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Market Insight- Global Intellectual Property Software Market

Market Overview

Intellectual property refers to a category of property that encompasses intangible creations of the human intellect. Intellectual property software allows users and organizations to efficiently protect and manage their intellectual properties. There are different types of intellectual properties and some countries recognize more than others. Intellectual property software is being increasingly adopted by end users to protect and develop a brand, keep their work confidential and private, and protect exclusive tenure of their creations, in order to gain advantage in the competitive market. Intellectual property rights enable the Ministry of Micro, Small and Medium Enterprises (SMEs) to have exceptionality over the exploitation of their creative designs, and their innovative original or new products, and brands.

The global intellectual property software market is estimated to account for US$ 3,015.2 Mn in terms of value in 2019 and is expected to grow at a CAGR of 14.3% during the forecasted period 2019-27.

Market Dynamics- Drivers

  1. Rising focus on managing and protecting intellectual property is expected to drive growth of the global intellectual property software market during the forecast period

The protection and management of the intellectual property have become a top priority for many private organizations, especially in applications such as artistic, cultural, and technology industries. An efficient and equitable intellectual property software can help enterprises understand potential of intellectual property as a catalyst for cultural and social well-being and economic development. Moreover, intellectual property assets drive economic development in several ways, since many companies gain royalty incomes from licensing their IP assets to other parties. Thus, rising emphasis on protection and management of intellectual property is expected to support the market growth in the near future.

  1. Increasing adoption of IP in digital economy and growth of new business models is expected to propel the global intellectual property software market over the forecast period

The intellectual property system plays a crucial role in the expansion of the digital society. Security, privacy, customer protection, and intellectual property are key factors that need to be addressed in order to promote digital economy. Hence, increase in adoption of IP in the digital economy is expected to boost expansion of the market in the near future. Furthermore, business models are related to technological innovation. The enforcement of intellectual property rights can underpin the sustainability, rise, and growth of new business models. Moreover, new technologies ensure stronger implementation of licenses or certificates to protect IP assets from duplications. Thus, these factors are expected to propel the global intellectual property software market growth during the forecast period.

North America region dominated the global intellectual property software market in 2019, accounting for 34.1% share in terms of value, followed by Europe and Asia Pacific, respectively.

Intellectual Property Software  | Coherent Market Insights

Source: Coherent Market Insights

Market Dynamics- Restraints

  1. Low awareness regarding IP systems is expected to hamper the global intellectual property software market growth during the forecast period

Low awareness related to IP systems and their usefulness is the major restricting factor for the market growth. Consumers are less aware of the fact that intellectual property software provides a number of benefits apart from protection and management of intellectual property assets. Moreover, this lack of awareness is highly prevalent in emerging economies such as MEA and Latin America. Thus, these factors are expected to hamper growth of the market during the forecast period.

  1. High costs and complexity related IP system are expected to restrain growth of the global intellectual property software market over the forecast period

The major challenge in large scale adoption of intellectual property software is the perceived high cost of the system. This is owing to costs related to acquisitions of IP rights. Moreover, complexity or ineffectiveness of the intellectual property systems, particularly in terms of implementation of patent rights is another factor hampering the growth of the market. As a result of this, many small and medium-sized companies are reluctant to adopt these technologies. According to the General Accounting Office (GAO) report, small industries, primarily high technology organizations, were losing possible deals in overseas markets by not applying for patent protection abroad. This is primarily due to the limited knowledge, high costs, and limited resources among small and medium businesses (SMBs) about foreign patent systems and laws.

Market Opportunities

  1. Rampant development of information and communication technologies can provide significant growth opportunities

Intellectual property plays a major role in the development of information and communication technology (ICT). ICT provides industry players to reach out to markets at a lower cost in a significantly short period. Moreover, it is critical for SMEs to use IP systems, they are taking advantage of ICT. An integration of intellectual property protection and information and communication technologies is expected to improve the competitiveness of SMEs in the market. For instance, various enterprises are planning to design new products with different services to meet the diversified requirements of customers in the market. Therefore, with the availability of such technology, SMEs are adopting IP systems to protect their tangible and intangible assets to remain competitive and manage their customers in the market.

  1. Rising adoption of IP for economic development in emerging economies can offer major business opportunities

Intellectual property assets have witnessed significant importance in the market, owing to major shift towards technology-based rivalry and beginning of a knowledge-based economy in the international markets. Emerging economies such as Middle East & Africa, Asia Pacific, and Latin America are expected to boost the demand for intellectual property software in the market. Currently, these countries are focused on adoption of new technologies for economic development. For instance, India, Russia, Brazil, and China are accommodating their national systems of the invention with international intellectual property (IP) management. Henceforth, the increasing adoption of the agreement on Trade-related Aspects of Intellectual Property Rights (TRIPS) by these economies is anticipated to maximize worldwide economic welfare in forthcoming years.

Intellectual Property Software  | Coherent Market Insights

Source: Coherent Market Insights

In global intellectual property software market, by application segment patent management sub-segment dominated the global intellectual property software market in 2019, accounting for 21.6% share in terms of value, followed by trademark management and intellectual property (IP) licensing.

Intellectual Property Software  | Coherent Market Insights

Source: Coherent Market Insights

Market Trends

  1. Trends by components

Rising penetration of cloud-based intellectual property solutions

Cloud-based IP solutions are witnessing significant demand to support and protect IP assets across industries. Since the cloud offers excellent flexibility and value over a locally-installed intellectual property management system, it is witnessing high demand. Furthermore, cloud-based solutions enable integration of intellectual property data with other business data such as R&D, tax, and sales, in order to control analytics and decision-support systems. It also provides automated advancements throughout the systems, which do not require any hardware assurance. For instance, Anaqua, Inc. offers a cloud-based IP management platform ‘ANAQUA8’, which brings workflow, docketing, email management, collaboration, and document management into a unified system.

  1. Trends by Applications

Developing innovation process and markets for technology

Policy improvements are necessitated to reinforce innovation and production outcomes. Reforming the business environment for modernization and innovation is crucial, as the business is the key driver of modernization. This, in turn, is expected to boost the demand for intellectual property software in the near future. Moreover, rampant developments in new technologies and globalization have strengthened the importance of innovation. Therefore, as the number of potential players has increased specifically due to globalization, industries have been demanding enhanced legal protection, including patents.

Regulations

  • Currently, designers, inventors, authors, and developers are adopting IP rights such as patents and trademarks to safeguard the designs they have developed. Governments of countries enact various policies and regulations to control the unauthorized usage of IP assets.
  • At the national level, the State Intellectual Property Office (SIPO) is responsible for granting patents for national offices and local SIPO offices. Additionally, the SIPO is responsible for listing semiconductor layout designs (national office) and organizing national foreign-related intellectual property rights issues (including trademarks and patents).

Competitive Section

Key players operating in the global intellectual property software market are XLPAT, IP Checkups, Inc., Aistemos, Wellspring Worldwide, Ambercite, VajraSoft Inc., Anaqua, Inc., TORViC Technologies, Inc., Clarivate Analytics, Questel, Dennemeyer, PatSnap Pte. Ltd., Evalueserve Netherlands B.V., Patrix AB, Gemalto NV, O P Solutions, Inc., Gridlogics, Minesoft Ltd, Innography, Inc., LexisNexis, Innovation Asset Group, Inc., IPfolio, Inteum Company, LLC, IP Street Holdings, LLC, and Iolite Softwares Inc.

Key Developments

  1. Major companies in the market are focused on business expansion, in order to enhance the market presence. For instance, in January 2017, Dennemeyer Group inaugurated its new local office in Moscow. This office would support the company’s existing customers to safeguard their intellectual property rights in the Russian Federation and Eurasia and help start Dennemeyer & Associates as law and regulation firm of high-quality for local companies.
  2. Key players in the market are involved in partnerships and collaborations, in order to gain a competitive advantage in the market. For instance, in March 2017, Gridlogics Technologies Pvt. Ltd. entered into a partnership with ProQuest Dialog based in North Carolina, the U.S. Under this partnership, ProQuest Dialog clients access to PatSeer, Gridlogics' web-based platform, where the clients can quest 42 full-text patent authorities and operate results with visualization tools and powerful analytics.
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Intellectual property refers to a category of property that encompasses intangible creations of the human intellect. Intellectual property software allows users and organizations to efficiently protect and manage their intellectual properties. When software or a product is treated as intellectual property, its owner has more control over who can use it or how it gets to the public. There are four types of intellectual property rights relevant to the software including trade secrets, trademarks, copyrights, and patents. Trade secrets, patents, and copyrights can protect the software, while trademarks do not protect the software. However, it is used to distinguish the symbol and names of used software.

Market Dynamics

Increasing adoption of IP in digital economy and growth of new business models is expected to drive the market positively. As the intellectual property system plays a crucial role in the expansion of the digital society. Security, privacy, customer protection, and intellectual property are key factors that need to be addressed in order to promote digital economy. Hence, increase in adoption of IP in the digital economy is expected to boost expansion of the market in the near future. Furthermore, business models are related to technological innovation. Moreover, Intellectual property assets have witnessed significant importance in the market, owing to major shift towards technology-based rivalry and beginning of a knowledge-based economy in the international markets. Emerging economies such as Middle East & Africa, Asia Pacific, and Latin America are expected to boost the demand for intellectual property software in the market.

Market Taxonomy

This report segments the global intellectual property software market on the basis component Software (Cloud-based and On Premise) and Services (Development &Implementation Services, Consulting Services and Maintenance & Support Services). On the basis of application Patent Management, Trademark Management, Intellectual Property (IP) Portfolio Management, Intellectual Property (IP) Licensing, Intellectual Property (IP) Reporting & Analytics and Others. On the basis of end-use industry Individuals (independent Inventors), and Enterprises (Banking, Financial Institutions, and Insurance (BFSI), Government, Healthcare, IT & Telecommunication, Electronics, Manufacturing and Others) and by Geography North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.

Key features of the study:

  • This report provides an in-depth analysis of the global intellectual property software market and provides market size (US$ Million) and Compound Annual Growth Rate (CAGR %) for the forecast period (2019 – 2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global intellectual property software market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key players operating in the global intellectual property software market are XLPAT, IP Checkups, Inc., Aistemos, Wellspring Worldwide, Ambercite, VajraSoft Inc., Anaqua, Inc., TORViC Technologies, Inc., Clarivate Analytics, Questel, Dennemeyer, PatSnap Pte. Ltd., Evalueserve Netherlands B.V., Patrix AB, Gemalto NV, O P Solutions, Inc., Gridlogics, Minesoft Ltd, Innography, Inc., LexisNexis, Innovation Asset Group, Inc., IPfolio, Inteum Company, LLC, IP Street Holdings, LLC, and Iolite Softwares Inc.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up-gradation, market expansion, and marketing tactics
  • The global intellectual property software market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts.
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global intellectual property software market.

Detailed Segmentation:

  • Global Intellectual Property Software Market, By Component:
    • Software
      • Cloud-based
      • On Premise
    • Services
      • Development &Implementation Services
      • Consulting Services
      • Maintenance & Support Services
  • Global Intellectual Property Software Market, By Application:
    • Patent Management
    • Trademark Management
    • Intellectual Property (IP) Portfolio Management
    • Intellectual Property (IP) Licensing
    • Intellectual Property (IP) Reporting & Analytics
    • Others
  • Global Intellectual Property Software Market, By End-use Industry:
    • Individuals (independent Inventors)
    • Enterprises
      • Banking, Financial Institutions, and Insurance (BFSI)
      • Government
      • Healthcare
      • IT & Telecommunication
      • Electronics
      • Manufacturing
      • Others
  • Global Intellectual Property Software Market, By Geography:
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East and Africa
  • Company Profiles
    • XLPAT *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • IP Checkups, Inc.
    • Aistemos
    • Wellspring Worldwide
    • Ambercite
    • VajraSoft Inc.
    • Anaqua, Inc.
    • TORViC Technologies, Inc.
    • Clarivate Analytics
    • Questel
    • Dennemeyer
    • PatSnap Pte. Ltd.
    • Evalueserve Netherlands B.V.
    • Patrix AB
    • Gemalto NV
    • O P Solutions, Inc.
    • Gridlogic
    • Minesoft Ltd
    • Innography, Inc.
    • LexisNexis
    • Innovation Asset Group, Inc.
    • IPfolio
    • Inteum Company, LLC
    • IP Street Holdings, LLC
    • Iolite Softwares Inc.

*Browse all the market data tables and figures on "Global Intellectual Property Software Market - Forecast to 2027”

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Component
      • Market Snippet, By Application
      • Market Snippet, By End-use Industry
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Merger and Acquisitions
      • New system Launch/Approvals
      • Value Chain Analysis
      • Porter’s Analysis
      • PEST Analysis
  4. Global Intellectual Property Software Market, By Component, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Software
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
        • Cloud-based
        • On Premise
    • Services
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
        • Development & Implementation Services
        • Consulting Services
        • Maintenance & Support Services
  5. Global Intellectual Property Software Market, By Application, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Patent Management
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Trademark Management
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Intellectual Property (IP) Portfolio Management
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Intellectual Property (IP) Licensing
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Intellectual Property (IP) Reporting & Analytics
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  6. Global Intellectual Property Software Market, By End-use Industry, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Individuals (independent Inventors)
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Enterprises
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
        • Banking, Financial Institutions, and Insurance (BFSI)
        • Government
        • Healthcare
        • IT & Telecommunication
        • Electronics
        • Manufacturing
        • Others
  7. Global Intellectual Property Software Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Component, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-use Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Component, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-use Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Component, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-use Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Component, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-use Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Component, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-use Industry, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Israel
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  8. Competitive Landscape
    • Company Profiles
      • XLPAT
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • IP Checkups
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Aistemos
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Wellspring Worldwide
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Ambercite
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • VajraSoft Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Anaqua, Inc
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • TORViC Technologies, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Clarivate Analytics
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Questel
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Dennemeyer
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • PatSnap Pte. Ltd
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Evalueserve Netherlands B.V.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Patrix AB
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
    • Analyst Views
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse market data tables and figures on "Intellectual Property Software Market - Global forecast to 2027”.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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