Contract life-cycle management software market 2023-2027; A descriptive analysis of five forces model, market dynamics, and segmentation- Technavio

NEW YORK, Jan. 18, 2023 /PRNewswire/ -- According to Technavio, the global contract life-cycle management software market size is estimated to grow by USD 2,922.58 million from 2022 to 2027. The market is estimated to grow at a CAGR of 18.8% during the forecast period. However, the growth momentum will progressing. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 44%. 

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The global cloud data warehouse market is fragmented, and the five forces analysis covers– 

• Bargaining power of buyers 
• The threat of new entrants
• Threat of rivalry
• Bargaining power of suppliers
• Threat of substitutes
• Interpretation of porter's five models helps to strategize the business, for entire details – buy the report!

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Segment Overview
Technavio has segmented the market based on component (Software and Services), and deployment (On-premise and Cloud-based).

• The market share growth by the Software segment will be significant during the forecast period. The software is a tool for ensuring that the intent of every contract in an organization is fully realized. It can maximize contract performance, ensure the enforcement of commercial terms, accelerate cash flow and time-to-revenue, and reduce the risk of non-compliance. With advanced contract life-cycle management software, users can auto-build contracts based on defined business rules and bulk data upload. These advantages associated with the segment will fuel the market growth during the forecast period.

Geography Overview
By geography, the global contract life-cycle management software market is segmented into North America, Europe, APAC, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global contract life-cycle management software market.

• North America is estimated to contribute 44% to the growth of the global market during the forecast period. The rise in regulatory legislation in various industries in North America leads to the increased adoption of contract life-cycle management software to address the need for compliance adherence. The increased adoption of digital technology across all industry verticals is helping the contract life-cycle management software market to grow in the region, mainly in the US and Canada. Prominent vendors such as Corcentric, IBM, and Coupa are based in the US. These vendors have a huge customer base for contract life-cycle management in the US.

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• One of the key factors driving growth in the market is the pricing strategies of vendors. 
• To thrive in a competitive market environment, software vendors are adopting customer-centric pricing strategies enabled by advances in technology. Several vendors in the contract lifecycle management market are focusing on providing value-based pricing models depending on the customer's needs and value perception.
• The pricing of the software is based on varied features of the software solution and the value-added features provided to the customers.
• The high price of the software and constrained IT budgets have led the vendors to re-evaluate the software pricing and delivery models.
• Therefore, vendors are providing SaaS, commercial open-source models, and term licensing to be in sync with the changing demands. Varying pricing structures of the legal practice management software will increase its adoption among end-users.

• The emergence of analytics in contract life-cycle management is another factor supporting the market share growth. 
• Enterprises across all domains are increasingly adopting contract life-cycle management built-in analytics to understand and interpret historical data points.
• This helps them to immediately access any contract information for comparisons, potential risks, and future performance estimates within the supply chain as it provides reporting and analytical capabilities across all aspects of the contracts and compliance life-cycle.
• With built-in analytics, it helps to manage risk and optimize performance. Enterprises gain a better understanding of the patterns that are most valuable and useful in their contracts.
• They can use the derived insights from analytics tools to enhance their existing business relationships and accordingly pick the optimum contractor during contract renewals or while making new contract decisions.

• The high implementation and maintenance costs will be a major challenge for the market during the forecast period. 
• The price of the contract lifecycle management includes the cost of software licensing, system design and customization, implementation, training, and maintenance.
• An organization that has purchased the software requires IT staff with the relevant skillset for successful implementation of the software.
• Implementation of the contract life-cycle management requires self-assessment, planning, adequate funding, a clear vision, and cooperation at all managerial levels.
• These factors lead to an increased cost of implementation of the contract life-cycle management, which adversely affects its adoption among the end-users, especially small enterprises.

Driver, Trend, and Challenges are the factors of market dynamics that state about consequences and sustainability of the businesses, find some insights from a sample report!

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the contract life-cycle management software market between 2023 and 2027
• Precise estimation of the size of the contract life-cycle management software market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the contract life-cycle management software market across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of contract life-cycle management software market vendors

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• The quality management software market is estimated to grow at a CAGR of 10% between 2022 and 2027. The size of the market is forecast to increase by USD 5,897.6 million. The increase in the adoption of cloud-based quality management software offerings is notably driving the market growth, although factors such as the threat from open-source quality management software providers may impede the market growth.
• The workspace management software market is estimated to grow at a CAGR of 17.5% between 2022 and 2027. The size of the market is forecast to increase by USD 2,293.64 million. The increased need for optimized space planning is notably driving the market growth, although factors such as reluctance to adopt workspace management software may impede the market growth. 

Contract Life-cycle Management Software Market Scope

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Component
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Deployment
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global contract life-cycle management software market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global contract life-cycle management software market 2017 - 2021 ($ million)

• 4.2 Component Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Component Segment 2017 - 2021 ($ million)

• 4.3 Deployment Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Deployment Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Component

• 6.1 Market segments
• Exhibit 30: Chart on Component - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Component - Market share 2022-2027 (%)

• 6.2 Comparison by Component 
• Exhibit 32: Chart on Comparison by Component
• Exhibit 33: Data Table on Comparison by Component

• 6.3 Software - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Software - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Software - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Software - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Software - Year-over-year growth 2022-2027 (%)

• 6.4 Services - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Services - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Services - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Component 
• Exhibit 42: Market opportunity by Component ($ million)

7 Market Segmentation by Deployment

• 7.1 Market segments
• Exhibit 43: Chart on Deployment - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Deployment - Market share 2022-2027 (%)

• 7.2 Comparison by Deployment 
• Exhibit 45: Chart on Comparison by Deployment
• Exhibit 46: Data Table on Comparison by Deployment

• 7.3 On-premise - Market size and forecast 2022-2027 
• Exhibit 47: Chart on On-premise - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on On-premise - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on On-premise - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on On-premise - Year-over-year growth 2022-2027 (%)

• 7.4 Cloud-based - Market size and forecast 2022-2027 
• Exhibit 51: Chart on Cloud-based - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Cloud-based - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Cloud-based - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Cloud-based - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Deployment 
• Exhibit 55: Market opportunity by Deployment ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 57: Chart on Market share by geography 2022-2027 (%)
• Exhibit 58: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 59: Chart on Geographic comparison
• Exhibit 60: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 61: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 63: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 64: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 65: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027 
• Exhibit 69: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 73: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027 
• Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 81: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027 
• Exhibit 85: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 89: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 India - Market size and forecast 2022-2027 
• Exhibit 93: Chart on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.12 Canada - Market size and forecast 2022-2027 
• Exhibit 97: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 101: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 102: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 103: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 104: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 105: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 106: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 107: Matrix on vendor position and classification

• 12.3 Contract Logix Llc
• Exhibit 108: Contract Logix Llc - Overview
• Exhibit 109: Contract Logix Llc - Product / Service
• Exhibit 110: Contract Logix Llc - Key offerings

• 12.4 Corcentric Inc.
• Exhibit 111: Corcentric Inc. - Overview
• Exhibit 112: Corcentric Inc. - Product / Service
• Exhibit 113: Corcentric Inc. - Key offerings

• 12.5 Coupa Software Inc.
• Exhibit 114: Coupa Software Inc. - Overview
• Exhibit 115: Coupa Software Inc. - Product / Service
• Exhibit 116: Coupa Software Inc. - Key offerings

• 12.6 DocuSign Inc.
• Exhibit 117: DocuSign Inc. - Overview
• Exhibit 118: DocuSign Inc. - Product / Service
• Exhibit 119: DocuSign Inc. - Key offerings

• 12.7 ESM Solutions Corp.
• Exhibit 120: ESM Solutions Corp. - Overview
• Exhibit 121: ESM Solutions Corp. - Product / Service
• Exhibit 122: ESM Solutions Corp. - Key offerings

• 12.8 Great Minds Software Inc. 
• Exhibit 123: Great Minds Software Inc. - Overview
• Exhibit 124: Great Minds Software Inc. - Product / Service
• Exhibit 125: Great Minds Software Inc. - Key offerings

• 12.9 Icertis Inc.
• Exhibit 126: Icertis Inc. - Overview
• Exhibit 127: Icertis Inc. - Product / Service
• Exhibit 128: Icertis Inc. - Key offerings

• 12.10 Infor Inc.
• Exhibit 129: Infor Inc. - Overview
• Exhibit 130: Infor Inc. - Product / Service
• Exhibit 131: Infor Inc. - Key news
• Exhibit 132: Infor Inc. - Key offerings

• 12.11 International Business Machines Corp. 
• Exhibit 133: International Business Machines Corp. - Overview
• Exhibit 134: International Business Machines Corp. - Business segments
• Exhibit 135: International Business Machines Corp. - Key news
• Exhibit 136: International Business Machines Corp. - Key offerings
• Exhibit 137: International Business Machines Corp. - Segment focus

• 12.12 Ivalua Inc.
• Exhibit 138: Ivalua Inc. - Overview
• Exhibit 139: Ivalua Inc. - Product / Service
• Exhibit 140: Ivalua Inc. - Key offerings

• 12.13 JAGGAER Llc
• Exhibit 141: JAGGAER Llc - Overview
• Exhibit 142: JAGGAER Llc - Product / Service
• Exhibit 143: JAGGAER Llc - Key offerings

• 12.14 Newgen Software Technologies Ltd. 
• Exhibit 144: Newgen Software Technologies Ltd. - Overview
• Exhibit 145: Newgen Software Technologies Ltd. - Product / Service
• Exhibit 146: Newgen Software Technologies Ltd. - Key offerings

• 12.15 Oracle Corp.
• Exhibit 147: Oracle Corp. - Overview
• Exhibit 148: Oracle Corp. - Business segments
• Exhibit 149: Oracle Corp. - Key news
• Exhibit 150: Oracle Corp. - Key offerings
• Exhibit 151: Oracle Corp. - Segment focus

• 12.16 SAP SE
• Exhibit 152: SAP SE - Overview
• Exhibit 153: SAP SE - Business segments
• Exhibit 154: SAP SE - Key news
• Exhibit 155: SAP SE - Key offerings
• Exhibit 156: SAP SE - Segment focus

• 12.17 Wolters Kluwer NV
• Exhibit 157: Wolters Kluwer NV - Overview
• Exhibit 158: Wolters Kluwer NV - Business segments
• Exhibit 159: Wolters Kluwer NV - Key offerings
• Exhibit 160: Wolters Kluwer NV - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 161: Inclusions checklist
• Exhibit 162: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 163: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 164: Research methodology
• Exhibit 165: Validation techniques employed for market sizing
• Exhibit 166: Information sources

• 13.5 List of abbreviations 
• Exhibit 167: 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.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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