Agreement Analytics Market Segmentation:
Deployment Segment Analysis
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 Segment Analysis
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:
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