Vendor Insights
The contract life-cycle management software market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. The key players that dominate the market are Coupa Software Inc., Oracle Corp., and SAP SE, and they have noteworthy shares in the global contract life-cycle management software market.
The increasing number of strategic efforts taken by governments in numerous countries, such as Brazil, the United Arab Emirates, and India, to strengthen their market presence would boost their revenue shares and move their economies forward. This will likely result in new project launches and will further intensify the competition in the global contract life-cycle management software market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Contract Logix LLC
- Coupa Software Inc.
- Icertis Inc.
- Infor Inc.
- Oracle Corp.
- Robobai Pty Ltd.
- SAP SE
- International Business Machines Corp.
- Thoma Bravo LP
- Wolters Kluwer NV
Find additional highlights on the growth strategies adopted by vendors and their product offerings, Read Free Sample Report.
Geographical Market Analysis
North America will provide maximum growth opportunities in the contract life-cycle management software market during the forecast period. According to our research report, the region will contribute 44% of the global market growth and is expected to dominate the market through 2025.
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. The region's dominance is largely due to the availability of suitable IT infrastructure and growing knowledge of contract life-cycle management's benefits. Contract life-cycle management allows enterprises to adopt a holistic approach toward contracts and manage the entire life-cycle and is expected to grow significantly in the region during the forecast period.
Furthermore, countries such as North America, MEA, APAC, Europe, and South America are expected to emerge as prominent markets for the contract life-cycle management software market during the forecast period.
Know more about this market's geographical distribution along with the detailed analysis of the top regions. https://www.technavio.com/report/contract-life-cycle-management-software-market-industry-analysis
Key Segment Analysis
The on-premises life-cycle management software segment is expected to record low growth compared with the cloud-based life-cycle management software segment during the forecast period. In an on-premises deployment model, the software is purchased and installed on the user's server. IT specialists maintain it in the organization. Organizations incur additional expenses for monitoring, maintaining, upgrading, and providing training and support to the end-users. During the adoption of on-premises contract life-cycle management software, vendors provide installation, data migration, and employee training services.
The biggest advantage of on-premises contract life-cycle management is complete control over essential data. This type of software can be tailored to meet the needs of a certain business. It adds an extra layer of protection. These factors will drive the growth of the segment during the forecast period.
View FREE Sample: to know additional highlights and key points on various market segments and their impact in coming years.
Key Market Drivers & Trends:
One of the key factors driving growth in the contract life-cycle management software market is the pricing strategies of vendors. Several contract life-cycle management companies are focusing on providing value-based pricing models that are based on the needs and perceptions of the customer. The program's pricing is determined by the many elements of the software solution as well as the value-added features offered to consumers.
To keep up with shifting expectations, vendors are offering SaaS, commercial open-source approaches, and term licensing. End-user adoption of legal practice management software will be boosted by a variety of price structures.
Another reason boosting the contract life-cycle management software market share increase is the advent of analytics in contract life-cycle management. Contract life-cycle management allows for reporting and analysis on all areas of the contract and compliance life-cycle. They can use the information gleaned from analytics tools to improve their existing business connections and, as a result, choose the best contractor for contract renewals or new contracts.
Download a free sample for highlights on market Drivers & Trends affecting the contract life-cycle management software market.
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Contract Life-cycle Management Software Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 20.47% |
Market growth 2021-2025 |
$ 2.33 billion |
Market structure |
Fragmented |
YoY growth (%) |
18.92 |
Regional analysis |
North America, Europe, APAC, MEA, and South America |
Performing market contribution |
North America at 44% |
Key consumer countries |
US, China, Germany, Japan, and the UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Contract Logix LLC , Coupa Software Inc., Icertis Inc., Infor Inc., Oracle Corp., Robobai Pty Ltd., SAP SE, International Business Machines Corp., Thoma Bravo LP, and Wolters Kluwer NV |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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SOURCE Technavio
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