Intellectual Property Management Software Market Anticipated Forecast 2028 In Key Regions
Intellectual Property Management Software Industry Overview
The global intellectual property management software market size was valued at USD 137.3 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 15.6% from 2021 to 2028.
The increasing awareness and application of Intellectual Property (IP) rights among individual and commercial end-users are expected to drive the demand for intellectual property management software. Furthermore, the increasing demand for a well-documented and secured system to manage intellectual properties within an organization is also expected to contribute to market growth. Intellectual property is a lawful approach for protecting inventions and ideas by offering the owners exclusive rights and enabling them to reap commercial benefits from their work.
Gather more insights about the market drivers, restrains and growth of the Global Intellectual Property Management Software Market
During the first half of 2020, the intellectual property management software market witnessed negative growth due to the spread of the COVID-19 virus. Several organizations, manufacturing units, and administrative offices were temporarily shut down to comply with lockdown restrictions imposed across the globe. However, the ease in lockdown restrictions and resumption of various activities, including people movement and trade activities, are anticipated to support the market demand over the forecast period.
Intellectual property management software enables IP owners to efficiently store and protect their intellectual properties under a trademark, copyright, software patent, or trade secret. It also helps them to streamline access to their intellectual property data. Patent management software is an administrative software that manages the entire workflow process for patent portfolio managers for allocation of deadlines, reminder alerts for renewals, case document docketing, and due filing and submissions. Owing to these benefits, the software is widely adopted by various organizations to offer efficient services to their customers.
The increased acceptance of outsourcing IP management services by various large enterprises is contributing to the growth of the market. Furthermore, in-house IP management is a vast resource-demanding task that requires heavy investments. Outsourcing IP management helps SMEs and large enterprises in productivity growth, profitability improvement, protecting revenues, and cost reduction. Thus, the growing emphasis of enterprises on protecting innovations and increasing revenues, and streamlining business operations is expected to drive the intellectual property services segment, thereby fueling the market growth over the forecast period.
Browse through Grand View Research’s Network Security Industry Research Reports.
- Cyber Security Services Market: The global cyber security services market size was valued at USD 91.15 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 10.2% from 2021 to 2028.
- Extended Detection And Response Market: The global extended detection and response market size was valued at USD 505.0 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 19.9% from 2021 to 2028.
Market Share Insights
- October 2020: Clarivate, an insights and analytics firm, announced the integration of Darts-ip case law data with Innography IP intelligence and analytics solution to improve strategic decision-making across the intellectual property lifecycle.
- January 2020: Questel confirmed the acquisition of the NRI Cyber Patent in Japan. NRI Cyber Patent is an intellectual asset management and IP business intelligence service and solutions provider. The acquisition enabled Questel to expand its business offerings.
Key Companies profiled:
Some of the prominent players in the global intellectual property management software market include:
- Anaqua Inc.
- Questel
- Gemalto NV
- CPA Global
- Innovation Asset Group Inc.
Order a free sample PDF of the Intellectual Property Management Software Market Intelligence Study, published by Grand View Research.