Global Intellectual Property Management Software Market

Global Intellectual Property Management Software Market Size, Share, Growth Analysis, By Component(Service, Software), By Deployment(On-premise, Cloud), By End Use(Individual, Commercial) - Industry Forecast 2024-2031

Report ID: SQSG45E2028 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 87 | Figures: 75

Global Intellectual Property Management Software Market News

  • In Aug 2022, Clarivate Plc, a global leader in providing trusted information and insights to accelerate the pace of innovation, has been selected by The National Library Board of Singapore (NLB) to provide library software solutions from Innovative, part of Clarivate, to support NLB’s Libraries and Archives Blueprint 2025 (LAB25).
  • In June 2022, Anaqua, the leading global innovation and intellectual property (IP) management technology provider, has entered into a definitive agreement to acquire Practice Insight Pty Ltd, and its intelligent time capture software WiseTime, from IPH Limited.
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Global Intellectual Property Management Software Market was valued at USD 6.54 billion in 2019, and USD 7.57 billion in 2019 and it is expected to reach a value of USD 24.41 billion by 2031, at a CAGR of more than 15.76% over the forecast period (2024-2031).

The global intellectual property management software market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Innovation asset group Inc.', 'IPfolio', 'Patrix AB', 'Anaqua, Inc.', 'Clarivate Plc', 'CPA Global Ltd.', 'Dennemeyer Group', 'FlexTrac', 'Gridlogics Technologies Pvt Ltd.', 'Inteum Company, LLC', 'IPlytics GmbH', 'IPMS Pty Ltd.', 'IPzen', 'LexisNexis IP Solutions', 'Minesoft Ltd.', 'Questel Group', 'Thomson Reuters', 'VajraSoft Inc.', 'XLPAT'

Cloud-based IP solutions are in high demand across businesses for supporting and safeguarding IP assets. The cloud is in high demand because it provides superior flexibility and value compared to a locally deployed intellectual property management solution. In order to manage analytics and decision-support systems, cloud-based solutions also make it possible to integrate intellectual property data with other company data, such as R&D, tax, and sales. Additionally, it offers system-wide automated improvements that don't need any hardware assurance. As an illustration, Anaqua, Inc. provides the cloud-based IP management platform "ANAQUA8," which unifies workflow, docketing, email management, collaboration, and document management into one system.

The global intellectual property software market is anticipated to grow over the course of the forecast period as awareness of managing and protecting intellectual property increases. Many private organisations now place a high priority on protecting and managing intellectual property, particularly in fields like the arts, culture, and technology. Enterprises can better understand the potential of intellectual property as a driver of economic development and cultural and social advancement with the aid of effective and equitable intellectual property software. Moreover, since many businesses receive royalties from licencing their IP assets to third parties, intellectual property assets support economic growth in a number of ways. Therefore, increased focus on managing and protecting intellectual property is anticipated to support market growth in the near future.

North America is expected to control the intellectual property management software market share. North America dominated the market, accounting for more than 40% of worldwide sales in 2021. The region's rise can be ascribed to end-users' strong knowledge of intellectual property and its management, a large number of internet users in the United States and Canada, and the presence of businesses such as Anaqua Inc., CPA Global, and Questel in the United States. Furthermore, the region's large majority of intellectual property offices is helping market growth. According to WIPO data, intellectual property offices in North America accounted for more than one-fifth of all IP offices worldwide in 2019.

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