The global market for Contract Lifecycle Management (CLM) software was valued at USD 2.6 billion in 2025. It is forecasted to grow steadily, reaching approximately USD 5.7 billion by 2034. This growth corresponds to a compound annual growth rate (CAGR) of 9.2% over the forecast period.
The increasing adoption of workflow automation and enhanced compliance visibility across enterprises is driving demand for CLM solutions. Organizations are investing in these tools to streamline contract processes, reduce risks, and improve operational efficiency.
**Why this matters**
Contract Lifecycle Management software plays a critical role in helping businesses manage contracts from initiation through execution and renewal. As regulatory requirements become more complex and companies seek greater transparency, the demand for automated and compliant contract management solutions is expected to rise, supporting overall enterprise governance and risk management efforts.
Source: NewsData