Intellectual Property Management Software Market Expected to Reach $18.54 Billion in Revenue by 2027 – Exclusive Report by Mordor Intelligence
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The Asia-Pacific region is expected to witness the highest growth rate in the intellectual property management software market. According to CEO of Tech Mahindra, the pandemic has increased the rate of technology adoption since IT industries have gone virtual. As a result, cloud-based digital solutions will enhance agility, empower hybrid workspaces and facilitate intellectual property (IP) driven innovation for India’s ITeS sector which has been at the forefront of digital and business transformation.
Intellectual Property Management Software Market Overview
Global Intellectual Property Management Software Market was valued at USD 6.97 Billion in 2021, and it is projected to reach a value of USD 18.54 Billion by 2027, registering a CAGR of 17.27% over the period forecast (2022-2027). The gradual increase in the adoption of outsourcing services by large enterprises is contributing significantly to the growth of the IP management software market.
Patent intellectual property management has seen a significant shift towards digitization in recent years. In 2021, the number of patent filings has increased significantly. For example, according to a Japan Patent Office report published in August 2021, NTT was the top company based on the number of AI-related patent applications in Japan, with 788 national patent applications for which publication of the patent had been published in May 2021. NTT was followed by other major Japanese companies, such as Fujitsu, Hitachi and Canon.
Key Highlights of the Intellectual Property Management Software Market
- In a report published in February 2022, international patent applications filed through WIPO’s Patent Cooperation Treaty (PCT), which is one of the widely used indicators for measuring innovative activity, increased by 0.9% in 2021 to reach 277,500 requests. Asia showed its lead as the main source of international patent applications, accounting for 54.1% of all applications in 2021, up from 38.5% in 2011.
- Additionally, for the fourth consecutive year, Chinese telecommunications giant Huawei Technologies, with 6,952 published PCT applications, was the top filer in 2021. It was followed by Qualcomm Inc. of the United States (3,931), Samsung Electronics of the Republic of Korea (3,041), LG Electronics Inc. of the Republic of Korea (2,885) and Mitsubishi Electric Corp. Japan (2,673). Qualcomm Inc. had the fastest growth (+80.9%) in the number of applications published in 2021, and as a result, it rose from fifth position in 2020 to second place in 2021. digital communications by Qualcomm nearly doubled – from 1,486 in 2020 to 2,951 in 2021 – helping to drive strong overall growth.
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Intellectual Property Management Software Market – Geographic Overview
According to the World Intellectual Property Indicators (WIPO), Asia has shown its lead as the main source of international patent applications, accounting for 54.1% of all applications in 2021, up from 38.5% in 2011, with China driving the overall growth in demand for intellectual property. property rights (IP). Of the top five PCT applicants at WIPO in 2021, four were from the Asia-Pacific region. Chinese telecommunications giant Huawei Technologies, with 6,952 published PCT applications, was the top filer in 2021, followed by Qualcomm Inc. from the United States (3,931), Samsung Electronics from the Republic of Korea (3,041), LG Electronics Inc. of the Republic of Korea (2,885) and Mitsubishi Electric Corp. Japan (2,673).
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Recent Developments in the Intellectual Property Management Software Market
- March 2022 – PatSnap, a global leader in innovation intelligence, and Evalueserve, a leading provider of product-centric solutions that accelerate decision-making, announced a partnership to deliver a innovation-centric intelligence solution decision based on research and analysis of patents and scientific literature.
- December 2021 – Clarivate PLC (NYSE: CLVT) has completed its acquisition of ProQuest, a leading global provider of software, content, data and analytics.
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List of Key Players of Intellectual Property Management Software Market
- Anaqua inc.
- CPL Clarivate
- WebTMS Limited
- TM Cloud Inc.
- Patrick AB
- Patsnap Pte. ltd.
- Alt Legal Inc.
- Gridlogics Technologies Pvt. ltd.
- AppColl Inc.
Mordor Intelligence has segmented the Intellectual Property Management Software market on the basis of deployment, type, solution, end-user industry, and geography:
- Deployment (Market Size & Value Based Forecast (USD Billion), 2020-2027)
- Type (Market Size & Value Based Forecast (USD Billion), 2020-2027)
- Patent intellectual property management,
- Trademark intellectual property management
- Copyright Intellectual Property Management
- Design Intellectual property management
- Other types
- Solution (Market Size & Value Based Forecast (USD Billion), 2020-2027)
- End User Industry (Market Size & Value Based Forecast (USD Billion), 2020-2027)
- Health care
- IT and Telecom
- Research institutes
- Other end user industries
- Geography (market size and value-based forecast (USD billion), 2020-2027)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
About Mordor Intelligence
Mordor Intelligence is a business information and consulting company. Our mission is to map complex business ecosystems around the world to better predict butterfly effects. To date, we’ve partnered with more than 4,000 companies across 20 industries, delivering accurate data and actionable insights across more than 6,000 projects. Our teams of domain-specific research experts continuously monitor the markets, enabling our clients to gain a competitive edge through high-quality market intelligence.
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