The global Intellectual Property Management Software Market size is anticipated to reach USD 431.6 million by 2028, expanding at a CAGR of 15.6% over the forecast period, as per the research conducted by Grand View Research, Inc. Development in the Information and Communication Technologies (ICT) sector, coupled with the growing awareness and adoption of intellectual property management software across emerging economies such as China and India, are expected to offer lucrative opportunities for the market growth.
Furthermore, increasing government initiatives toward
creating a digital infrastructure and regulatory framework to monetize and
protect creations are also expected to contribute to the growth of the market.
For instance, China’s central government has developed a specialized
intellectual property division in courts to deal with infringement and is
committed to streamlining enforcement processes for trademark violations.
Additionally, India is building a digital infrastructure in line with the
country’s national IP policy. This initiative will safeguard and promote patents
while protecting intellectual properties.
The outbreak of the COVID-19 pandemic has negatively
impacted the growth of the market for intellectual property management
software. The lockdown restrictions imposed by various governments across the
globe have significantly impacted the use of the software. However, the market
is expected to witness significant growth with the gradual leniency in
restrictions and resumption of businesses.
North America contributed around 40.0% to the total
market share in 2020, attributed to the increasing use of patents in the
region. For instance, as per the data published by United States Patents and
Trademarks Office, the number of patents used in the U.S. totaled 399,055 in
2020, compared to 370,423 in 2019. The regional market is anticipated to
witness steady growth over the forecast period as well.
Some of the prominent players in the market for
intellectual property management software include Anaqua Inc.; Clarivate;
Innovation Asset Group, Inc.; Gemalto NV; CPA Global; and Questel. These
players focus on launching new products, applications, and services to enhance
their business operations. For instance, in November 2019, CPA Global announced
its customer-focused strategy to enhance IP outcomes from improved data-enabled
IP decision-making and improved IP productivity across the industry. After the
acquisition of ipan/Delegate Group, CPA global operates in two core business
divisions namely Software and Tech-Enabled Services.
Related Press Release@ Intellectual Property Management Software Market Report
Intellectual Property Management
Software Market Report Highlights
- The service component segment is expected to dominate the market
owing to the increasing demand for post-sale services for software across
the globe. The segment is expected to reach USD 237.8 million by 2028
- The cloud deployment segment is anticipated to expand at the
highest CAGR of 16.3% over the forecast period
- The commercial end-user segment is expected to dominate the market
over the forecast period. It is anticipated to reach USD 255.2 million by
2028
- The patent management segment is anticipated to witness the fastest
CAGR of 16.1% over the forecast period. The growth can be attributed to
increasing patent registrations and applications globally
- North America is projected to account for the largest market share
over the forecast period. The regional market is anticipated to reach USD
163.9 million by 2028. The rapid adoption of technological innovations and
the presence of various prominent players in the region are some of the
major growth drivers for the market in this region
- Prominent industry participants include Anaqua Inc.; Innovation
Asset Group, Inc.; Gemalto NV; CPA Global; and Questel
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
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