Frequently Asked Questions
The global contract lifecycle management market was valued at USD 1.2 Billion in 2022.
The contract lifecycle management market is expected to grow at a CAGR of 13.5% between 2023 and 2030, reaching USD 2.2 Billion in 2030.
Software is the leading segment by deployment, holding over 30% share in value in 2022.
Cloud-based governs the global demand for contract lifecycle management, holding a massive share of over 50% in 2022.
The large enterprises segment is expected to post the highest CAGR during the forecast period.
North America is fueling the growth of the contract lifecycle management industry, with an over one-third share in 2022.
The top players include DocuSign, Inc., SirionLabs, Icertis, Agiloft Inc., and Conga.
The major market drivers are the increasing need for efficient contract management, the rising adoption of cloud-based solutions, and the growing complexity of contracts.
The major market restraints include resistance to change and adoption of new technologies and integration complexities with existing software applications and databases.
Growing demand for AI and ML capabilities, expansion into emerging industries such as healthcare, energy, and manufacturing, and increasing need for specialized clm solutions tailored to specific industries.