Global Intellectual Property Software Market Report and Forecast 2024-2032

Global Intellectual Property Software Market Outlook

The global intellectual property software market size is expected to grow at a CAGR of 14.20% during the forecast period of 2024-2032, owing to the increasing adoption of artificial intelligence technology.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Key Trends in the Market

The term ‘intellectual property’ designates a class of property that has been produced by the human mind, including intangible works, art, designs, inventions, and more. Software for managing intellectual property enables individuals and businesses to effectively safeguard and manage their intellectual property. End users are increasingly using intellectual property software In order to preserve and build brands, maintain the privacy and confidentiality of their work, and secure exclusive rights to their inventions. 

• Intellectual property assets support economic growth in a number of ways. Many businesses receive royalties from licencing their IP assets to third parties and can prevent misuse of their copyrighted material with adequate IP software. Therefore, increased focus on managing and protecting intellectual property is anticipated to drive the global intellectual property software market growth throughout the forecast period.

• The development of a digital society depends heavily on the intellectual property system. It is essential to handle issues with security, privacy, and customer protection in order to advance the digital economy. Therefore, it is anticipated that increased development of the digital economy will spur market growth in the near future.

• New technologies also provide a greater application of licences or certificates to prevent duplication of IP assets. Therefore, during the forecast period, such factors are anticipated to fuel the expansion of the global intellectual property software market.

Global Intellectual Property Software Market Analysis

Based on component, the market is segmented into service and software. The market on the basis of deployment mode can be divided into cloud and on-premise. By application, the market is categorised into are patent management, trade management, and licensing. Based on end use, the market is segmented into individual and commercial. On the basis of industry vertical, the market is classified into automotive, technology, BFSI, IT and telecom, and retail and agriculture, among others. The regional markets for intellectual property software can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global intellectual property software market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.  

• Innovation Asset Group, Inc.

• Patrix AB

• Anaqua, Inc.

• WebTMS Ltd.

• Lecorpio LLC

• Others

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Market Share by Deployment Mode

During the forecast period, the cloud segment is anticipated to dominate the intellectual property software market. Due to features including on-demand availability of solutions and services and automatic updates, cloud deployment services are becoming more widely used, which is responsible for the market growth. Additionally, compared to on-premises solutions, cloud services enable people and companies to track apps conveniently by enabling them to do their jobs as simply as possible. 

In on-premise deployment, the internal infrastructure of an organisation is used to install and run the intellectual property software. Additionally, those who file patents can track and manage their applications using the PC software. The on-premise implementation enables internal teams to find and solve system flaws. While on-premise deployment tends to involve higher costs, it is often considered to be more secure and reliable than cloud based deployment. 

Market Share by Region

The market for intellectual property software is expected to be dominated by North America at a regional level. The presence of firms like Anaqua Inc. in the Unites States, and high awareness of intellectual property and its management are contributing to the region's growth. Additionally, the region's growing network of intellectual property offices is contributing to market expansion. 

The major driving factors in the intellectual property software market in North America are the growing emphasis of businesses on intellectual asset protection. The rising demand for effective and efficient management of intellectual properties, as well as a rising number of innovations in the region are also contributing to market growth.

From 2023 to 2027, the market in the Asia Pacific region is projected to grow at a substantial CAGR. The region's market expansion is anticipated to be boosted by the rising number of IT and telecom enterprises, along with different manufacturing facilities in nations like China and India. 

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Competitive Landscape

Innovation Asset Group, Inc., an intellectual property management software and services provider was established in 2002 and has its corporate headquarters in Oregon in the United States. It creates software that makes it easier for businesses focused on innovation to manage their intellectual property and inventions. 

Patrix AB, headquartered in Sweden, is an international intellectual property case management software provider. The company offers quick answers for intellectual property specialists who wish to better control costs, improve profitability, boost production, and keep clients. Its main goal is to save client time and effort in the daily activities of managing all IP issues, increase revenues by recording billable time, accurately bill clients, and improve client relationships. 

Anaqua, Inc., a privately-owned company based in Massachusetts, United States, has offices around Asia and Europe. Companies and legal firms can use their software and services to leverage their intellectual property for competitive advantages. They provide businesses and law firms with tools and services for intellectual asset management to help them manage their patents, trademarks, and trade secrets more effectively and achieve a competitive edge.

Other market players include WebTMS Ltd. and Lecorpio LLC, among others.

Key Highlights of the Report