Global enterprise intellectual property (IP) management software market demand is anticipated to be valued at USD 7624.9 million in 2023, forecast a CAGR of 17.6% to be valued at USD 38684.6 million from 2023 to 2033.
Growth is attributed to the increasing advancement in end-user industries. From 2018 to 2022 a CAGR of 15.5% was registered for the enterprise intellectual property (IP) management software market.
| Data Points | Key Statistics |
|---|---|
| Growth Rate (2018 to 2022) | 15.5% CAGR |
| Projected Growth Rate (2023 to 2033) | 17.6% CAGR |
| Expected Market Value (2023) | USD 7624.9 million |
| Anticipated Forecast Value (2033) | USD 38684.6 million |
Effective intellectual property (IP) management is essential to achieve a competitive edge in the market. The highly competitive business environment is influencing companies to invest in technologies that ensure businesses and IP management strategies are categorically aligned to ensure the smooth functioning of the organization.
Enterprise management of intellectual property assets is gaining traction globally, as companies are realising that unlicensed public usage can be detrimental to not only the overall bottom line of the companys, but also to the entire business strategy.
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Increasing demand for a well-documented and secured system to manage the intellectual property to drive expansion
Adoption of enterprise management of IP is gaining traction, as more organisations focus on organising their IP assets tactically and protecting them from unlicensed usage. Changing perceptions of IP have also influenced businesses to invest in their proper and organised management.
While IP was seen as a corporate property for a long time, today, it is viewed as an inherent component of a strong business strategy. Many businesses have boosted their bottom line by monetising their IP assets.
Increasing emphasis on protecting and managing intellectual property portfolios is driving the growth of the global enterprise intellectual property management software market.
The importance of staying competitive and the widespread implementation of smart system management is encouraging software developers to invest in intellectual property management software. High-end operations and large organisational functions are accelerating the adoption of these technologies in end-use industries.
In addition, frequent customization of the product by end users is benefiting the enterprise intellectual property management software market, as they protect and safeguard the essentials of intellectual property handling and treatment such as inventions, patents, trademarks, and other IP-related contracts in a systematic manner.
Also, the increase in patent applications by various companies, such as Huawei Technologies; Samsung Electronics; Qualcomm Inc.; and LG Electronics, is expected to support the segment growth over the forecast period.
High Cost Associated with Intellectual Property Management Software May Restrain the Growth of the Market
Although the enterprise intellectual property management software market has numerous end-uses, there are numerous obstacles that likely pose a challenge to market growth. The high cost of setting up the services in an organization. The high initial investment can impede the growth of the market during the forecast period.
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Presence of Key Enterprise Intellectual Property Management Software Providers to drive expansion
North America is projected to maintain its lead in the global enterprise intellectual property management software market. North America dominated the market and accounted for a 34.2% share of the global enterprise intellectual property management software market.
The market in North America is also expected to gain from strategic partnerships between the leading industry members. For instance, industry pioneer IPfolio recently entered into a partnership with ProspeQt- a Brazilian player, to grow its presence in the emerging market of South America.
By 2022, Europe is likely to capture a share of 23.5% in the enterprise intellectual property management software market. The increasing number of intellectual property offices in the region is also supporting market growth in the forthcoming years.
The technological advancement in various industries, such as BFSI, IT and telecom, technology, automotive, and healthcare, in the region provides opportunities for the growth of the market.
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Growing Demand for Enterprise Intellectual Property Management Software in different industries to Boost the Growth of the Market in the Asia Pacific
The Asia Pacific is anticipated to exhibit a significant growth rate in the enterprise intellectual property management software market over the forecast period owing to the increasing number of IT & telecom companies, coupled with various automotive manufacturing units in countries such as India and China, which is projected to boost the market growth in the region.
The presence of leading enterprise intellectual property (IP) management software providers in the region boost the growth of the market in the Asia Pacific. For instance, in January 2020 - Wellspring, a leader in innovation management software, announced the opening of a new office in Japan, based in Tokyo.
This constitutes a major step for the company in creating a global network of offices, and in building a local presence to serve customers in Asia.
New entrants in the enterprise intellectual property management software market are continually indulging in several collaborations and highly investing in research and development activities to provide more convenient solutions to industry verticals.
Some of the major start-ups that are leading the development of the market are - Mind Matters Solutions, Provakil, IPfolio, AppColl, Epicor, Foundation IP, Alt Legal and Rightsline.
Some of the key participants present in the global enterprise intellectual property (ip) management software market include Anaqua, Inc., Patrix AB, IPfolio, SimpleLegal, Pattsy, FlexTrac, Lecorpio, WebTMS and CPA Global (Patrafee) among others.
Attributed to the presence of such a high number of participants, the market is highly competitive. While global players such as Anaqua, Inc., Patrix AB, IPfolio, SimpleLegal, Pattsy, and FlexTrac account for a considerable market size, several regional-level players are also operating across key growth regions, particularly in the Asia Pacific.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 17.6% from 2023 to 2033 |
| Expected Market Value (2023) | USD 7624.9 million |
| Anticipated Forecast Value (2033) | USD 38684.6 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
Module Type, Service Type, End User, Region |
| Regions Covered |
North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Mexico, Brazil, Germany, Italy, France, UK, Spain, China, Japan, South Korea, Malaysia, Singapore, Australia, GCC Countries, South Africa, Israel |
| Key Companies Profiled |
Anaqua Inc.; Patrix AB; Patracode; SimpleLegal; FlexTrac; Lecorpio; Clarivate; Inteum; Gridlogics |
| Customization | Available Upon Request |
The market is estimated to secure a valuation of at USD 7.6 billion in 2023.
The market is predicted to record a CAGR of 17.6% through 2033.
Anaqua Inc., Patrix AB, and Patracode are the top competitors in the market.
Rising demand for a well-documented and secured system to boost the market prospects.
From 2018 to 2022, the market registered a CAGR of 15.5%.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Module Type 5.1. Patent 5.2. Trademark 5.3. Design 5.4. Copyright 5.5. Litigation 5.6. IPAB 5.7. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Service Type 6.1. Development and Implementation 6.2. Consulting 6.3. Support 6.4. Maintenance 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 7.1. Banking and Financial Services (BFSI) 7.2. Energy 7.3. Aerospace and Defence 7.4. Oil and Gas 7.5. Electronics and Semiconductors 7.6. Automotive 7.7. Healthcare 7.8. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Anaqua Inc. 18.2. Patrix AB 18.3. Patracode 18.4. SimpleLegal 18.5. FlexTrac 18.6. Lecorpio 18.7. Clarivate 18.8. Inteum 18.9. Gridlogics 18.10. WebTMS 19. Assumptions & Acronyms Used 20. Research Methodology
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Enterprise Intellectual Property (IP) Management Software Market
