Global Patent Analytics Market Report and Forecast 2024-2032

Global Patent Analytics Market Outlook

The global patent analytics market would likely grow at a CAGR of 12.4% during 2024-2032. Patent analytics refers to a detailed examination of patent information to establish patterns and correlations among and between inventors, industries, leading technologies, and geographical distributions, and identify gaps and trends.

In business, patent analytics and mapping may help offer a strong basis to make intelligent and informed business decisions related to evaluating opportunities, challenges and risks. Increasing number of patent applications due to businesses seeking protection for their inventions is likely to boost market growth. Asia, North America and Europe are likely to be key markets. 

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Market Growth Likely to be Driven by Advantages Afforded by Patent Analytics

Patent analytics is a systematic process involving mapping of information derived from a group of patents into different categories. It may involve qualitative, quantitative or a combination of both types of analyses of patents filed by others to gain intelligence on competitors, technology, company valuation, market trends, and novel commercial opportunities.

Patent analytics is considered a tool for growth and strategy; patents are a valuable asset for any tech start-up. Filing a patent is seen as a strategic business measure as it offers a monopoly in the market, helps produce revenue through licensing, and may at times help forge valued business alliances. Further, patents filed by others may offer rich pieces of information, and reveal info like name of the patent owner and jurisdiction, and technology related details like use(s) of the invention, technological attributes, and problem resolved by the invention, among others. Clearly, patent analytics, detailed study of patents filed by others, could play an important role in strategic planning and intelligent decision-making. Such advantages afforded by patent analytics are expected to boost the global patent analytics market. Important applications of patent analytics include technology intelligence, strategic and competitive intelligence, business development, and financial analysis and reporting. 

Global Market Likely to be Driven by Rising Number of Patents being Filed

Increasing number of patent applications due to businesses seeking protection for their inventions is likely to boost market growth. While concerns towards how technology impacts the environment and society are increasing, Internet of Things and technical advancements in the industry are changing the nature, and increasing the intricacy and complexity of the subject shaping the foundation of patent applications.   

Emerging Economies Likely to Significantly Impact Patent Data and Influence Market Growth

Increasing entrepreneurial efforts and development of innovative solutions in emerging economies are significantly changing the nature, volume and attributes of patent data. Further, advanced technologies like machine learning, AI, deep learning, Big Data, cloud computing, data and text mining, etc. are changing patent analytics and significantly affect the global patent analytics market.

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Market Segmentation

By component, the market is divided into:

• Services

• Solution

By enterprise size, the market is classified into:

• Large Scale Enterprises

• SMEs

By end use, the market is divided into:

• IT and Telecommunication

• Healthcare

• Banking, Financial Services and Insurance (BFSI)

• Automotive

• Media and Entertainment

• Food and Beverages

• Others

By region, the market is classified into:

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

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Key Industry Players in the Market

The report offers an extensive assessment of major players in the global patent analytics market; it evaluates their capability, observes latest occurrences such as mergers and acquisitions, capacity expansions, and plant turnarounds:

• Anaqua, Inc.

• Clarivate Plc

• LexisNexis

• Harrity and Harrity LLP

• Ocean Tomo, LLC

• Minesoft Limited

• Others

Using SWOT analysis and Porter’s Five Forces model, the EMR report offers deep insights into the industry.

Key Highlights of the Report