At 15.78% CAGR, Intellectual Property Software Market Size to Reach USD 22,658.5 Mn by 2030 – Astute Analytica
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Software intellectual property, or software IP, is a computer program or piece of code that is legally shielded from theft, unlawful duplication, and other uses. The intellectual property (IP) related to that code or piece of software is owned by the company that created it or acquired the rights to it. Especially in digital and green economies, intellectual property rights are crucial for encouraging innovation and safeguarding investment. IP management within an organization takes a lot of measures and capital to complete. In contrast, outsourcing IP management helps firms cut expenses, boost productivity, and boost profitability. Additionally, by using cloud computing, people and businesses can avoid the costs associated with buying, setting up, and maintaining pricey hardware and software.
Issues associated with the maintenance of Intellectual Property Software
• Registering Software Brands or Logos as Trademarks
• Functions and Features of Software
• License Agreements
• Source Code
• Software as a Copyrighted Literary Work
• Copyright Ownership
Factors Influencing Market Growth
The increasing awareness of intellectual property rights is a key element driving the growth of the global market for intellectual property software. For instance, the management of patent IP has observed a significant shift in recent years toward digitalization. Applications for patents skyrocketed in 2021.
An increase in the need for a secure and well-documented system within a corporation is driving the growth of the intellectual property software market. Inventions and ideas are legally protected by intellectual property, which grants owners exclusive rights and allows them to profit financially from their creations.
Furthermore, the growing need for distinctive IPs for goods is what is driving the growth of the intellectual property outsourcing sector. With the aid of intellectual property management software, IP owners may effectively preserve and secure their intellectual properties using trade secrets, software patents, trademarks, and copyrights. The data is also easier to access, which makes it easier to manage. Due to these advantages, many firms use the program to provide their clients with effective services.
However, data security, insufficient awareness, high investment costs, and the complexity of software maintenance are anticipated to restrain market expansion. The difficulty of upholding copyright protection because it applies to all computer source code and is not just restricted to a single language
Segmentation Summary
In 2021, in terms of components, the software segment held a dominant share of the global intellectual property services industry. On the other hand, the service segment will record the highest compound annual growth rate throughout the prognosis course because the purpose of intellectual property services is to safeguard the rights of the IP owner.
In 2021, in terms of the deployment type segment, the on-premises segment conquered a significant share of the global intellectual property software industry because it makes it possible for internal teams to find and fix system faults. On the other hand, the cloud segment will register the highest growth rate during the forecast years because there is no startup fee and solutions and services are available on demand.
In 2021, on the basis of the end-users sector, the academia segment projected the lion's share of the global intellectual property services industry. Typically, the most significant kinds of IP protection for academic institutions are copyright and patents. However, the IT & telecommunication segment will record the highest rate in the coming years.
Regional Summary
In 2021, in terms of region, North America acquired a prominent share of the global intellectual property software industry due to the high levels of internet usage in the United States and Canada and the great knowledge of intellectual property and its management among end-users. According to internet global stats, the United States had 297,322,868 Internet users as of December 31, 2020, and an 89.5% penetration rate.
However, the Asia Pacific region is predicted to see the highest CAGR during the projected period due to numerous partnerships and collaborations between the government, suppliers, and research experts. For instance, Anaqua announced in June 2022 that it had acquired Practice Insight Pty Ltd from IPH Limited along with WiseTime, the company's intelligent time collection software. The acquisition intends to satisfy the market for law firms' changing needs.
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Leading Competitors
The renowned competitors in the global intellectual property software market are:
WebTMS Limited
Anaqua
TM Cloud Inc.
AppColl Inc.
Questel
RightsLine Software, Inc.
Patsnap Pte. Ltd.
Inteum Company LLC
Continux GmbH
PatrixAB
CPA Global Limited
Lecorpio
Gridlogics
IPfolio Corporation
InnovationAsset Group Inc
Other Prominent Players
Segmentation Outline
The global intellectual property software market segmentation focuses on Component, Deployment Type, End-User, and Region.
By Component Segment
Software
o Patent Management
o Trademark Management
o Copyright Management
o Licensing
Service
o Data Validation and Portfolio Onboarding
o Docketing and Administrative Services
o Foreign Filling Services
o Maintenance Fee Services
o Patent Search Services
By Deployment Type Segment
On-premise
Cloud
By End-User Segment
Academia
Corporate
Government
Legal Services
Life Sciences & Healthcare
IT & Telecommunication
BFSI
Automotive
Aerospace & Defense
Others
By Region Segment
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Russia
Poland
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
South Korea
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
Latin America
Argentina
Brazil
Rest of Latin America
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About Astute Analytica
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
Aamir Beg
Astute Analytica
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