PUBLISHER: Allied Market Research | PRODUCT CODE: 1344498
PUBLISHER: Allied Market Research | PRODUCT CODE: 1344498
According to a new report published by Allied Market Research, titled, "Intellectual Property Management Market," The intellectual property management market was valued at $8.6 billion in 2022, and is estimated to reach $37.7 billion by 2032, growing at a CAGR of 16.3% from 2023 to 2032.
Surge in rapid modernization and an increase in the number of disputes are primarily driving the growth of the Intellectual property management market. However, rising costs associated with protection and enforcement hamper the market growth. Moreover, greater emphasis on digitalization is expected to provide lucrative opportunities for the market growth during the forecast period.
On the basis of component, software segment dominated the intellectual property management market in 2022, and is expected to maintain its dominance in the upcoming years owing to the adoption of these solutions is further aided by the automated capabilities and improved visibility that digital immune technologies provide for identifying and thwarting threats. However, services segment is expected segment is expected to witness highest growth, owing to it enhances the use of software programmes, maximizes the cost of an existing installation by optimizing it, and reduces deployment costs and risks, all of which contribute to the growth of the market for extended detection and response.
Region-wise, the intellectual property management market size was dominated by North America in 2021 and is expected to retain its position during the forecast period, owing increase in need to protect creations of the mind in the U.S. that is further driven by the economic, technological, and cultural significance of intellectual property, as well as the need to combat counterfeiting, piracy, and global competition aiding the growth of the intellectual property management market. However, Asia Pacific is expected to witness significant growth during the forecast period, owing to economic growth, technological advancements, government policies, increased IP awareness, international trade, and enhanced IP infrastructure has contributed to which is expected to fuel the market growth in this region. Furthermore, several major intellectual property management solution providers including Anaqua, Inc., Clarivate Plc, Innovation Asset Group, Inc., Gemalto Nv (Thales Digital Identity And Security), Questel, Tm Cloud, Patrix Ab, Patsnap, Alt Legal, Inc., Cardinal Intellectual Property are introducing new products & services to intellectual property management.
The global intellectual property management market is segmented on the basis of component, deployment mode, application, end user, and region. On the basis of component, it is segregated into software and services. On the basis of deployment mode, it is segregated into on-premise and cloud. On the basis of application, it is bifurcated into licensing, patent management, trade management, and others. On the basis of end user, it is divided into IT and telecom, BFSI, manufacturing, healthcare automotive and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the market include Anaqua, Inc., Clarivate Plc, Innovation Asset Group, Inc., Gemalto Nv (Thales Digital Identity And Security), Questel, Tm Cloud, Patrix Ab, Patsnap, Alt Legal, Inc. Furthermore, it highlights the strategies of the key players to improve the market share and sustain competition.