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The intellectual property software market size is estimated to grow at a CAGR of 16.93% between 2023 and 2028. The market size is forecast to increase by USD 5.64 billion. The growth of the market depends on several factors, including the rise in the adoption of intellectual property software to improve the efficiency of enterprises, the rising investments in research and development (R&D) activities resulting in innovations, and compliance with regulatory requirements. Intellectual property software is a tool for data analysis that assists in evaluating information sets and recognizing insufficient data. Software intellectual property is a computer code or program that is protected by law against copying, theft, or other use that is not permitted by the owner.
The report includes a comprehensive outlook on the Intellectual Property Software Market, offering forecasts for the industry segmented by Deployment, which comprises on-premises and cloud-based. Additionally, it categorizes Component into software and service, and covers Geography regions, including North America, Europe, APAC, Middle East and Africa, and South America. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
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The rise in the adoption of intellectual property software to improve the efficiency of enterprises is the key factor driving market growth. Intellectual property software solutions allow enterprises to docket patent requirements, which delivers them the flexibility and speed to create automated and built-in workflows. Such software solutions also enable enterprises to formalize and streamline their internal processes to ensure accountability by tracking the duties of employees, which will help them enhance efficiency. This encourages various market players to offer such software solutions and enterprises to adopt them.
For instance, Patsnap Pte. Ltd. and Evalueserve announced a collaboration in March 2022 to give a decision-centric intelligence solution based on the patent and scientific literature search and analysis. The software solution is expected to provide enhanced patent management services to the clients of several organizations. Thus, the rise in the adoption of intellectual property software to improve the efficiency of enterprises will drive the growth of the market during the forecast period.
The use of AI with intellectual property software is the primary trend shaping market growth. Modern businesses are marked by an increase in the need for advanced business intelligence. AI enables innovation and accelerates technological advancements with data, computing power, and algorithms. This has encouraged vendors to use AI with intellectual property software as it will help them to transform processes and connect an intellectual property network of users. Moreover, the technology will enable the intellectual property teams of enterprises to reduce time spent on administrative tasks and focus on strategic activities.
In addition, the software solution is anticipated to provide an intuitive way for enterprises to get immediate feedback on ideas. It will also enable intellectual property teams to protect ideas using intellectual property rights. Enterprises can also refine their ideas with automated feedback from the AI engine. Therefore, the use of AI with intellectual property software will increase the demand for intellectual property software, which will drive the growth of the market during the forecast period.
The lack of strict intellectual property laws is a challenge that affects market growth. Intellectual property refers to the assets that add value to the business of enterprises as well as benefit their owner. Owing to globalization and advances in technology, the importance of intellectual property protection is increasing among enterprises in industries such as healthcare. Despite this, many countries such as Pakistan and Venezuela do not have strict intellectual property laws, which leads to an abuse of intellectual property.
Furthermore, in India, the application and interpretation of the patent law lack clarity, particularly in areas such as pre-grant opposition provisions, compulsory licenses, and the scope of patentable inventions. Therefore, the perpetrators can find loopholes, which leads to the misuse of intellectual property. Thus, such factors may impede the growth of the market during the forecast period.
The market share growth by the on-premises segment will be significant during the forecast period. The on-premises software is mainly adopted by the BFSI and healthcare sectors. Enterprises also have complete control over their on-premises solutions because of the monitored and restricted access. The on-premises deployment model also allows them to customize the intellectual property software according to their requirements. Market players such as CPA Global Ltd. (Clarivate) offer on-premises intellectual property software.
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The on-premises segment showed a gradual increase in the market share of USD 1.71 billion in 2018. However, accessibility is one of the major concerns with on-premises intellectual property software, as the data cannot be accessed from any device. Moreover, several servers need to be installed to back up the data, which requires additional space and investment. Nevertheless, large enterprises that are wary of a data breach in cloud-based intellectual property software use on-premises intellectual property software. Therefore, the demand from large enterprises is expected to increase the demand for the global intellectual property software market during the forecast period.
The adoption of intellectual property software is high due to the rising awareness and acceptance of intellectual property software in developed and developing countries such as the US, India, Brazil, Algeria, Germany, and several others. Moreover, intellectual property software standardizes the IT process to efficiently protect and manage intellectual property, which includes confidential and private work or projects. Consequently, the deployment of intellectual property software provides an opportunity for organizations to increase the profitability and efficiency of their projects. Therefore, due to such factors, the software segment in the global intellectual property software market will grow significantly during the forecast period.
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North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Countries such as the US and Canada dominate the intellectual property software market in North America due to the high adoption of advanced software-based technologies across various sectors, such as IT, healthcare, and manufacturing. In addition, the North American region is growing at a significant rate in the global intellectual property software market due to the increasing demand from SMEs and large organizations.
Moreover, North America is an early adopter of advanced technologies and is driving the demand for digital business support systems, such as intellectual property software for the management of intellectual property and patents of products and technologies. The strong presence and penetration of major vendors, such as Anaqua and IP Checkups Inc. (IP Checkups), supplement the overall growth of the market in North America. Hence, such factors are expected to drive market growth in this region during the forecast period.
The Intellectual Property Software Market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Intellectual Property Software Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The intellectual property software market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018-2028
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Intellectual Property Software Market Scope |
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Report Coverage |
Details |
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Page number |
165 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 16.93% |
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Market Growth 2024-2028 |
USD 5.64 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
15.81 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 38% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Ambercite Pty Ltd., Anaqua Inc., Clarivate PLC, Dennemeyer Group, Evalueserve Inc., Gridlogics Tech Pvt. Ltd., Innovation Asset Group Inc., InQuartik Corp., International Business Machines Corp., Inteum Co. LLC, IP Checkups, MaxVal Group Inc., Microsoft Corp., Mobileum Inc., OpSec Group, Patrix AB, PatSnap, Questel, RELX Plc, Rowan TELS Corp., Thales Group, TT Consultants, and Zycus Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Deployment
7 Market Segmentation by Component
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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