Dallas/Texas, Oct. 28, 2022 (GLOBE NEWSWIRE) -- The growth of the information and communication technologies (ICT) industry is anticipated to present attractive prospects due to the rising awareness and acceptance of intellectual property management software across emerging economies like China and India. Additionally, growing government measures to develop digital infrastructure and legal framework to monetize and safeguard innovations are also anticipated to support the global intellectual property management software market expansion. Numerous variables, such as the expanding demand for outsourced IP services and the rising number of patent applications or registrations, have a significant impact on the global market for intellectual property management software. Thus, the growing use of intellectual property services in many industries is boosting the global market for these services.
The global intellectual property management software market was estimated at USD 6.55 billion in 2021 and is projected to grow to USD 19.89 billion by 2030, at a CAGR of 16.79%.
Top Market players
- Anaqua, Inc.
- Capgemini SE
- CPA global
- Dependable solutions, Inc.
- FADEL
- Filmtrack, Inc.
- Flowhaven Oy
- IBM corporation
- Ingenta
The creations of the human intellect, such as patents, designs, logos, innovations, symbols, names, and many more utilized in business or commerce, are considered to be intellectual property. These resources, which are necessary to preserve any brand and competitive edge, are protected by intellectual property rights. Intellectual property gives brands their own character and sets them apart from competitors, such as distinctive designs, patents, symbols, etc. To prevent the copying of content and goods, numerous intellectual property technology solutions are being created. The market's demand for intellectual property management software is now being driven by the rise in unlawful and unauthorized sales of tangible and intangible assets.
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Intellectual property is more than simply a collection of legal rights that should solely concern lawyers; it is also primarily a collection of valuable business assets that give organizations a competitive edge. This covers commercial secrets, patents, and copyrights. IP management, organization, and evaluation become crucial because it is the source of value. Managing all prospective intellectual property assets is crucial for maintaining a competitive advantage as the business expands.
Intellectual property management software Market Segmentation
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According to the component, the market was dominated by software in 2021, accounting for the biggest revenue share. A lot of industries, including BFSI, technology, automotive, IT and telecom healthcare, and jewelry, are using intellectual property management software more frequently, which may be the cause of the market's growth. To apply for and administer their intellectual property rights, several industries make substantial use of the programme.
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Owing to the availability of countries such as the United States and Canada, North America is predicted to have the biggest market share. Outsourcing and offshore have been common business strategies in developed countries, and the region's use of new technologies has bolstered the sector. The region's key market is the management of capacity challenges caused by labor layoffs. As a result, the North American market for global IP outsourcing services is expected to develop dramatically.
Regional Overview, 2019-2029 (USD Billion)
North America
- U.S
- Canada
Europe
- Germany
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
South America
- Mexico
- Brazil
- Rest of South America
The Middle East and South Africa
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As an illustration, CPA Global revealed its customer-focused strategy to improve IP outcomes via better data-enabled IP decision-making and enhanced IP productivity across the sector in November 2019. Software and tech-enabled services are CPA global's two main business areas following the purchase of ipan/Delegate Group.
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