The effect of an external electric field on the exchange interaction has been studied by an exact diagonalization method for two electrons in laterally coupled quantum dots (QDs). We have performed a systematic study of several nanodevices that contain two gate-defined QDs with different shapes and sizes located between source and drain contacts. The confinement potential is modeled by two potential wells with a variable range and softness. In all the considered nanodevices, the overall dependence of exchange energy J on electric field F is similar, i.e. for low fields J increases with increasing F, while for intermediate fields J reaches a maximum and then abruptly falls to zero if F exceeds a certain critical value. However, the J(F) dependence also shows certain characteristic properties that depend on the nanodevice geometry. We have found that the low- and intermediate-field behavior can be accurately parameterized by a linear function J(F) = αF+β, where α is independent of the nanodevice geometry and softness of the confinement potential. We have shown that the linear J(F) relation appears only if the tunnel coupling between the QDs is weak, i.e. the interdot separation is sufficiently large. This relation becomes nonlinear for the strong interdot coupling. For specific nanodevices we have found that the J(F) dependence exhibits a plateau in a broad electric-field regime. The properties of the exchange energy found in the present paper can be applied to all electrical manipulation of electron spin qubits.