Contract Management Software Market expected to witness a sustainable growth over 2024

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The Contract Management Software Market to grow from USD 1.5 Billion in 2019 to USD 2.9 Billion by 2024 at a Compound Annual Growth Rate (CAGR) of 13.5% from 2019 to 2024.

#Key Players- Aaveneir (US), Agiloft (US), Apptus (US), CLM Matrix (US), CobbleStone Software (US), Conga (US), Concord (US), ContractWorks (US), ContractsWise (UK), Coupa (US), Determine (US), DocuSign (US), IBM (US), Icertis (US), GEP (US), HighQ (UK), JAGGAER (US), SAP Ariba (US), Synertrade (France), Trackado (Sweden), Zycus (US).

Larger enterprises are required to deal with large quantities of contracts that are produced, saved, and shared with the global enterprises and hence, cannot implement manual contract management. They are in need of a structured contract management software that enables efficient contract management in a short amount of time.

The contract management software helps legal teams work faster, smarter and more efficiently by providing the visibility and insight to better manage risk and ensure compliance across an entire portfolio of contracts. The software stores all the legal contracts in a central repository and standardizes the legal contract templates and the contract negotiation process.

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Table of Contents:

1 Introduction

1.1 Objectives of the Study

1.2 Market Definition

1.3 Inclusions and Exclusions

1.4 Market Scope

1.4.1 Market Segmentation

1.4.2 Regions Covered

1.4.3 Years Considered for the Study

1.5 Currency Considered

1.6 Stakeholders

2 Research Methodology

2.1 Research Data

2.1.1 Secondary Data

2.1.2 Primary Data

2.1.2.1 Breakdown of Primary Profiles

2.1.2.2 Key Industry Insights

2.2 Market Breakup and Data Triangulation

2.3 Market Size Estimation

2.3.1 Top-Down Approach

2.3.2 Bottom-Up Approach

2.4 Market Forecast

2.5 Competitive Leadership Mapping Research Methodology

2.6 Assumptions for the Study

2.7 Limitations of the Study

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in the Global Contract Management Software Market

4.2 Market By Component, 2019 Vs. 2024

4.3 Market By Business Function, 2019

4.4 Market By Service, 2019

4.5 Market By Organization Size

4.6 Market By Deployment Type, 2019

4.7 Market By Vertical, 2017—2024

4.8 Market Investment Scenario (2019–2024)

5 Market Overview and Industry Trends

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.1.1 Increasing Demand for Agile Contract Management to Drive Demand for Contract Management Software

5.2.1.2 Changes in Compliance to Drive the Demand for Contract Management Software

5.2.1.3 Increased Complexity Owing to Diversity in Sales and Licensing Models to Drive Demand for Contract Management Software

5.2.2 Opportunities

5.2.2.1 Increasing Demand for Smart Contracts

5.2.2.2 Automation of Contract Management Process Using AI and Ml Represents Significant Opportunity for the Contract Management Software Vendors

5.2.3 Challenges

5.2.3.1 Lack of Skilled Manpower

5.2.3.2 Increased Threat of Cyberattacks

5.2.4 Use Cases

5.2.5 Impact of Disruptive Technologies

5.2.5.1 Artificial Intelligence

5.2.5.2 Robotic Process Automation

5.2.5.3 Blockchain

5.2.6 Contract Management Lifecycle

5.2.6.1 Stage 1: Contract Request

5.2.6.2 Stage 2: Contract Authoring, Review, and Redlining Contract Negotiation

5.2.6.3 Stage 3: Approval and Lawyer or Legal Review

5.2.6.4 Stage 4: Execution or Agreement Signing

5.2.6.5 Stage 5: Contract Database or Repository Storage

5.2.6.6 Stage 6: Records Management

5.2.6.7 Stage 7: Easy Search and Retrieval

5.2.6.8 Stage 8: User Activity and Reporting

5.2.6.9 Stage 9: Contract Renewal, Amendments, and Disposition

List of Tables:

Table 1 United States Dollar Exchange Rate, 2016–2018

Table 2 Factor Analysis

Table 3 Use Case 1: SAP Ariba

Table 4 Use Case 2: SAP Ariba

Table 5 Use Case 3: Coupa

Table 6 Use Case 4: Icertis

Table 7 Use Case 5: CobbleStone Software

Table 8 Contract Management Software Market Size, By Component, 2017–2024 (USD Million)

Table 9 Software: Market Size By Region, 2017–2024 (USD Million)

Table 10 Services: Market Size By Type, 2017–2024 (USD Million)

Table 11 Services: Market Size By Region, 2017–2024 (USD Million)

Table 12 Consulting Market Size, By Region, 2017–2024 (USD Million)

Table 13 Implementation Market Size, By Region, 2017–2024 (USD Million)

Table 14 Support and Maintenance Market Size, By Region, 2017–2024 (USD Million)

Table 15 Contract Management Software Market Size, By Organization Size, 2017–2024 (USD Million)

Table 16 Large Enterprises: Market Size By Region, 2017–2024 (USD Million)

Table 17 Large Enterprises: Market Size By Business Function, 2017–2024 (USD Million)

Table 18 Small and Medium-Sized Enterprises: Market Size By Region, 2017–2024 (USD Million)

Table 19 Small and Medium-Sized Enterprises: Market Size By Business Function, 2017–2024 (USD Million)

Table 20 Contract Management Software Market Size, By Deployment Type, 2017–2024 (USD Million)

…and More

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