Albany, NY -- (SBWIRE) -- 09/28/2018 -- Intellectual property refers to the inventions, symbols, names and images used by organizations, and other properties such as artistic works. Intellectual property software enables user and organizations to effectively and efficiently manage and protect their intellectual properties. In addition, intellectual property software also helps to gain and maintain patents, trademarks, licenses, rights and others such as agreements across the intellectual property lifecycle. According to the research report, the global intellectual property software market is expected to be worth US$6,758.4 mn by the end of 2025. During the forecast period of 2017 and 2025, the global market is estimated to surge at a CAGR of 14.3%.
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Intellectual property software market is segmented by component, application, and end-use industry. By component, global intellectual property software market is categorized into software, and services. Among these components, software segment is further segmented into cloud-based and on premise. Furthermore, services segment is categorized into development and implementation services, consulting services, and maintenance & support services. Among these services, maintenance & support services segment is anticipated to see flourishing growth during the forecast period. This is primarily due to rising adoption of intellectual property software across multiple end-use industries especially manufacturing, healthcare, and IT & telecommunication. Whereas cloud-based segment is expected to see increasing adoption, owning to the factor such as transition of businesses to paperless or cloud-based business models.
Based on applications, global intellectual property software market is categorized into patent management, trademark management, intellectual property portfolio management, intellectual property licensing, intellectual property reporting & analytics, and others. Intellectual property licensing, reporting, & analytics segments are projected to see healthy growth during the forecast period. On the basis of end-use industry, intellectual property software market is segmented into individuals (independent inventors), banking, financial institutions, and insurance (BFSI), government, healthcare, IT and telecommunication, electronics, manufacturing, and others. Among these, healthcare, IT & telecommunication, and electronics are the key industries supplementing the growth of intellectual property software market.
Geographically, the global market is segmented into North America, Europe, the Middle East and Africa, Asia Pacific, and South America. North America held the largest share in the global market for intellectual property software market as of 2015. The high rate of patenting has been the driving force for this market in the last few years. Growing application and awareness of intellectual property rights amongst end-use industries has also benefitted the overall market. The report states that emergence of information and communication technologies is also likely to contribute towards the growth of this regional market in the forthcoming years. On the other hand, Asia Pacific is also expected to show an excellent growth rate as the region is on the verge of an economic revolution with emergence of a banking and finance sector. The emerging economies of India, China, and Indonesia are expected to be the key contributors to the intellectual property software market.
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The rising penetration of intellectual property software has encouraged many regional and global companies to extend their product portfolio across the world. Among these companies, some of the major players in global intellectual property software market are Aistemos, Ambercite, Anaqua, Inc., Clarivate Analytics, Dennemeyer, Evalueserve Netherlands B.V., Gemalto NV, Gridlogics, Innography, Inc., Innovation Asset Group, Inc., Inteum Company, LLC, Iolite Softwares Inc., IP Checkups, Inc., IP Street Holdings, LLC, IPfolio, LexisNexis, Minesoft Ltd., O P Solutions, Inc., Patrix AB, PatSnap Pte. Ltd., Questel, TORViC Technologies, Inc., VajraSoft Inc., Wellspring Worldwide, and XLPAT.