Market Overview
The global contract lifecycle management software market size reached USD 2.6 Billion in 2025 and is expected to grow to USD 5.7 Billion by 2034. The market is projected to grow at a CAGR of 9.20% during the forecast period 2026-2034, driven by the increasing complexity of contracts involving multiple stakeholders and the need to streamline contract processes for productivity improvements and cost savings.
Study Assumption Years
- Base Year: 2025
- Historical Year/Period: 2020-2025
- Forecast Year/Period: 2026-2034
Contract Lifecycle Management Software Market Key Takeaways
- The global contract lifecycle management software market size stood at USD 2.6 Billion in 2025.
- The market is forecast to exhibit a CAGR of 9.20% during 2026-2034.
- The forecast period covers 2026 to 2034.
- Market growth is driven by increasing contract complexity due to regulatory changes and legal risk mitigation.
- AI and machine learning integration in CLM software automates contract analysis and decision-making.
- North America currently dominates the market due to robust regulatory frameworks including GDPR and CCPA compliance.
- Opportunities exist in automating manual contract tasks, reducing administrative burdens, and accelerating contract cycles.
Sample Request Link: https://www.imarcgroup.com/contract-lifecycle-management-software-market/requestsample
Market Growth Factors
Increasing complexity of contracts due to regulatory policy changes and prevention of legal risk is driving the contract lifecycle management (CLM) software market. With increasing compliance mandates, organizations are facing rising criticality with their complex contracts affecting the CLM software market growth.
With the advancement of technology, CLM software can incorporate artificial intelligence and machine learning technologies to enable more advanced automation such as drafting, reviewing, and approving contracts and using natural language processing to extract information from contracts.
Further, rising investments in legal technology promote the market growth. The legal tech budget, which was calculated at 2.6% in 2017, is forecast to reach 12% by 2025, compared to 3.9% in 2020. The companies are adopting CLM software to improve productivity, lower cycle time, and automate manual tasks associated with preparing, negotiating, approving, and managing contracts.
Market Segmentation
Deployment Model:
- Cloud-Based: Holds the majority share due to benefits like flexibility, scalability, and accessibility. Popular among SMEs for cost-effective subscription models and reduced IT overhead.
- On-Premises: Also offered, but with smaller market share compared to cloud-based solutions.
CLM Offerings:
- Licensing and Subscription: Largest segment, entailing legal permissions to use software/services with regular payments and efficient contract management.
- Services: Included but smaller share relative to licensing and subscription.
Enterprise Size:
- Large Enterprise: Dominates market, requiring feature-rich, scalable CLM solutions integrated with ERP and CRM for managing complex, high-volume contracts.
- Small and Medium Enterprise: Participates in market with smaller share.
Industry:
- Manufacturing: Largest segment due to complex supply chains and procurement contract management needs.
- Automotive, Electrical and Electronics, Pharmaceutical, Retail and E-Commerce, BFSI, and Others: Other industry segments also adopt CLM but with smaller shares.
Regional Insights
North America leads the contract lifecycle management software market, driven by the presence of large enterprises requiring advanced CLM solutions. The region benefits from strict regulatory compliance such as GDPR and CCPA, and increased adoption of cloud-based offerings. Growth in e-commerce and retail sectors within North America further propels demand for efficient supply chain management and product lifecycle tracking.
Recent Developments & News
- June 2024: Conga launched a new AI-enhanced Contract Lifecycle Management (CLM) product on the Conga Platform, featuring integration with CRM, ERP, and procurement systems.
- January 2024: Evisort introduced Document X-Ray, an AI-powered contract analysis tool enhancing access to organizational agreements.
- February 2024: IntelAgree launched Saige Assist, a generative AI-based tool revolutionizing contract interactions.
Key Players
- Wolters Kluwer N.V.
- IBM Corporation
- Icertis, Inc.
- SAP SE
- BravoSolution SPA.
- Contracked BV
- Contract Logix, LLC
- Coupa Software Inc
- EASY SOFTWARE AG
- ESM Solutions Corporation
- Great Minds Software, Inc.
- Koch Industries, Inc.
- Ivalua Inc
- Optimus BT
- Oracle Corporation
- Symfact AG
- DocuSign, Inc
- Newgen Software Technologies Limited
- Zycus Infotech Private Limited
- Corcentric LLC (Determine)
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
Request For Customization:
https://www.imarcgroup.com/request?type=report&id=1177&flag=E
About Us
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us
IMARC Group,
134 N 4th St. Brooklyn, NY 11249, USA,
Email: sales@imarcgroup.com,
Tel No: (D) +91 120 433 0800,
United States: +1-201971-6302
Comments (0)