolving attitudes towards work-life balance, and the need for flexibility and efficiency. Contract lifecycle management plays a crucial role in facilitating remote work by offering a centralized platform for efficient contract creation, collaboration, and management, ensuring smooth operations regardless of employees' locations. For example, a survey conducted in May 2022 among workers in England and Scotland revealed a significant shift towards hybrid work patterns, with a growing number of employees preferring to work primarily from home and occasionally from their regular workplace.
Leading companies in the contract lifecycle management market are intensifying their efforts to develop innovative solutions to stay competitive. Contract lifecycle management applications automate and streamline contract processes within organizations. In January 2024, Panoram, a UK-based software company, introduced Panoram Contracts, a fully integrated contract lifecycle management application with Microsoft 365 (M365). This new application operates seamlessly within Microsoft Teams, Outlook, and Word, leveraging familiar Microsoft apps and security features to simplify contract management.
In May 2022, LexisNexis Legal & Professional, a US-based software company, acquired Parley Pro Inc. to enhance its CounselLink platform. By integrating Parley Pro's contract lifecycle management capabilities, LexisNexis aims to provide in-house attorneys with a comprehensive solution to streamline contract workflows, enhance negotiation processes, and leverage predictive analytics for valuable insights. Parley Pro Inc., a US-based software company, specializes in contract lifecycle management solutions and contract automation software.
Major companies operating in the contract lifecycle management market are Koch Industries Inc., International Business Machines Corporation, Oracle Corporation, SAP SE, Wolters Kluwer N.V., Docusign Inc., Coupa Software, Zycus, JAGGAER, Revitas, Icertis Inc., Nintex, PandaDoc, SirionLabs, ContractPodAi, Onit, Concord Software, Agiloft Inc., Gatekeeper, Ironclad, ContractWorks, CobbleStone Software, Symfact, Ultria, Aavenir, Outlaw, SimpliContract
North America was the largest region in the contract lifecycle management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the contract lifecycle management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the contract lifecycle management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The contract lifecycle management market includes revenues earned by entities by providing services such as contract authoring and creation, contract negotiation, and signature renewals and amendments. 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 Lifecycle Management 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 lifecycle management 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 lifecycle management ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The contract lifecycle management 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
2) By Deployment: On-Premise; Cloud-Based
3) By Industry: Healthcare And Life Science; Banking, Financial Services And Insurance (BFSI); Government; Energy And Utilities; Information Technology (IT) And Telecommunication; Legal And Compliance; Retail; Education; Other Industries
Subsegments:
1) By Software: Contract Creation Or Authoring; Contract Repository Or Storage; Contract Workflow Or Approval Management; Contract Analytics And Reporting; E-Signature Solutions; Integration And APIs; Contract Risk Management
2) By Services: Implementation Services; Consulting Services; Training And Support Services; Managed Services
Companies Mentioned: Koch Industries Inc.; International Business Machines Corporation; Oracle Corporation; SAP SE; Wolters Kluwer N.V.
3. Contract Lifecycle Management market Trends And Strategies
4. Contract Lifecycle Management market - Macro Economic Scenario Including The Impact Of Interest Rates, Inflation, Geopolitics, Covid And Recovery On The Market
5. Global Contract Lifecycle Management Growth Analysis And Strategic Analysis Framework
5.1. Global Contract Lifecycle Management PESTEL Analysis (Political, Social, Technological, Environmental and Legal Factors, Drivers and Restraints)
5.2. Analysis Of End Use Industries
5.3. Global Contract Lifecycle Management market Growth Rate Analysis
5.4. Global Contract Lifecycle Management Historic Market Size and Growth, 2019 - 2024, Value ($ Billion)
5.5. Global Contract Lifecycle Management Forecast Market Size and Growth, 2024 - 2029, 2034F, Value ($ Billion)
5.6. Global Contract Lifecycle Management Total Addressable Market (TAM)
6.1. Global Contract Lifecycle Management market, Segmentation By Component, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Software
Services
6.2. Global Contract Lifecycle Management market, Segmentation By Deployment, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
On-Premise
Cloud-Based
6.3. Global Contract Lifecycle Management market, Segmentation By Industry, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Healthcare And Life Science
Banking, Financial Services And Insurance (BFSI)
Government
Energy And Utilities
Information Technology (IT) And Telecommunication
Legal And Compliance
Retail
Education
Other Industries
6.4. Global Contract Lifecycle Management Market, Sub-Segmentation Of Software, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Contract Creation Or Authoring
Contract Repository Or Storage
Contract Workflow Or Approval Management
Contract Analytics And Reporting
E-Signature Solutions
Integration And APIs
Contract Risk Management
6.5. Global Contract Lifecycle Management Market, Sub-Segmentation Of Services, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Implementation Services
Consulting Services
Training And Support Services
Managed Services
7. Contract Lifecycle Management market Regional And Country Analysis
7.1. Global Contract Lifecycle Management market, Split By Region, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
7.2. Global Contract Lifecycle Management market, Split By Country, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion