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Contract Management Software Market by Component (Software and Services), Business Function (Legal, Sales, Procurement, and Finance), Deployment Type (On-premises and Cloud), Organization Size, Vertical, and Region - Global Forecast to 2024

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Date: 18-Oct-2019
No. of pages: 131
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Changes in compliance to drive the demand for contract management software

MarketsandMarkets projects 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. Major factors expected to drive the growth of the contract management software market include rising demand for an agile contract management software, increasing changes in compliances, and increased complexity owing to diversity in sales and licensing models.

By organization size, large enterprises segment to account for a higher market share during the forecast period

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. Organizations that have multiple offices and divisions also benefit from a centralized, contract management software as the software tend to identify the discrepancies and redundancies in each of these offices and divisions. The emergence of cloud-based contract management software allows for instant contract updates and accessibility across entire global organizations.

By business function, legal segment to hold a larger market size during the forecast period

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. It automates and centralizes the organization's legal contracts, agreements, and any legal processes.

According to the survey conducted by Legal Suite, the French contract management association (AFCM) and European School of Contract Management (e²cm), 80% of international deals involve the negotiation and signing of contracts of any nature. This depicts the need for a robust contract management software that provides the Contract Manager with automated tools to fully optimize the processes related to the contract life cycle.

Among regions, Asia Pacific to grow at the highest CAGR during the forecast period

Asia Pacific is home to many developing economies; and many countries in the Asia Pacific are adopting new technologies in the legal procedures to increase the efficiency of the Legal system. Asia Pacific is expected to be the fastest-growing in the world owing to growing business activities in the developing countries. Some of the key factors that are driving the adoption of digital technologies for legal procedure include the mandatory compliance with data protection laws of foreign countries and the rising international litigations. Some of the countries in this region also use AI technology in the legal sector, for instance, Major countries of APAC, such as China, Japan, and Singapore are using the AI technology in the legal sector. According to Digital Trends report 2018, AI is one technology area where APAC could be the leading region globally within the next decade. Moreover, APAC holds 60% of the world’s population and, therefore, any major technological shifts like those being heralded by AI are likely to shape the future of the region.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the Contract management software market.

The breakup of the profiles of the primary participants is given below:


  • By Company Type: Tier 1 – 15%, Tier 2 – 40%, and Tier 3 – 45%

  • By Designation: C-Level – 40%, Director Level – 35%, Managers–15% and Others -10%

  • By Region: North America – 45%, Europe – 30%, APAC– 15%, and RoW – 10%


The following key Contract management software vendors are profiled in the report:


  • 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)


Research Coverage

The Contract management software market is segmented by component (software and services), business functions, organization sizes, deployment types, vertical, and region. A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews; services; key strategies; new service and product launches; partnerships, agreements, and collaborations; business expansions; and competitive landscape associated with the Contract management software market.

Reasons to Buy the Report

The report would help the market leaders and new entrants in the following ways:


  • It comprehensively segments the contract management software market and provides the closest approximations of the revenue numbers for the overall market and its sub segments across different regions.

  • It would help stakeholders understand the pulse of the market and provide information on the key market drivers, challenges, and opportunities in the market.

  • It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes competitor ecosystem, new service developments, partnerships, and acquisitions.

Contract Management Software Market by Component (Software and Services), Business Function (Legal, Sales, Procurement, and Finance), Deployment Type (On-premises and Cloud), Organization Size, Vertical, and Region - Global Forecast to 2024

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

6 Contract Management Software Market By Component
6.1 Introduction
6.2 Software
6.2.1 Contract Management Software Ensures Compliance Adherence and Significantly Reduces Contract Related Expenses
6.3 Services
6.3.1 Consulting
6.3.1.1 Need for Technical Expertise, Especially in Latin America and MEA Regions, Driving the Demand for Consulting Services
6.3.2 Implementation
6.3.2.1 Implementation Services to Offer Significant Revenue Growth Opportunities in Asia Pacific
6.3.3 Support and Maintenance
6.3.3.1 Customer Service Assurance to Fuel the Demand for Support and Maintenance Services

7 Contract Management Software Market By Organization Size
7.1 Introduction
7.2 Large Enterprises
7.2.1 High Volumes of Contracts to Boost the Demand for Contract Management Software for Large Enterprises
7.3 Small and Medium-Sized Enterprises
7.3.1 Cost-Effectiveness of Cloud-Based Contract Management Software to Drive the Demand Among Small and Medium-Sized Enterprises

8 Contract Management Software Market By Deployment Type
8.1 Introduction
8.2 On-Premises
8.2.1 Security Concerns to Drive the Demand for On-Premises Contract Management Software
8.3 Cloud
8.3.1 Small and Medium-Sized Enterprises Driving the Demand for Cloud-Based Contract Management Software

9 Contract Management Software Market By Business Function
9.1 Introduction
9.2 Legal
9.2.1 Automated Contract Management Tools Allowing the Optimization of the Legal Processes Related to Contract Life Cycle
9.3 Sales
9.3.1 CRM Integration Enabling the Sales Team to Manage Contracts More Efficiently
9.4 Procurement
9.4.1 Improved Compliance Driving the Demand for Contract Management Software
9.5 Others

10 Contract Management Software Market By Region
10.1 Introduction
10.2 North America
10.2.1 United States
10.2.1.1 Highly Developed BFSI, Telecom, and Healthcare Sectors in the Country to Drive the Market in the US
10.2.2 Canada
10.2.2.1 Highly Developed Retail, Healthcare, and Manufacturing Industry, and Government Initiatives to Boost AI to Drive the Growth of the Market in Canada
10.3 Europe
10.3.1 United Kingdom
10.3.1.1 Increasing Demand for Digital Transformation to Boost the Contract Management Software Market in the UK
10.3.2 Germany
10.3.2.1 Adoption of Favorable AI Strategy By German Government to Boost the Market
10.3.3 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.1.1 High Adoption of AI and Automation Technologies in the Legal System in China to Drive the Market
10.4.2 Japan
10.4.2.1 Highly Developed IT Infrastructure to Driving the Market in Japan
10.4.3 Rest of Asia Pacific
10.5 Rest of the World
10.5.1 Middle East
10.5.1.1 Increasing AI Adoption and Rise in Contract Management Startups to Drive Market in the Middle East
10.5.2 Latin America
10.5.2.1 Lack of Economic Stability and IT Infrastructure Represents Challenge for the Contract Management Solution Providers in Latin America

11 Competitive Landscape
11.1 Competitive Leadership Mapping
11.1.1 Visionary Leaders
11.1.2 Innovators
11.1.3 Dynamic Differentiators
11.1.4 Emerging Companies
11.2 Market Ranking Analysis, 2019

12 Company Profiles
(Business Overview, Products Offered, Recent Developments, MnM View)*
12.1 Introduction
12.2 SAP Ariba
12.3 Coupa
12.4 DocuSign
12.5 Icertis
12.6 Apttus
12.7 Zycus
12.8 GEP
12.9 Agiloft
12.10 CobbleStone Software
12.11 CLM Matrix
12.12 Conga
12.13 Concord
12.14 Determine
12.15 JAGGAER
12.16 IBM
12.17 ContractsWise
12.18 ContractWorks
12.19 Synertrade
12.20 Aavenir
12.21 Trackado
12.22 HighQ

*Business Overview, Products Offered, Recent Developments, MnM View Might Not be Captured in Case of Unlisted Companies.

13 Appendix
13.1 Discussion Guide
13.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
13.3 Available Customization
13.4 Related Reports
13.5 Author Details

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)
Table 21 On-Premises: Market Size By Region, 2017–2024 (USD Million)
Table 22 On-Premises: Market Size By Vertical, 2017–2024 (USD Million)
Table 23 Cloud: Market By Region, 2017–2024 (USD Million)
Table 24 Cloud: Market By Vertical, 2017–2024 (USD Million)
Table 25 Contract Management Software Market Size, By Business Function, 2017–2024 (USD Million)
Table 26 Legal: Market Size By Region, 2017–2024 (USD Million)
Table 27 Sales: Market Size By Region, 2017–2024 (USD Million)
Table 28 Procurement: Market Size By Region, 2017–2024 (USD Million)
Table 29 Others: Market Siz, By Region, 2017–2024 (USD Million)
Table 30 Market Size By Region, 2017–2024 (USD Million)
Table 31 North America: Contract Management Software Market Size, By Component, 2017–2024 (USD Million)
Table 32 North America: Market Size By Service, 2017–2024 (USD Million)
Table 33 North America: Market Size By Deployment Type, 2017–2024 (USD Million)
Table 34 North America: Market Size By Organization Size, 2017–2024 (USD Million)
Table 35 North America: Market Size By Business Function, 2017–2024 (USD Million)
Table 36 North America: Legal Market Size, By Organization Size, 2017–2024 (USD Million)
Table 37 North America: Sales Market Size, By Organization Size, 2017–2024 (USD Million)
Table 38 North America: Procurement Market Size, By Organization Size, 2017–2024 (USD Million)
Table 39 North America: Others Market Size, By Organization Size, 2017–2024 (USD Million)
Table 40 North America: Contract Management Software Market Size, By Vertical, 2017–2024 (USD Million)
Table 41 North America: Government Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 42 North America: Retail and Ecommerce Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 43 North America: Healthcare and Life Sciences Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 44 North America: Banking, Financial Services, and Insurance Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 45 North America: Transportation and Logistics Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 46 North America: Manufacturing Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 47 North America: Telecom and IT Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 48 North America: Others Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 49 North America: Contract Management Software Market Size By Country, 2017–2024 (USD Million)
Table 50 Europe: Contract Management Software Market Size By Component, 2017–2024 (USD Million)
Table 51 Europe: Market Size By Service, 2017–2024 (USD Million)
Table 52 Europe: Market Size By Deployment Type, 2017–2024 (USD Million)
Table 53 Europe: Market Size By Organization Size, 2017–2024 (USD Million)
Table 54 Europe: Contract Management Software Market Size, By Business Function, 2017–2024 (USD Million)
Table 55 Europe: Legal Market Size, By Organization Size, 2017–2024 (USD Million)
Table 56 Europe: Sales Market Size, By Organization Size, 2017–2024 (USD Million)
Table 57 Europe: Procurement Market Size, By Organization Size, 2017–2024 (USD Million)
Table 58 Europe: Others Market Size, By Organization Size, 2017–2024 (USD Million)
Table 59 Europe: Contract Management Software Market Size, By Vertical, 2017–2024 (USD Million)
Table 60 Europe: Government Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 61 Europe: Retail Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 62 Europe: Healthcare and Life Sciences Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 63 Europe: Banking, Financial Services, and Insurance Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 64 Europe: Transportation and Logistics Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 65 Europe: Manufacturing Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 66 Europe: Telecom and IT Vertical Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 67 Europe: Other Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 68 Europe: Contract Management Software Market Size, By Country, 2017–2024 (USD Million)
Table 69 Asia Pacific: Contract Management Software Market Size, By Component, 2017–2024 (USD Million)
Table 70 Asia Pacific: Market Size By Service, 2017–2024 (USD Million)
Table 71 Asia Pacific: Market Size By Deployment Type, 2017–2024 (USD Million)
Table 72 Asia Pacific: Market Size By Organization Size, 2017–2024 (USD Million)
Table 73 Asia Pacific: Market Size By Business Function, 2017–2024 (USD Million)
Table 74 Asia Pacific: Legal Business Function Market Size, By Organization Size, 2017–2024 (USD Million)
Table 75 Asia Pacific: Sales Business Function Market Size, By Organization Size, 2017–2024 (USD Million)
Table 76 Asia Pacific: Procurement Business Function Market Size, By Organization Size, 2017–2024 (USD Million)
Table 77 Asia Pacific: Other Business Functions Market Size, By Organization Size, 2017–2024 (USD Million)
Table 78 Asia Pacific: Contract Management Software Market Size, By Vertical, 2017–2024 (USD Million)
Table 79 Asia Pacific: Government Vertical Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 80 Asia Pacific: Retail Vertical Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 81 Asia Pacific: Healthcare and Life Sciences Vertical Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 82 Asia Pacific: Banking, Financial Services, and Insurance Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 83 Asia Pacific: Transportation and Logistics Vertical Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 84 Asia Pacific: Manufacturing Vertical Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 85 Asia Pacific: Telecom and IT Vertical Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 86 Asia Pacific: Other Verticals Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 87 Asia Pacific: Contract Management Software Market Size, By Country, 2017–2024 (USD Million)
Table 88 Rest of the World: Contract Management Software Market Size, By Component, 2017–2024 (USD Million)
Table 89 Rest of the World: Market Size By Service, 2017–2024 (USD Million)
Table 90 Rest of the World: Market Size By Deployment Type, 2017–2024 (USD Million)
Table 91 Rest of the World: Market Size By Organization Size, 2017–2024 (USD Million)
Table 92 Rest of the World: Market Size By Business Function, 2017–2024 (USD Million)
Table 93 Rest of the World: Legal Business Function Market Size, By Organization Size, 2017–2024 (USD Million)
Table 94 Rest of the World: Sales Business Function Market Size, By Organization Size, 2017–2024 (USD Million)
Table 95 Rest of the World: Procurement Business Function Market Size, By Organization Size, 2017–2024 (USD Million)
Table 96 Rest of the World: Others Market Size, By Organization Size, 2017–2024 (USD Million)
Table 97 Rest of the World: Contract Management Software Market Size, By Vertical, 2017–2024 (USD Million)
Table 98 Rest of the World: Government Vertical Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 99 Rest of the World: Retail Vertical Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 100 Rest of the World: Healthcare and Life Sciences Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 101 Rest of the World: Banking, Financial Services and Insurance Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 102 Rest of the World: Transportation and Logistics Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 103 Rest of the World: Manufacturing Vertical Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 104 Rest of the World: Telecom and IT Vertical Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 105 Rest of the World: Other Verticals Market Size, By Deployment Type, 2017–2024 (USD Million)
Table 106 Rest of the World: Contract Management Software Market Size, By Country, 2017–2024 (USD Million)

List of Figures

Figure 1 Global Contract Management Software Market: Research Design
Figure 2 Market Top-Down and Bottom-Up Approaches
Figure 3 Competitive Leadership Mapping: Criteria Weightage
Figure 4 Contract Management Software Market to Witness Significant Growth During the Forecast Period
Figure 5 Fastest-Growing Subsegments in the Global Market in 2019
Figure 6 Contract Management Software Market: Regional Snapshot
Figure 7 Rising Compliance Cost Driving the Global Market
Figure 8 Software Segment to Hold a Larger Market Share in the Market During the Forecast Period
Figure 9 Legal Business Function to Lead the Contract Management Software Market During the Forecast Period
Figure 10 Support and Maintenance Segment to Lead the Market in 2019
Figure 11 Small and Medium-Sized Enterprises Segment to Grow at a Higher CAGR During the Forecast Period
Figure 12 Cloud Segment to Hold a Higher Market Share in 2019
Figure 13 Healthcare and Life Sciences Segment to Lead the Contract Management Software Market During the Forecast Period
Figure 14 Asia Pacific Considered as the Best Market to Invest During 2019–2024
Figure 15 Drivers, Restraints, Opportunities, and Challenges: Contract Management Software Market
Figure 16 Software Segment to Grow at a Higher Rate in the Market During the Forecast Period
Figure 17 Support and Maintenance Services Segment to Account for the Largest Market Size During the Forecast Period
Figure 18 Small and Medium-Sized Enterprises Segment to Grow at a Higher CAGR During the Forecast Period
Figure 19 Cloud Segment to Have a Larger Market Size
Figure 20 Legal Segment to Have the Largest Market Size By 2024
Figure 21 North America to be the Largest Contract Management Software Market During the Forecast Period
Figure 22 Asia Pacific to Grow at the Highest CAGR During the Forecast Period
Figure 23 North America: Market Snapshot
Figure 24 Asia Pacific: Market Snapshot
Figure 25 Contract Management Software Market Competitive Leadership Mapping
Figure 26 Top 5 Companies in the Market
Figure 27 SAP: Company Snapshot
Figure 28 Coupa: Company Snapshot
Figure 29 DocuSign: Company Snapshot

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