Agreement Analytics Market Size & Share, by Deployment (Cloud-based, On-premise); Component (Solutions, Services); Application (BFSI, Transportation, Government, Retail, e-Commerce, Healthcare, Telecom, IT, Manufacturing) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 3595
  • Published Date: Nov 30, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Agreement Analytics Market size is anticipated to surpass USD 11 Billion by the end of 2036, growing at a CAGR of 16% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of agreement analytics was over USD 2 Billion. The production of vast volumes of IT operational data is responsible for the market's expansion. The market is becoming increasingly crowded with emerging technologies like big data, ML, and IoT, creating intense competition.  As per a report, by 2021, services accounted for almost half of BDA (big data and business analytics) spending. Enterprises are trying hard to adopt these technologies and enhance their expertise to sustain their position in the market. Agreement analytics solutions provide organizations with a better understanding of procurement risks that might occur while operating in such a rigorous competitive environment.

The web's accessibility has significantly improved digital working environments in all fields. The proliferation of digital technology has led to the widespread adoption of automated solutions, such as software for managing contracts. Software for managing contracts has made it easier for sellers, customers, and partners to work together. The goals of legal and medical services are to provide high-quality care while keeping prices down. Owing to all this, the agreement analytics market is witnessing growth.

Agreement Analytics Market
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Agreement Analytics Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Implementation of Big Data and Other Related Technologies - Growth in the business ecosystem has been stimulated by the increasing use of modern technologies including cloud, IoT, big data & analytics, mobility, and social media. These technologies have led to innovation and transformation. This real-time data processing can be used by advanced analytics tools to deliver timely insights for preventive measures. The increasing utilization of big data and associated technologies fosters a favorable atmosphere. The rising market acceptance of advanced analytics is fuelled by these technologies, which help organizations leverage the power of data, extract relevant insights, and drive data-driven decision-making.
  • Growing Advancements in AI and ML Technologies - The capabilities of advanced analytics systems are constantly being improved by developments in AI and machine learning algorithms. Advancements in algorithms, automated model construction, and deep learning methodologies facilitate the extraction of more precise and practical insights from data, hence propelling the utilization of advanced analytics within enterprises. As AI and ML algorithms develop, more precise forecasts and insights from data are made possible. Furthermore, developments in AI and ML enable automated construction and optimization procedures. This helps enterprises save time and money by reducing the need for manual model development and tuning. Furthermore, developments in AI and ML enable customized experiences and recommendations to be provided by sophisticated analytics systems. Organizations are able to offer recommendations that are specifically personalized by analyzing past data, preferences, and use behavior.
  • Growing Joint Ventures Between Key Players - As the world becomes more interconnected, the need to manage projects and work together in joint ventures has made contracts more visible to the parties involved. As a result, several businesses have implemented agreement analytics programs. For instance, in 2022 Ooredoo Group selected Icertis as a contract intelligence provider. In order to guarantee that all of the data are appropriately preserved throughout the organization, Ooredoo intends to use the contract intelligence CLM platform to create massive amounts of papers in an organized and connected manner. Therefore, the development of cloud-based agreement analytics is one of the major factors propelling the market for contract management software.


  • Concerns Related to Data Privacy and Security - Data losses and security breaches are more likely now that exabytes and petabytes of data are being managed inefficiently. In the current competitive industry, marketing teams need access to secure, up-to-date data in order to provide exceptional customer service. Businesses are using several touchpoints to collect data and measure it digitally. Public information about goods, services, and communication platforms is included in these data types. Thus, in order to keep customers' trust, vendors must guarantee the highest level of data security. Cybercriminals now have easy access to technologies that can be used to get passwords, secret questions, and passwords created using tokens. Strong hacks like this still make it difficult for advanced analytics to be widely used in data-intensive industrial sectors. Therefore, this factor is anticipated to hinder the market growth of agreement analytics.
  • Complexity of the Data Ecosystem Leading to Data Breaches and Security Issues May hinder the Market Growth
  • High Initial Costs with Installation, Deployment, or Maintenance May Hamper the Market Growth of the Agreement Analytics

Agreement Analytics Market: Key Insights

Base Year


Forecast Year



~ 16%

Base Year Market Size (2023)

~ USD 2 Billion

Forecast Year Market Size (2036)

~ USD 11 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Agreement Analytics Segmentation

Deployment (Cloud-based, On-premise)

Agreement analytics market for the cloud-based segment is anticipated to hold a share of 56% during the forecast period. Over time, the market is expected to grow as more and more businesses embrace cloud infrastructure to enhance data accessibility from remote places. For instance, Amazon Web Services (AWS) held about 33 percent market share in the market for cloud infrastructure services in the first quarter of 2022. Cloud deployment makes it possible for data to be seamlessly synchronized from many sources, making data transmission and communication easier than with an on-premises architecture. Additionally, the advantages of cloud deployment including its pay-per-use model and ease of deployment are said to be some of the main drivers of its global expansion.

Application (BFSI, Transportation, Government, Retail, e-Commerce, Healthcare, Telecom, IT, Manufacturing)

The healthcare segment in the agreement analytics market is poised to hold a share of 24% during the projected period. The market is growing because there is a growing need to achieve regulatory compliance throughout one's life by obtaining real-time visibility for business associate agreements at the clause level. Furthermore, the healthcare industry is under increasing scrutiny for complying with regulations like the Health Insurance Portability and Accountability Act (HIPAA), which highlights the necessity for clearly defined standard operating procedures. Additionally, the industry's growth has been aided by numerous other strict medical regulations, standards, and policies. Software for contract analytics helps healthcare firms create a stronger foundation for compliance management while lowering risks.

Our in-depth analysis of the global market includes the following segments:


  • Cloud-based
  • On-premise


  • Solutions
  • Services


  • BFSI
  • Transportation
  • Government
  • Retail
  • e-Commerce
  • Healthcare
  • Telecom
  • IT
  • Manufacturing

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Agreement Analytics Industry - Regional Synopsis

North American Market Forecast

The agreement analytics market in North America is anticipated to hold the largest share of 37% during the projected period. The growth can be attributed to the expanding presence of vendors exploring AI in retail and natural processing techniques, and the increase in the number of small and medium-sized organizations in the region. For instance, in 2020, there were around 6.62 million small businesses in the US that employed people. Also, it is anticipated that data security and privacy regulations such as the Health Insurance Portability and Accountability Act (HIPAA) will increase the demand for agreement analytics. Therefore, all these factors are propelling the market growth in the region.

APAC Market Statistics

Asia Pacific agreement analytics market is projected to hold the second-largest share of 25% during the foreseen period. The growth can be accredited to the rapid shift towards digitization and increasing demand for cloud-based applications. The market for agreement analytics is expected to grow as a result of the growing requirement for software that ensures regulatory compliance in order to protect the organization from fines for non-compliance and to mitigate contract-related risks.

Research Nester
Agreement Analytics Market Size
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Companies Dominating the Agreement Analytics Landscape

    • AT Internet
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • IBM
    • Oracle
    • FGH Parent, L.P.
    • ESM Solutions Corporation


In The News

  • August 2023 - In order to provide policyholders and insurers with the best possible customer experience, IBM and FGH Parent, L.P. announced that they have signed a USD 450 million deal to transform Fortitude Re's life insurance policy servicing operations through the use of AI technology and other automation tools.
  • September 2023 - Oracle presented new AI-powered features for Oracle Analytics Cloud. The new capabilities help analytics self-service customers conduct advanced analysis more quickly and effectively and make better business decisions without waiting for data scientists or IT teams, thanks to the Oracle Cloud Infrastructure (OCI) Generative AI service.


Author Credits:  Abhishek Verma, Hetal Singh

  • Report ID: 3595
  • Published Date: Nov 30, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing implementation of big data and other related technologies, growing advancements in AI & ML technologies, and growing joint ventures between key players are the major factors driving the growth of the agreement analytics market.

The market size of agreement analytics is anticipated to attain a CAGR of 16% over the forecast period, i.e., 2024-2036.

The major players in the market are AT Internet, IBM, Oracle, FGH Parent, L.P., ESM Solutions Corporation, Tsuzuki Electric Co., Ltd., NTT DOCOMO, INC., MNTSQ Co., Ltd., DocuSign Japan, Inc., JGC Corporation and others.

The cloud-based segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North America region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Agreement Analytics Market Report Scope

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