The worldwide corporate intellectual property software market is growing as companies place a greater emphasis on safeguarding and managing their intellectual property portfolios.
The intellectual property software market with an estimated CAGR of 12.7% during the projected period, the share is expected to reach US$ 14.9 billion by 2032, finds a recent report published by FMI. The intellectual property software market is projected to be valued at US$ 4.5 Billion in 2022. The study finds that unauthorized public usage may hurt a company’s financial line, as well as its entire business plan, which leads to this rising demand, reflecting the adoption of intellectual property software.
Sales of intellectual property software are expected to rise significantly. In addition to this, sales of intellectual property software are rising on account for US$ 7.7 Billion by 2026. Increasing sales of intellectual property software are also projected to contribute to the growth of the intellectual property software market share.
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To gain a competitive advantage, effective intellectual property software tools are required in the market. Companies are being influenced by the extremely competitive business climate to invest in technology that ensures businesses and sales of intellectual property software policies are strictly matched to ensure the smooth operation of the organisation.
Enterprise management of intellectual property software is gaining popularity throughout the world as businesses realise that unauthorised public use can harm not just the company’s overall bottom line but also its whole business strategy.
The intellectual property software industry is growing due to an increase in application and understanding of intellectual property rights among end-users. The expansion in the intellectual property software industry is fueled by an increase in demand for a secure and well-documented system inside a company.
However, problems such as the difficulty of maintaining software and the high cost of investment, as well as a low rate of awareness and data security, are impeding the intellectual property software market growth.
Furthermore, advancements in information and communication technology, as well as increased awareness and acceptance of intellectual property software in emerging nations like India, are expected to provide significant market potential.
Component, deployment, end-user, application, and geography are all used to segment the intellectual property software industry. The market is divided into two components: software and service. The market is divided into cloud and on-premise deployment modes. The market is divided into two types of end-users: individual and commercial.
BFSI, IT and telecom, automotive, education, retail and agriculture, healthcare, and others are sub-segments of the commercial segment. The intellectual property software industry is divided into patent management, trade management, licensing, and other applications. It is divided into four regions: North America, Europe, Asia Pacific, Latin America, and the Caribbean.
Manufacturers in the intellectual property software market get a big platform from which to serve the whole demand for intellectual property software. The worldwide sales of intellectual property software are seeing increased competition. With growing competition, new competitors are offering a variety of options at reasonable pricing, fulfilling the demand for intellectual property software more accessible to customers.
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Key Takeaways:
Competitive Landscape
Anaqua, Inc., Patrix AB, IPfolio, SimpleLegal, Pattsy, FlexTrac, Lecorpio, WebTMS, and CPA Worldwide are some of the prominent players in the global intellectual property management software industry (Patrafee).
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Key Segments
By Component:
By Application:
By End-use:
By Region:
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jun 08, 2023