Intellectual Property Management Software Market Size More Than Triples to Cross USD 21 Billion With the CAGR of 17.32% by 2029 | BlueWeave Consulting

New Delhi, April 18, 2023 (GLOBE NEWSWIRE) -- The global intellectual property management software market is gaining traction because of the growing patent, trademark, and industrial design deployments and an increasing demand for well-documented and secured systems.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global intellectual property management software market size at USD 6.91 billion in 2022. During the forecast period between 2023 and 2029, the global intellectual property management software market size is projected to grow at a robust CAGR of 17.32% reaching a value of USD 21.01 billion by 2029. The demand for intellectual property management software is expected to be driven by an increase in the understanding and usage of intellectual property (IP) rights among individual and business end-users. Additionally, the growing need for a safe, well-documented method to handle intellectual property inside a business is expected to fuel market expansion.

Global Intellectual Property Management Software Market – Overview

Intellectual property (IP) management is a system that aids in the management of intangible assets like works of human invention and intelligence. Patents, copyrights, trademarks, trade secrets, and geographical identifiers are the basic categories of intellectual property. In addition to centralizing IP asset management, recognizing and monitoring infringement cases, posting IP that is available for licensing, and automating the IP process, the key advantage of adopting IP management software is that it helps boost the productivity and profitability of the business.

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Segment Information

Global Intellectual Property Management Software Market – By Deployment

Based on deployment, the global intellectual property management software market is segmented into on-premises and cloud. The on-premises deployment holds a higher share in the global intellectual property management software market. The internal infrastructure of an organization is used to install and run this software. Additionally, those who submit patents may track and manage their applications using the PC program. Internal teams may find and repair system faults thanks to on-premises deployment. However, cloud deployment is projected to register a higher growth rate during the forecast period.

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Impact of COVID-19 on Global Intellectual Property Management Software Market

The growth of the market for intellectual property management software was adversely affected by the COVID-19 pandemic outbreak. The use of the program was substantially influenced by the lockdown limitations enforced by many governments throughout the world. However, with the progressive relaxation of limitations and the restart of operations, the sector is anticipated to experience considerable development. 

Competitive Landscape

Major players operating in the global intellectual property management software market include Anaqua Inc., Clarivate PLC, DocketTrak, WebTMS Limited, TM Cloud Inc., Patrix AB, Patsnap Pte Ltd, Alt Legal Inc., Gridlogics Technologies Pvt. Ltd, and AppColl Inc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Global Intellectual Property Management Software Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Intellectual Property Management Software Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Recent Developments

• In April 2023 – Fujitsu, a prominent provider of information and communications technology, adopted Anaqua's AQX platform for intellectual property management.
• In February 2023 - Wellspring, a pioneer in software solutions for R&D and innovation management, acquired IP Pragmatics, a top provider of consultancy and other services for tech transfer and IP management.

Scope of the Report

By Component

• Software
• Services

By Deployment

• On-premises
• Cloud

By End User

• Individual
• Commercial Outlook

By Commercial Outlook

• BFSI
• IT & Telecom
• Automotive
• Technology
• Others

By Application

• Patent Management
• Trade Management
• Licensing

By Region

• North America
• Europe
• Asia Pacific (APAC)
• Latin America (LATAM)
• Middle East and Africa (MEA)

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