Press release
Contract Management Software Market: Comprehensive Analysis of $7.15 Billion, Size, Key Market Trends, Segments, and Competitive Insights Shaping Future Growth
Contract Management Software Market
As per the report, the contract management software market size has grown rapidly in recent years. It will grow from $3.51 billion in 2023 to $4.04 billion in 2024 at a compound annual growth rate (CAGR) of 14.9%. The contract management software market size is expected to see rapid growth in the next few years. It will grow to $7.15 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%.
Download Free Sample Report @ https://www.thebusinessresearchcompany.com/sample.aspx?id=14686&type=smp
The Role Of AI-Powered Contract Analysis In Expanding Contract Management Software Market
The increasing adoption of artificial intelligence (AI) and machine learning (ML) is expected to propel the growth of the contract management software market going forward. Artificial intelligence (AI) refers to developing computer systems capable of performing tasks that typically require human intelligence. Machine learning (ML) is a subset of AI that focuses on developing algorithms and statistical models that enable computers to learn from and make predictions or decisions based on data without being explicitly programmed. The increased adoption of artificial intelligence (AI) and machine learning (ML) is due to the proliferation of data from various sources, decreasing hardware costs, cloud computing services, and open-source software. AI and ML algorithms can analyze large volumes of contract data to identify trends, patterns, and insights that might not be apparent through manual analysis. By extracting key information from contracts and analyzing it, organizations can gain valuable insights into contract performance, risks, and opportunities. For instance, in May 2022, according to reports published by International Business Machines, a US-based technology company, the adoption of cloud computing increased by 13% compared to 202. More than one-third of companies (35%) reported using AI in their business in 2022, a four-point increase from 2021. Larger companies are 100% more likely than smaller companies to have deployed AI in their organization, compared with only 69% in 2021. Therefore, the increasing use of AI-powered contract analysis is driving the growth of the contract management software market.
AI-Powered Contract Management Software Revolutionizes Market Dynamics
Major companies operating in the contract management software market are focusing on developing artificial intelligence (AI)-powered contract management software, such as Catalyst for Contracts, to gain a competitive edge in the market. The catalyst for Contracts is software that leverages AI technologies to automate various aspects of contract lifecycle management, from drafting and reviewing to analyzing and managing contracts. For instance, in November 2023, Onit Inc., a US-based software company, launched Catalyst for Contracts. This generative AI-powered contract management software aims to enhance pre- and post-signature contract activities. This software uses generative AI and large language models (LLMs) to improve contract review, compliance confirmation, and issue resolution. The catalyst for Contracts empowers users to interact with contracts dynamically, providing a technological edge that boosts productivity and decision-making for contract teams.
The contract management software market covered in this report is segmented -
1) By Component: Software, Services, Consulting, Implementation, Support And Maintenance
2) By Technology: On-Premises, Cloud
3) By Vertical: Government, Retail And E-commerce, Healthcare And Life Sciences, Banking, Financial Services And Insurance (BFSI), Transportation And Logistics, Telecom And Information Technology (IT), Manufacturing, Other Verticals
Buy Now & Get Exclusive Discount on this Report, Checkout link @
https://www.thebusinessresearchcompany.com/Discount?id=14686&type=discount
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
Contents of the report:
1. Executive Summary
2. Contract Management Software Market Report Structure
3. Contract Management Software Market Trends And Strategies
4. Contract Management Software Market - Macro Economic Scenario
5. Contract Management Software Market Size And Growth
…..
27. Contract Management Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
Explore the report store to make a direct purchase of the report @ https://www.thebusinessresearchcompany.com/report/contract-management-software-global-market-report
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Contract Management Software Market: Comprehensive Analysis of $7.15 Billion, Size, Key Market Trends, Segments, and Competitive Insights Shaping Future Growth here
News-ID: 3566148 • Views: …
More Releases from The Business research company
Evolving Market Trends In The Integrated Geophysical Services Industry: Enhancin …
The Integrated Geophysical Services Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Expected Integrated Geophysical Services Market Size During the Forecast Period?
The integrated geophysical services market has experienced consistent growth in recent years, expected to rise from $2.35 billion in 2024 to…
Global HR Advisory Services Market: Key Trends, Market Share, Growth Drivers, An …
The HR advisory services market report describes and explains the HR advisory services market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global HR advisory services market reached a value of nearly $155.74 billion in 2024, having grown at a compound annual growth rate (CAGR) of 4.22% since…
High Voltage Aluminium Electrolytic Capacitors Global Market Report 2025: Size, …
The high voltage aluminum electrolytic capacitors report describes and explains the high voltage aluminum electrolytic capacitors market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global high voltage aluminum electrolytic capacitors market reached a value of nearly $4.10301 billion in 2024, having grown at a compound annual growth…
Global Vertical Market Software Market: Key Trends, Market Share, Growth Drivers …
The vertical market software report describes and explains the vertical market software market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global vertical market software market reached a value of nearly $152.61027 billion in 2024, having grown at a compound annual growth rate (CAGR) of 12.11% since 2019.…
More Releases for Contract
Contract Lifecycle Management Software Market Overview: Streamlining Contract Pr …
In recent years, the global Contract Lifecycle Management Software Market has witnessed a dynamic shift, influenced by changing consumer preferences, technological advancements, and a growing emphasis on sustainability. The Research report on Contract Lifecycle Management Software Market presents a complete judgment of the market through strategic insights on future trends, growth factors, supplier landscape, demand landscape, Y-o-Y growth rate, CAGR, pricing analysis. It also provides and a lot…
Contract Lifecycle Management Software Market Overview: Streamlining Contract Pr …
In recent years, the global Contract Lifecycle Management Software Market has witnessed a dynamic shift, influenced by changing consumer preferences, technological advancements, and a growing emphasis on sustainability. The Research report on Contract Lifecycle Management Software Market presents a complete judgment of the market through strategic insights on future trends, growth factors, supplier landscape, demand landscape, Y-o-Y growth rate, CAGR, pricing analysis. It also provides and a lot…
Contract Farming Market Beyond the Contract: How Consumer Preferences are Reshap …
Contract Farming Market worth $76.07 Bn by 2031 - Exclusive Report by InsightAce Analytic Pvt. Ltd.
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Contract Farming Market- (By Crop Type (Cereals (e.g., wheat, rice, maize), Fruits, Vegetables, Oilseeds, Pulses, Others), By Livestock Type (Poultry, Dairy, Swine, Cattle, Aquaculture, Others, By Contracting Parties (Agribusiness firms, Processors, Cooperatives, Exporters, Retailers, Others)), Trends, Industry Competition Analysis,…
Pharmaceutical Contract Manufacturing and Contract Market 2021 | Detailed Report
The Pharmaceutical Contract Manufacturing and Contract research report combines vital data incorporating the competitive landscape, global, regional, and country-specific market size, market growth analysis, market share, recent developments, and market growth in segmentation. Furthermore, the Pharmaceutical Contract Manufacturing and Contract research report offers information and thoughtful facts like share, revenue, historical data, and global market share. It also highlights vital aspects like opportunities, driving, product scope, market overview, and driving…
Contract Staffing Company India | Contract Staffing Services Mumbai & Banglore - …
Characterised with stringent legislation, fluctuating demand, a paucity of employable talent and market unpredictability, the modern business landscape offers a convincing rationale to employ a contract workforce in the business. You may not want to compromise on profits when you can adopt a 'just-in-time' strategy to bring the best workforce on-board using a contract staffing approach. With our cutting-edge contract staffing services, you can have all in one shot: An…
Pharmaceutical Contract Manufacturing and Contract Market Size, Share, Developme …
LP INFORMATION offers a latest published report on Pharmaceutical Contract Manufacturing and Contract Market Analysis and Forecast 2020-2025 delivering key insights and providing a competitive advantage to clients through a detailed report.
According to this study, over the next five years the Pharmaceutical Contract Manufacturing and Contract market will register a 6.6% CAGR in terms of revenue, the global market size will reach $ 97680 million by 2025, from $…
