Summary
The global Enterprise Contract Management (ECM) Market is expected to witness a CAGR of xx% over the forecast period 2020-2026 and is expected to reach US$ xx million in 2026, from US$ xx million in 2019.
Overview
Enterprise contract management is a strategy to contract management, which brings all the business commitments of a business together into a single integrated system for comprehensive, holistic management. It is a set of software solutions, which help in improving and managing business processes, such as customer relationships, supplier relationships, financial transactions, and information technology. It helps business owners by automating business processes, reducing cycle time, streamlining project delivery, and consolidating resources. The global enterprise contract management (ECM) market focuses on six regions namely North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The global enterprise contract management (ECM) market is expected to witness significant growth during the forecast period, owing to rising complexity due to diversity in sales and licensing models.
Market Drivers
Increasing demand for agile contract management is expected to drive growth of the global enterprise contract management (ECM) market during the forecast period. Agile contract management refers to the management of contracts made with vendors, contracts, partners, or employees. For instance, in October 2020, Volody launched contract management software to support Volody launches contract management software to support LIBOR transition. Thus, such factors are expected to drive growth of the global enterprise contract management (ECM) market during the forecast period. Furthermore, rising complexity due to diversity in sales and licensing models is expected to propel the global enterprise contract management (ECM) market growth over the forecast period.
Market Restraint
Lack of skilled professionals and increased threat of cyber-attacks is expected to hamper the global enterprise contract management (ECM) market growth over the forecast period.
Regional Insights
Among regions, North America is expected to witness significant growth in the global enterprise contract management (ECM) market during the forecast period. This is owing to the presence of well-established end-use industries such as BFSI, healthcare, and telecom in the region. Furthermore, Europe is expected to register a robust growth rate, owing to increasing demand for digital transportation for digital transformation in the U.K.
Competitive Section
Major competitors operating in the global enterprise contract management (ECM) market are Agiloft, Onit, SAP SE, Icertis, Concord, Oneflow, SecureDocs, BasWare, Contract Room, SpringCM, Coupa Software, and Cobblestone Systems Corporation.
Key companies are focused on product launches, in order to expand their product portfolio. For instance, in January 2021, Agiloft Inc., a U.S.-based business process management software solution provider, launched its AI-powered contract management software on Salesforce named ‘AppExchange’, which enables enhanced data synchronization between Agiloft and Salesforce to streamline and accelerate the commercial processes surrounding contracts.
The Enterprise Contract Management (ECM) Market report highlights product development and growth strategies such as merger and acquisition adopted by market players along with SWOT Analysis, PEST and Porter’s Five Forces analyses of the Enterprise Contract Management (ECM) Market, which highlight the strengths, weaknesses, opportunities, and commination of key companies. Moreover, the report offers two distinct market forecasts, one from the perspective of the producer and another from that of the consumer.
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers.
The Key Manufacturers covered in this Report:-
- Agiloft
- AppExtremes
- BasWare
- Cobblestone Systems Corporation
- Concord
- Contract Room
- Coupa Software
- Icertis
- Octiv
- Oneflow
- Onit
- SAP SE
- SecureDocs
- SpringCM (DocuSign)
By the Product Type, the market is primarily segmented into:
By Applications, the market is segmented into:
- split into
- Consumer Goods and Retail
- Health Care and Life Sciences
- BFSI
- Aerospace and Defense
- IT & Telecom
- Media and Entertainment
- Transportation and Logistics
- Tourism Industries
- Others
The Report covers the following Regions:
- North America
- United States
- Canada
- Mexico
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Indonesia
- Thailand
- Malaysia
- Philippines
- Vietnam
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Central & South America
- Middle East & Africa
- Turkey
- GCC Countries
- Egypt
- South Africa
Objective of the Enterprise Contract Management (ECM) Market Report:
- To assess the size of the market by value and volume
- Analyze the Enterprise Contract Management (ECM) Market in terms of regions and major countries
- Highlight recent developments and trends in the market
- Offer perceptive data regarding major market players in terms of key developments, strategies, and product portfolio
- Determine share of the Enterprise Contract Management (ECM) Market in terms of various segments such as by product type, application, and end-user
- Offer accurate projection of the market for the forecast period using state-of –the-art tools and the current primary and secondary research approaches
- Discuss major factors that impact growth of the Enterprise Contract Management (ECM) Market
The Enterprise Contract Management (ECM) Market engages the readers with all pivotal approaches to understand their position in the industry based on revenue or sales growth. The report efficiently evaluates the Enterprise Contract Management (ECM) Market from various dimensions to deliver an end-product that is informative, elaborate, and accurate and includes detailed market segmentation, regional analysis, and competition in the market. The information in the report is backed by annual company reports, financial reports, press releases, regulatory databases, government documents, and statistical databases.
For the data information by region, company, type and application, 2019 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Key Stakeholders:
- Material suppliers/wholesalers
- Market Distributors/traders
- Regulatory bodies
- Research organizations, and consulting firms
- Commercial research & developments (R&D)
- Trade associations and industry bodies
- Importers and exporters
- End-use industries
Available Customizations:
Custom research is one of the most crucial components of the business strategy that helps an organization gain insight into specific business sector, aligned with its specific area of interest. Thus, SMI offers more accurate, pragmatic, and actionable information specifically tailored to suit your business needs.
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