Contract Lifecycle Management Market is expected to witness significant growth to 2025

1
Contract Lifecycle Management Market is poised to
grow substantially till 2025 Global Market
Insights, Inc.
Fuel Cell Market size worth 25.5bn by 2024
2
Regional Analysis of Contract Lifecycle
Management Market Market

• North America held a major share in 2018 and is
  expected to hold a dominant market share in the
  CLM market. The market growth is attributed to
  the presence of prominent market players in the
  region. Additionally, major players of various
  sectors are present in the region and are rapidly
  deploying contract lifecycle management,
  maximizing their profit margins during strategic
  alliances.
• The Asia Pacific contract lifecycle management
  market is expected to grow significantly due to
  the evolving business operation methods and
  increasing software spending among enterprises
  present in the region. The prominent enterprises
  and new entrants in various sectors are rapidly
  adopting contract lifecycle management, reducing
  manual methods, and improving operational
  efficiency of businesses.

3
Application Analysis of Contract Lifecycle
Management Market Market

• The cloud-based deployment of CLM software is
  estimated to grow at a significant CAGR over the
  forecast timeline. The market growth is
  attributed to the growing demand for CLM
  solutions among enterprises across various
  sectors to enable dynamic workflow approvals,
  reduce the time to review task activity, and
  reduce overall costs for enterprises.
• The enterprises deploying robust, extensive, or
  basic CLM to enhance the benefits, savings, and
  the resulting good governance are anticipated to
  be sustainable due to the discipline offered by
  contract lifecycle management applications
  Long-term implementation of contract lifecycle
  management software in enterprises across various
  sectors will result in incremental savings for
  the enterprise.
• The growing need to increase transparency and
  improve efficiency in management controls and
  reporting mechanisms that help enterprises to
  ensure compliance with acts implemented by
  governing authorities will propel the adoption of
  CLM software among enterprises. Additionally, it
  helps organizations minimize their
  infrastructural investments related to contract
  management. The solution helps the enterprise to
  review and monitor several contracts with ease,
  enhancing operational efficiency of the
  enterprise.

4
Competitive Market Share of Contract Lifecycle
Management Market Market
The contract lifecycle management market players
are focusing on strategic acquisitions, mergers,
and collaborations to further enhance the
capabilities of their software and expand the
customer base. For instance, in May 2019, Coupa
Software acquired Exari that provides contract
lifecycle management (CLM). This acquisition
extends the Coupa Contract Management solution
with advanced CLM capabilities, including the
functionality for collaboration, contract
creation, and discovery, enabling the companies
to comprehensively manage the entire contract
lifecycle and optimize client transactions. The
prominent contract lifecycle management market
players are CLM Matrix, Contract Logix, LLC,
Coupa Software Inc., Determine (Corcentric, LLC),
IBM Corporation, Icertis, Infor, Ivalua Inc.,
Jaggaer, Newgen Software Technologies Limited,
Optimus BT, Inc., Oracle Corporation, SAP SE,
SpringCM, Symfact, and Zycus Inc.
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Segments
Contract Lifecycle Management Market, By CLM
Offerings, 2014-2025 (USD Million) Licensing
and Subscription Services Contract Lifecycle
Management (CLM) Market, By Enterprise Size,
2014-2025 (USD Million) Large
Enterprises Small and Medium Enterprises
(SMEs) CLM Market, By Deployment Model, 2014-2025
(USD Million) On-premise Cloud By End-Use,
2014-2025 (USD Million) Automotive BFSI Elec
trical and Electronics Healthcare Manufacturin
g Retail Ecommerce Others
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