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 collaborations 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:
2 Scope and Methodology
2.1 Objectives of the Study
2.3 Data Sources
2.4 Market Estimation
2.5 Forecasting Methodology
3 Executive Summary
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
7 Market Breakup by CLM Offerings
7.1 Licensing and Subscription
8 Market Breakup by Enterprise Size
8.1 Large Enterprise
8.2 Small and Medium Enterprise
9 Market Breakup by Industry
9.2 Electrical and Electronics
9.4 Retail and E-commerce
10 Market Breakup by Region
10.1 North America
10.3 Asia Pacific
10.4 Middle East and Africa
10.5 Latin America
11 Global Contract Life Cycle Management Software Industry: SWOT Analysis
12 Global Contract Life Cycle Management Software Industry: Value Chain Analysis
13 Global Contract Life Cycle Management Software Industry: Porters Five Forces Analysis
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
15.3.7 Contract Logix
15.3.8 Coupa Software
15.3.10 Easy Software
15.3.11 ESM Solutions
15.3.12 Great Minds Software
15.3.15 Optimus BT
15.3.19 Newgen Software
For more information about this report visit https://www.researchandmarkets.com/research/fm92kq/global_contract?w=5
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