Contract Management Software Market Report 2025

This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The contract management software market size has grown rapidly in recent years. It will grow from $4.04 billion in 2024 to $4.67 billion in 2025 at a compound annual growth rate (CAGR) of 15.6%. The growth in the historic period can be attributed to automation of manual processes, integration with other systems, enhanced security, mobile accessibility, compliance and risk management.

The contract management software market size is expected to see rapid growth in the next few years. It will grow to $8.24 billion in 2029 at a compound annual growth rate (CAGR) of 15.3%. The growth in the forecast period can be attributed to AI and machine learning, blockchain integration, advanced analytics and predictive insights, focus on sustainability and ESG compliance, voice recognition and natural language processing (NLP). Major trends in the forecast period include enhanced AI and machine learning capabilities, augmented reality (AR) and virtual reality (VR) integration, blockchain-based smart contracts, enhanced collaboration features, focus on cybersecurity and data privacy.

The growing adoption of artificial intelligence (AI) and machine learning (ML) is expected to drive the expansion of the contract management software market. Artificial intelligence (AI) refers to the creation of computer systems that can perform tasks typically requiring human intelligence, while machine learning (ML), a subset of AI, focuses on developing algorithms and statistical models that allow computers to learn from data and make predictions or decisions without explicit programming. The rise in AI and ML adoption is driven by factors such as the increase in data from various sources, declining hardware costs, the availability of cloud computing services, and open-source software. AI and ML algorithms can process vast amounts of contract data to uncover trends, patterns, and insights that may not be easily identified through manual analysis. By extracting and analyzing key information from contracts, organizations can gain valuable insights into contract performance, risks, and opportunities. For example, a report from International Business Machines (IBM) in May 2022 revealed that AI adoption increased by 13% compared to 2021. In 2022, 35% of companies reported using AI in their business, up from 31% in 2021. Larger companies were twice as likely as smaller ones to have implemented AI, with 69% of smaller companies using AI in 2021 compared to larger organizations. As a result, the growing use of AI-powered contract analysis is fueling the growth of the contract management software market.

Key players in the contract management software market are prioritizing the development of AI-powered solutions such as Catalyst for Contracts to gain a competitive advantage. Catalyst for Contracts utilizes AI technologies to automate various contract lifecycle management tasks, including drafting, reviewing, analyzing, and managing contracts. For example, Onit Inc. introduced Catalyst for Contracts in November 2023, leveraging generative AI and large language models (LLMs) to enhance pre- and post-signature contract activities. This software empowers users with dynamic contract interaction, streamlining contract review, compliance confirmation, and issue resolution, thereby enhancing productivity and decision-making for contract teams.

In May 2022, LexisNexis Legal & Professional, a US-based data analytics company, acquired Parley Pro for an undisclosed amount. This acquisition allows LexisNexis to enhance its Enterprise Legal Management (ELM) platform, providing additional benefits to its customers. The ELM platform offers comprehensive capabilities for work, financial, and vendor management. Parley Pro is a US-based provider of cloud-based contract lifecycle management solutions.

Major companies operating in the contract management software market are International Business Machines Corporation, SAP SE, Infosys Limited, DocuSign Inc., GEP Solutions Pvt. Ltd., Coupa Software Inc., Zycus Inc., Information Services Group Inc., Icertis Inc., Model N Inc., Corcentric Inc., JAGGAER Inc., Agiloft Inc., Apptus Corporation, Concord Technologies Inc., SecureDocs Inc., CobbleStone Software LLC, Synertrade SA, Aaveneir LLC, CLM Matrix LLC, Trackado AB, Conga Contracts LLC, Enablesoft Limited, HighQ Solutions Limited.

North America was the largest region in the contract management software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the contract management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the contract management software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The contract management software market includes revenues earned by entities by providing services such as contract creation and authoring, automated workflows, contract tracking, and monitoring. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

Contract management software is a specialized solution aimed at optimizing and streamlining the entire lifecycle of contracts, from creation and negotiation to management, all conducted digitally. This software empowers organizations to efficiently handle contracts, centralize their storage, monitor critical dates and milestones, ensure compliance, and foster collaboration among stakeholders.

The primary components of contract management software include software itself, along with associated services such as consulting, implementation, and support and maintenance. The software encompasses digital programs and applications tailored to assist businesses in effectively managing their contracts, providing functionalities for drafting, storing, tracking, and analyzing contract data. These solutions utilize various technologies, including both on-premises and cloud-based deployment options. Contract management software finds application across a diverse range of verticals, including government, retail and e-commerce, healthcare and life sciences, banking and financial services, transportation and logistics, telecom and IT, manufacturing, and more.

The contract management software market research report is one of a series of new reports that provides contract management software market statistics, including contract management software industry global market size, regional shares, competitors with a contract management software market share, detailed contract management software market segments, market trends and opportunities, and any further data you may need to thrive in the contract management software industry. This contract management software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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