Intellectual Property Management Software Market Analysis Report By Component, By Deployment Type, By End User, By Application, By Region And Segment Forecasts From 2021 To 2028

Synopsis

The global intellectual property management software market was prized by USD 137.3 million in 2020. It is estimated to witness 15.6% CAGR from 2021 to 2028.

Drivers

The rising alertness along with purpose of Intellectual Property (IP) rights between commercial as well as individual clients is projected to impel the demand for intellectual property management software.

The rising demand for a safe and well-documented arrangement, to administer intellectual properties in a business is, moreover, anticipated to add to the enlargement of the market.

Intellectual property is a legal move towards shielding ideas and innovations by means of presenting the holders complete rights in addition to permitting them to collect business profits from their work.

Intellectual property management software makes possible owners of the intellectual property to professionally shield and stock up their intellectual properties beneath trade secret, trademark, and software patent or copyright. It, moreover, assists them to simplify admittance to the records of their intellectual property.

The augmented reception of outsourcing IP management services through a variety of large enterprises are adding to the expansion of the market. The increasing stress of businesses on defending originality plus rising revenues, in addition to reorganization of business functions is likely to steer the intellectual property services section, thus stimulating the development of the market during the forecast period.

Effect of Covid-19

The intellectual property management software market observed negative development, throughout the initial half of 2020 because of the increase of the Covid-19 illness. A number of organizational offices, businesses and manufacturing plants were close down for the moment, to obey globally forced lockdown limitations.

On the other hand, the relieve in lockdown limitations along with recommencement of a range ofactivities, together with business actions and movement of the citizens are expected to maintain the market demand during the forecast period.

End User Insight

In 2020, the commercial sector held 62.7% share of the general market. The globally rising use of the patents via diverse businesses is adding to the enlargement of the sector.

The commercial sector has more subdivided into technology, BFSI, automotive, IT & telecom, plus others. The BFSI sector held 35.6% share of the commercial sector’s market. The increasing figure of financial as well as banking organizations, through the world, is expected to encourage the development of the sector, during the forecast period.

The individual sector is projected to increase by 17.0% CAGR, during the forecast period. The intellectual property management software resolutions assist individuals to record a copyright and flawlessly follow their request, thus adding the expansion of the sector.

Deployment Type Insight

On the basis of deployment type, the market is subdivided into cloud and on-premise. The on-premise section held more than 50.9% revenue share and led the market in 2020. This software is put in and functioned from the in house infrastructure of a business.

The cloud section is projected to develop by 16.3% CAGR, during the forecast period. The development of the section can be accredited to the rising acceptance of cloud deployment services because of the features like no setup expenditure and on-demand accessibility of services as well as solutions.

Component Insight

The market is subdivided into software and service, on the basis of the component. The software division held above 53.1% revenue share and directed the market in 2020.

The development of the division can be credited to the rising implementation of intellectual property management software in a variety of businesses like jewelry, automotive, IT and telecom, healthcare, technology and BFSI. The software is extensively utilized by these segments to demand as well as maintain trace of their intellectual properties rights.

The service division is projected to enlarge by the maximum 16.0% CAGR, during the forecast period. Intellectual property services perform a very important function in the deployment procedure of intellectual property management software. The companies presenting this software, moreover, give services like fixing errors as well as bugs in the software, software upgrading and maintenance. Moreover, the companies offer training & consultation services to help clients in easily operating the software.

Application Insight

The market has additionally subdivided in to licensing, patent management and trade management, on the source of application. The licensing application section held more than 55.6% revenue share of the global transitions, in 2020. The owners of the patent can permit a new party to make use of their intellectual property, by way of licensing. Furthermore, it facilitates businesses to increase their scope by means of effortlessly entering into overseas markets. These features added to the expansion of the section, in 2020.

The patent management section is expected to develop by 16.1% CAGR, during forecast period. The escalation can be credited to the rising figure of patent applications above the years.

Regional Insight

In 2020, North America held above 40.0% revenue share and directed the global intellectual property management software market. The enlargement of the local market can be credited to the presence of the companies like Questel, Anaqua Inc. and CPA Global in the U.S., the greater amount of internet users in Canada and the U.S., and the elevated alertness regarding intellectual properties along with their administration between the clients. Besides, the rising amount of intellectual property offices within the province is furthermore maintaining the development of the market.

For example, in line with the information published by World Intellectual Property Organization (WIPO), the intellectual property offices in North America comprised more than one-fifth of the entire global Intellectual Property (IP) offices, in 2019.

The market in Asia Pacific is likely to develop by maximum 18.4% CAGR, during the forecast period. A variety of automobile manufacturing divisions along with the growing figure of IT & telecom companies within the nations like China and India is expected to increase the expansion of the local market.

Companies

The companies have implemented various strategic plans, to get viable advantage and increase their attendance in the market, such as joint ventures, acquisitions and collaborations.

Some of the companies for intellectual property management software market are:

• CPA Global
• Questel
• Innovation Asset Group Inc.
• Gemalto NV
• Anaqua Inc.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2028. For this study, Million Insights has segmented the global intellectual property management software market report based on component, deployment type, end-user, application, and region:

• Component Outlook (Revenue, USD Million, 2018 - 2028)
    • Service
    • Software

• Deployment Type Outlook (Revenue, USD Million, 2018 - 2028)
    • On-premise
    • Cloud

• End-user Outlook (Revenue, USD Million, 2018 - 2028)
    • Individual
    • Commercial

• Commercial Outlook (Revenue, USD Million, 2018 - 2028)
    • BFSI
    • IT & Telecom
    • Automotive
    • Technology
    • Others

• Application Outlook (Revenue, USD Million, 2018 - 2028)
    • Patent ManBFSIagement
    • Trade Management
    • Licensing

• Regional Outlook (Revenue, USD Million, 2018 - 2028)
    • North America
        • U.S.
        • Canada
    • Europe
        • Germany
        • U.K.
        • France
    • Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
        • Mexico
    • Middle East & Africa