Contract Lifecycle Management Market Share

North American Market Forecast

The contract lifecycle management (CLM) market in North America is estimated to have the largest share of approximately 43% in 2037, impelled by the presence of several major industrial participants such as Coupa, Icertis, Zycuz, SAP SE who are investing heavily in the research and development while they are being included in cutting-edge technological features to improve their customer experience and products. According to the National Centre for Science and Engineering Statistics, the investment in Research and development has increased from about 2.7% in 2016, 2.9% in 2018 to 3.1% in 2019, to about 3.4% in 2020.

APAC Market Statistics

The Asia Pacific contract lifecycle management (CLM) market is estimated to be the second largest, during the forecast timeframe led by the higher adoption of contract lifecycle management solutions across China, India, and Japan, as SMEs in these countries have shown their highest growth in the deployment of their cloud-based solutions, mainly to improve their contract processes and to reduce the business complexity.