How big is the contract lifecycle management market | Trends 2031

Q: What was the Contract Lifecycle Management market size in 2024 and its growth rate?

The Contract Lifecycle Management market was valued at USD 2.56 billion in 2024 and growing at a CAGR of 12.8%.

Q: What will the CLM market be worth by 2031?

Contract Lifecycle Management market is expected to reach approximately USD 5.94 billion by 2031.

Q: Which technologies are accelerating the CLM market?

Contract Lifecycle Management market is accelerated by technologies such as generative AI, cloud-native deployment, blockchain-enhanced workflows, and predictive analytics.

Q: What are the main challenges in implementing CLM?

The main challenges of Contract Lifecycle Management Integration with existing systems (e.g., ERP, CRM), High initial investment costs, Training and change management.

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6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

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Code: MTA5128

Publication Date: Jul 2025

What is the Contract Lifecycle Management Market Size?

According to 6Wresearch internal database and industry insights, the Contract Lifecycle Management market was valued at USD 2.56 billion in 2024 and is anticipated to exceed USD 5.94 billion by 2031, registering a steady at a CAGR of 12.8% during the forecast period.

Contract Lifecycle Management is driven by increasing need for streamlined contract processes, risk mitigation, compliance, automation, and cost efficiency. Furthermore, some drivers include the push toward cloud-based solutions, growing regulatory demands, and the rise of AI/automation for drafting and risk detection. Additionally, business pressure to reduce costs and accelerate cycles is fuelling swift CLM adoption across industries.

Major Growth Factors of the Contract Lifecycle Management Industry

Integration of AI and machine learning
Shift toward cloud-native CLM platforms
Rising regulatory and compliance complexity
Need for reduced contract cycle times
Increased adoption of digital signatures
Global expansion and remote workforce enablement
Enhanced risk management and auditability
Demand for cross-functional integration (e.g., ERP, CRM)

Contract Lifecycle Management Market Trends

Contract Lifecycle Management is anticipated to experience massive growth generative AI that aids in drafting, clause review, and metadata tagging. There is a rising preference for modular, API-first CLM solutions that seamlessly plug into existing enterprise ecosystems. Platforms are also prioritizing mobile access and contextual workflows, empowering legal and business users to act swiftly on contract data from any device or app.

Emerging Developments in the Contract Lifecycle Management Industry

Contract Lifecycle Management is embracing blockchain and smart contracts for secure, auditable execution. New platforms emphasize agentic AI that goes beyond suggestions to proactive contract intelligence and compliance alerts. Furthermore, predictive analytics are being introduced to flag renewal risks and negotiation bottlenecks ahead of time, transforming reactive management into strategic foresight.