[November 12, 2020]

Contract Life-cycle Management Software Market to Get a Boost From the Adoption of Cloud-based Contract Life Cycle Management | Technavio

The global contract life-cycle management software market size is poised to grow by USD 1.86 billion during 2020-2024, progressing at a CAGR of almost 20% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

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Technavio has announced its latest market research report titled Global Contract Life-cycle Management Software Market 2020-2024 (Graphic: Business Wire).

The global contract life-cycle management software market is driven by the fact that companies all over the world are increasingly adopting cloud-based systems owing to various benefits such as limited requirements for hardware infrastructure, less dependency on in-house IT personnel, low maintenance and implementation costs, low-risk business model, and no licensing costs. Apart from these benefits, there are various underlying aspects also that support this movement towards cloud-based systems, for instance, flexibility to scale up and down, high speed of deployment, and lower upfront costs enable companies to enhance their core competencies. Such benefits will induce companies to adopt cloud-based contract life cycle management software during the forecast period.

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Report Highlights:

• The major contract life-cycle management software market growth came from the on-premises model segment. It is primarily preferred by large enterprises as they have all the necessary infrastructure including in-house IT support and back-up servers to provide the extra level of security that facilitates complete control over critical data.
• North America was the largest contract life-cycle management software market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to factors such as the rise in regulatory legislation and the increased adoption of digital technology across all industry verticals.
• The gobal contract life-cycle management software market is fragmented. Apttus Corp., Contract Logix LLC, Coupa Software (News - Alert) Inc., Icertis Inc., Infor Inc., International Business Machines Corp., Oracle Corp., Robobai Pty Ltd., SAP SE, and Wolters Kluwer NV, are some of the major market participants. To help clients improve their market position, this contract life-cycle management software market forecast report provides a detailed analysis of the market leaders.
• As the business impact of COVID-19 spreads, the global contract life-cycle management software market 2020-2024 is expected to have positive. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

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Emergence of analytics in contract life cycle management will be a Key Market Trend

Organizations are increasingly preferring contract life-cycle management with built-in analytics as it enables them to understand and interpret historical data points. This will help them to immediately access any contract information for comparisons, potential risks, and future performance estimates within the supply chain. These organizations are using built-in analytics to help them manage risk and optimize performance by reducing cost, shorten the sales cycle, and streamline enterprise contract processes. This increasing use of analytics will result in the growth in the demand of the Contract Life-cycle Management Software Market during the forecast period.

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Contract Life-cycle Management Software Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist contract life-cycle management software market growth during the next five years
• Estimation of the contract life-cycle management software market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the contract life-cycle management software market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of contract life-cycle management software market vendors

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Executive Summary

Market Landscape

• Market ecosystem
• Market characteristics
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Deployment

• Market segments
• Comparison by Deployment
• On-premise - Market size and forecast 2019-2024
• Cloud-based - Market size and forecast 2019-2024
• Market opportunity by Deployment

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• APAC - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography
• Market drivers - Demand led growth
• Market challenges
• Market trends

Vendor Landscape

• Vendor landscape
• Landscape disruption
• Competitive landscape

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Apttus Corp.
• Contract Logix LLC
• Coupa Software Inc.
• Icertis Inc.
• Infor Inc.
• International Business Machines Corp.
• Oracle Corp.
• Robobai Pty Ltd.
• SAP (News - Alert) SE
• Wolters Kluwer NV

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201112005091/en/

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