Pune, Aug. 21, 2024 (GLOBE NEWSWIRE) -- Intellectual Property Management Software Market Size Analysis:
“The Intellectual Property Management Software Market size was valued at USD 9.15 billion in 2023 and is expected to reach USD 29.66 billion by 2032, growing at a CAGR of 13.99% over the forecast period of 2024-2032.“
The intellectual property management software market is growing at a significant growth rate fueled by the rising recognition of IP as an asset. Among industries, a greater number of organizations is implementing specialized software for managing and protecting their IP assets. This increase in demand is mainly driven by the implementation of single source, secure property management platform for IP creation & documentation, enforcement & licensing. Since firms’ focus is on the utilisation of intellectual assets to create value, the use of IP management tools is expected to grow further along with increasing adoption by large firms and SMEs.
“The Surging Importance of IP Management Software Amidst Worldwide Innovation and Regulatory Changes"
The Intellectual Property Management Software Market is poised to take off, driven by the growing emphasis on managing and protecting intellectual property in a digital era. The shift to a service-oriented economy and new business models—many of them based on digital IP, including AI, blockchain, and IoT systems—is broadening the size and type of IP assets. The explosion of digital platforms and e-commerce, which recorded a whooping global aggregate trade volume of USD 5.5 trillion for the year ended in 2023 only added more impetus to ensuring that virtual assets such as software, trademarks, or proprietary algorithms are safeguarded. As organizations draw on digital technologies for innovation and utilize this medium to create new products as well as services, the number of IP-protected assets continues to increase.
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Major Players Analysis Listed in this Report are:
- Cardinal Intellectual Property
- Patsnap
- Gemalto NV
- Innovation Asset Group, Inc.
- Questel
- Alt Legal, Inc.
- IP Checkups, Inc.
- TM Cloud
- LexisNexis
- Clarivate plc
- Anaqua, Inc.
- patrix ab
- Wellspring Worldwide
On the other hand, intricate IP laws and regulations across different countries pose challenges for businesses. The high costs and complexity associated with IP systems, coupled with varying legal frameworks, require versatile software solutions that can manage cross-border IP effectively. The United States and the United Kingdom have stringent IP regulations, making it imperative for companies to adopt software that ensures compliance and protects their IP globally. Despite these challenges, the shift towards digital business models presents significant opportunities for specialized IP management solutions, as companies seek to protect their innovations and maintain a competitive advantage in the global market.
Intellectual Property Management Software Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 9.15 Billion |
| Market Size by 2032 | US$ 29.66 Billion |
| CAGR | CAGR of 13.99% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | • The intellectual property software is projected to experience significant growth in the coming years, driven by a growing focus on managing and safeguarding intellectual property. • Rising adoption of intellectual property (IP) in the digital economy and the emergence of new business models. |
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Segment Analysis:
By type, patent intellectual property management dominated the market with a significant revenue share of over 32% in 2023. This dominance is attributed to the increasing need for businesses to protect and manage their innovations effectively in a competitive global market. The on-premise segment led the market by deployment, with a revenue share of over 52.3%, driven by the need for improved control over highly valuable IP data, especially in industries with strict compliance and security requirements. The BFSI sector emerged as the leading end-use industry, accounting for over 36.5% of the market share in 2023, owing to the rapid pace of digital transformation and the adoption of innovative technologies in the sector.
Intellectual Property Management Software Market Key Segmentation:
By Type
- Patent Intellectual Property Management
- Trademark Intellectual Property Management
- Copyright Intellectual Property Management
- Design Intellectual Property Management
- Others
By Component
- Software
- Service
By Deployment
- On-premises
- Cloud
By End-Use Industry
- BFSI
- Healthcare
- Automotive
- IT and Telecom
- Research Institutes
- Others
Key Regional Development:
In 2023, North America led the Intellectual Property Management Software Market, accounting for over 41.3% of the global revenue. This dominance is closely tied to the region’s high level of IP activity, particularly in the United States, where 418,262 patent applications were filed. The consistent growth in patent filings highlights the urgent need for effective IP management solutions, particularly in sectors such as technology and pharmaceuticals, where innovations are a cornerstone of business operations. The competitive nature of these industries necessitates robust software to protect and commercialize IP assets effectively.
Recent Developments:
- Clarivate Plc., a prominent global provider of transformative intelligence, announced the IP Collaboration Hub at the 2024 Clarivate Ignite conference in San Diego, U.S. in June 2024.
- In March 2024, Questel announced a strategic partnership with Swiss-based company ipQuants, enhancing its IP management solutions.
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Key Takeaways:
- The report provides in-depth insights into the current and future trends of the Intellectual Property Management Software Market.
- Comprehensive segment analysis with insights into the leading types, deployments, and end-use industries.
- Regional analysis highlighting key developments and growth prospects across major markets.
- Recent developments and strategic initiatives by leading players in the market.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Intellectual Property Management Software Market Segmentation, by Type
8. Intellectual Property Management Software Market Segmentation, by Component
9. Intellectual Property Management Software Market Segmentation, by Deployment
10. Intellectual Property Management Software Market Segmentation, by End-Use Industry
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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