IP Management Software Market Size, Demand, Analysis, Forecast 2031

(MENAFN- Straits Research) Introduction

Intellectual property (IP) management software is an application businesses and law firms use to manage and protect intellectual property such as trademarks, licenses, inventions, patents, copyrights, royalties, and brands. It enables the automation of forms and correspondence for new and existing intellectual property ownership and the tracking of cases of infringement and potential legal rights violations that may result in subsequent prosecution. It also facilitates the preparation and execution of intellectual property filings, such as patent applications, trademark rights acquisition, and litigation.

Market Dynamics Growing Patent and Trademark Applications Drive the Global Market

The market's increasing reliance on various patents to produce a product and improve its functionality is compelling businesses to improve their IP management. Therefore, there has been a substantial increase in patent applications worldwide in recent years. Similarly, according to the Federal Service for Intellectual Property (Rospatent), the number of trademark applications filed in Russia increased by approximately 7.3% between 2019 and 2020 (93,926 applications filed in 2020 and 87,509 in 2019). Moreover, patents contribute significantly to the revenue of numerous industries. According to Mondaq, in 2021, the EPO received 188,600 patent applications worldwide in 2020, a 4.5% increase from the year prior. Such advancements increase the significance of IP management software solutions, thereby driving market expansion.

Surging Focus on Digitalization Creates Tremendous Opportunities

With a growing emphasis on digitalization, the market is anticipated to expand during the forecast period. For instance, India announced in February 2020 its intention to establish a digital platform for the application and capture of intellectual property rights. The National IP Policy is the most recent development in India's intellectual property rights infrastructure over the past few years. A stronger IPR will result in an environment more conducive to business. India invests in its innovation and startup ecosystem by creating a digital platform for application submission simplification, technology transfer centers, and prototyping/proof-of-concept facilities. This is anticipated to present substantial market expansion opportunities.

Regional Analysis

Asia-Pacific is the most significant global IP management software market shareholder and is anticipated to exhibit a CAGR of 19.94% during the forecast period. According to the World Intellectual Property Indicators (WIPO), Asia demonstrated its dominance as the leading source of international patent applications, accounting for 54.1% of all applications in 2021, up from 38.1% in 2011, with China driving the overall increase in demand for intellectual property (IP) rights. In addition, as the region's demand for IP management rises, the market is undergoing significant mergers and expansions aimed at expanding its brand recognition and consumer base. For instance, in March 2022, MaxVal Group Inc. ("MaxVal"), the leading provider of comprehensive intellectual property solutions, opened a new office in Noida. Following the establishment of facilities in Bengaluru, Chennai, and Coimbatore, Noida marks the fourth location for the company's operations in India. The new office will accommodate over a hundred workers.

Additionally, the region has witnessed increased government efforts to promote international patent filing. For example, the patent offices of India and Japan inked an expedited grant of patents to Indian entities and individuals. Recently, the Union Cabinet approved a Bilateral Patent Prosecution Highway (PPH) program between the Indian Patent Office and patent offices in other countries. These aspects contribute to the growth of the regional market.

Key Highlights

• The global IP management software market was valued at USD 8.15 billion in 2022. It is estimated to reach USD 33.66 billion by 2031, growing at a CAGR of 17.07% during the forecast period (2023–2031).
• Based on deployment, the global IP management software market is segmented into on-premise and cloud segments.
  The cloud segment owns the highest market share and is estimated to exhibit a CAGR of 19.12% during the forecast period.
• Based on the solution, the global IP management software market is bifurcated into software and services.
  The software segment dominates the global market share and is projected to exhibit a CAGR of 18.13% over the forecast period.
• Based on type, the global IP management software market is divided into patent intellectual property management, trademark intellectual property management, copyright intellectual property management, design intellectual property management, and other types.
  The patent intellectual property management segment is the largest revenue contributor and is expected to exhibit a CAGR of 18.46% throughout the forecast period.
• Based on the end-user industry, the global IP management software market is divided into BFSI, healthcare, automotive, IT and Telecom, research institutes, and other end-user industries.
  The IT and Telecom segment owns the highest market share and is expected to exhibit a CAGR of 18.82% throughout the forecast period.
• Asia-Pacific is the most significant global IP management software market shareholder and is anticipated to exhibit a CAGR of 19.94% during the forecast period.

Competitive Players

Anaqua Inc.

Clarivate PLC

WebTMS Limited

DoketTrak

TM Cloud Inc.

Patrix AB

Alt Legal Inc.

Patsnap Pte Ltd.

Gridlogics Technologies Pvt. Ltd.

AppColl Inc.

Recent Developments

Recent Developments

• June 2024 - The IP Collaboration Hub was introduced by Clarivate Plc at the 2024 Clarivate Ignite conference in San Diego. The central hub for collaboration with local agents globally is provided by this new solution, which integrates with Clarivate's IP management systems (IPMS). It is designed to optimize the submission and prosecution of intellectual property by standardizing and automating communication management.
• April 2024 - Anaqua , the premier provider of intellectual property (IP) management technology and innovation for corporations, law firms, and governments, has announced progress in its Foreign Filing offering, which has expanded the capabilities of its IP management platform, AQX.
  

Segmentation

By Deployment

On-Premise

Cloud

By Solution

Software

Service

By Type

Patent Intellectual Property Management

Trademark Intellectual Property Management

Copyright Intellectual Property Management

Design Intellectual Property Management

Other Types

By End-User Industry

BFSI

Healthcare

Automotive

IT and Telecom

Research Institutes

Other end-user industries

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