The contract lifecycle management assists in managing organization's contracts from different initiation through performance, execution, and renewal/expiry. The automation of contract lifecycle management restrict the risk of exposure of organization by lowering missed obligations and following compliance framed by legal authorities.
MARKET SCOPE
The "Global Contract Lifecycle Management Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the contract lifecycle management market with detailed market segmentation by deployment mode, end-user, and geography. The report provides key statistics on the market status of the leading contract lifecycle management market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on deployment mode, the global contract lifecycle management market is segmented into on-premise and cloud.
- On the basis of end-user, the market is segmented into BFSI, retail and e-commerce, healthcare, manufacturing, and others.
MARKET DYNAMICS
Drivers:
- Owing to benefit of less time to review, identifying organization's loopholes, the use of contract lifecycle management is gaining momentum among the enterprises. This benefit is stimulating the use of contract lifecycle management among fintech and retail companies, which will further drive the market growth.
- In addition to this, advent of cloud-based contract lifecycle management software that considerably lowers costs and enables dynamic workflow which is anticipated to provide ample of growth opportunities to the players operating in the contract lifecycle management market.
Restraints:
- High cost may hinder the growth of the contract lifecycle management market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The contract lifecycle management market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the contract lifecycle management market in these regions.
IMPACT OF COVID-19 ON CONTRACT LIFECYCLE MANAGEMENT MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the contract lifecycle management market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from contract lifecycle management market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the contract lifecycle management market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Conga
- Wolters Kluwer N.V.
- Contract Logix, LLC
- Coupa Software Inc.
- Gatekeeper
- Icertis
- Integreon, Inc.
- Newgen Software Technologies Limited
- Oracle
- Zycus Inc.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.