Contract Management Software Market is expected to grow $2.9 billion by 2024
Scope of The Report The research report categorizes the Contract Management Software Market to forecast the revenues and analyse the trends in each of the following subsegments:
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Software Services o Consulting o Implementation o Support and Maintenance
By Vertical
By Business Function
By Component • • • •
Legal Sales Procurement Others (IT, HR, and Finance)
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Government Retail and eCommerce Healthcare and Life Sciences BFSI Transportation and Logistics Telecom and IT Manufacturing Others
And More…
Key Segments 1
Major factors expected to drive the growth of the contract management software market include rising demand for an agile contract management software, increasing changes in compliances, and increased complexity owing to diversity in sales and licensing models. By component, the software segment is expected to grow at a higher rate than the services segment during the forecast period. Contract management software provides secure auto-generation of contracts, legal agreements, proposals, quotes, and documents.
2 3 4 5
Contract management software typically fits into a portfolio of tools used to handle overall vendor or contractor relationships and easily integrates with other complementary software such as CRM software, quote management software, accounting software, and e-signature software. Among services, the support and maintenance segment is expected to witness a higher growth rate than the deployment and integration and consulting and advisory services segment during the forecast period.
The support and maintenance services are offered after the installation of an Contract management software solution in an organization.
Market Growth Rate 2019
Market Size of $ 1.5 billion
CAGR
2024
13.5%
Market Size of $ 2.9 billion
Key Vendors Major Players • Aaveneir (US) • Agiloft (US) • Apptus (US) • CLM Matrix (US) • CobbleStone Software (US) • And More
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Major Regions • North America • Europe • APAC • MEA • Latin America North America is expected to hold the largest market share. Asia Pacific (APAC) is expected to provide opportunities for debt collection software providers and grow at the highest CAGR
Key Questions Addressed by the Report: •
Where will all these developments take the industry in the long term?
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What are the upcoming trends for the Contract management software market?
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Which segment provides the most opportunity for growth?
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Who are the leading vendors operating in this market?
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What are the opportunities for new market entrants?
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