Dublin, Aug. 30, 2023 (GLOBE NEWSWIRE) -- The "Global Intellectual Property Software Market, By Component; By Deployment Type; By End User - Estimation & Forecast, 2017-2030" report has been added to ResearchAndMarkets.com's offering.
The global Intellectual Property (IP) Software market is experiencing significant growth, with projections indicating a continuous upward trend from 2023 to 2030.
The market, valued at US$ 7,016.3 Mn in 2022, is forecasted to reach US$ 22,658.5 Mn by 2030, with a Compound Annual Growth Rate (CAGR) of 16.86%. IP Software plays a crucial role in facilitating the effective management of patents, trademarks, copyrights, and licensing in the digital industry.
Growth Influencers:
The growth of the global Intellectual Property Software market is driven by various factors. One major factor is the increasing awareness of Intellectual Property Rights among businesses and individual creators. This awareness has led to a higher demand for robust IP management tools, directly boosting the demand for IP Software. This software not only enables efficient tracking and management of IP assets but also provides strategic insights that can confer a competitive advantage, further driving its demand.
The rapid expansion of the digital domain is another key driver of market growth. As industries continue to embrace digitalization, the importance of IP rights has become more prominent. Technologies like blockchain and artificial intelligence have revolutionized IP management, opening new avenues for growth in the IP software market.
Additionally, the emphasis on research & development across sectors, especially in technology-intensive industries like life sciences, healthcare, and IT & Telecommunication, contributes significantly to market growth. These sectors continuously produce various intellectual properties that require meticulous management, promoting the use of IP software.
However, the market also faces some challenges. The complexity of maintaining and updating the software can be a deterrent for many users. Moreover, the high initial costs and technical expertise required for implementing advanced IP software systems might pose challenges for small and medium-sized enterprises.
Given these drivers and restraints, the global IP Software market offers substantial growth potential and opportunities for both existing players and new entrants.
Segment Overview:
The market is segmented based on Component, Deployment Type, and End User.
By Component:
- Software (Patent Management, Trademark Management, Copyright Management, Licensing)
- Service (Data Validation and Portfolio Onboarding, Docketing and Administrative Services, Foreign Filling Services, Maintenance Fee Services, Patent Search Services)
The Services segment is expanding at a CAGR of 16.96%, covering areas such as patent, trademark, and copyright management.
By Deployment Type:
- On-premises
- Cloud
By End User:
- Academia
- Corporate
- Government
- Legal Services
- Life Sciences & Healthcare
- IT & Telecommunication
- BFSI
- Automotive
- Aerospace & Defense
- Others
Industries like Academia and IT & Telecommunication exhibit significant growth potential.
Regional Overview:
The market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa (MEA).
North America dominates the market, with over 35% market share and revenue of US$ 2,484.3 Mn in 2022. However, the Asia Pacific region, with a CAGR surpassing 16%, is emerging as a significant player. Europe, particularly Western Europe, shows potential due to its well-established legal and corporate framework. Emerging economies in South America and MEA are also expected to contribute to growth through increasing digitalization and adoption of cloud-based solutions.
Report Insights:
- Comprehensive analysis of growth drivers and restraints
- Detailed evaluation of market segments and their potential
- Extensive regional overview and analysis of growth trends
- In-depth competitive landscape analysis and strategic initiatives
Key Questions:
- What is the projected growth of the global Intellectual Property Software market from 2023-2030?
- Which market segments hold the most growth potential?
- How do regional market dynamics and growth trends compare?
- What strategic initiatives are key market players undertaking?
Selected Companies Mentioned in the Report:
- Anaqua Inc.
- AppColl Inc.
- Continux GmbH
- CPA Global Limited
- Gridlogics
- InnovationAsset Group Inc.
- Inteum Company LLC
- IPfolio Corporation
- Lecorpio
- Patrix AB
- Patsnap Pte. Ltd.
- Questel
- RightsLine Software, Inc.
- TM Cloud Inc.
- WebTMS Limited
For more information about this report visit https://www.researchandmarkets.com/r/pwdo1e
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