Market overview
The contract management market is expected to register a healthy CAGR of 12.3% in the forecast period. This report gives a better understanding of the varied outlook of the contract management market and studies the impact of the pandemic has had covering sectors and sub-sectors of the market.
Contract management software is a crucial thing of any big enterprise. The contract operation is tough, and analyzing, validating, and authenticating contracts is a time taking process. Due to this, organizations are switching to technology for help. Contract management software is one such technology that makes the process easier and enhances productivity in an organization. Even the medium and small-scale businesses have stated adopting contract management for better efficiency.
The adoption of advanced technology like AI and machine learning in contract management is expected to create opportunities for the contract management market. The contract management solutions reduce the review time and identify the loopholes in the system. It also allows the organization to improve operational efficiency and increase transparency. Dealing with contracts is risky, but with contract management, the risk factor is eliminated. The businesses are highly benefitted from the contract management software. Additionally, with the emergence of could-based technology, the contract management market will witness massive demand in the forecast period. The sales, legal, and procurement segment is witnessing high demand in the market.
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Market segmentation
By Component:
- Services
- Software
- Support and maintenance
- Consulting
- Implementation
By Deployment Type:
- On-premise contract management
- Cloud contract management
By Organization Size:
- Large scale enterprises
- Small-medium size enterprises
By Business Function:
- Sales
- Procurement
- Legal
- Finance
- IT
- HR
By Vertical:
- Government
- Manufacturing
- Telecomm and IT
- Banking, insurance and financial service
- Manufacturing
- Healthcare
By Region:
- Europe
- Asia pacific
- North America
Regional analysis
The major regions in the global contract management market are North America, Asia Pacific, Europe, and the Rest of the world. North America region dominates the market owing to the increasing investments in research and development, presence of technically advanced contract management solutions based on AI and machine learning. Most of the enterprises in this region are aware of the contract management solution benefits which will favor the market in this region. Additionally, the changing legal compliances are expected to boost the contract management market in the Asia-Pacific region. Furthermore, the rising demand for contract management solutions in healthcare, the public sector, finance, and manufacturing is boosting the contract management market in Asia-Pacific as well.- Zycus
- GAP
- Agiloft
- SAP Ariba
- Apptus
- Icertis
- IBM
- Concord
- Trackado
- JAGGAER
- Concord
- CLM Matrix
Table Of Contents
1. EXECUTIVE SUMMARY
1.1. Market Attractiveness Analysis
1.1.1. Global Contract Management Market, By Component
1.1.2. Global Contract Management Market, By Deployment
1.1.3. Global Contract Management Market, By Organization Size
1.1.4. Global Contract Management Market, By Vertical
1.1.5. Global Contract Management Market, By Region
2. MARKET INTRODUCTION
2.1. Definition
2.2. Scope Of The Study
2.3. Market Structure
3. RESEARCH METHODOLOGY
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
3.6. List Of Assumptions
4. MARKET DYNAMICS
Continued...
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