The demand for enterprise intellectual property (IP) management software is expected to reach US$6,573.2 million in 2022 and grow at a CAGR of 17.4% to US$32,764.7 million by 2032.
Growth is attributed to the end-user sectors’ escalating technological progress. The market for enterprise intellectual property (IP) management software experienced a CAGR of 16.3% from 2016 to 2021.
IP management software provides collaborative IP management services for different corporate requirements. Increasing emphasis on protecting and managing intellectual property portfolio is driving the growth of the global enterprise intellectual property management software market.
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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 on IP has 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.
The importance of staying competitive and widespread implementation of smart system management is encouraging software developers to invest in intellectual property management software. High-end operations and large organisational functions is accelerating the adoption of these technologies in the end-use industries.
In addition, frequent customisation in product by end users is benefiting the enterprise intellectual property management software market, as they protect and safeguard the essentials of intellectual property handlings and treatment such as inventions, patents, trademarks, and other IP related contracts in an systematic manner.
The market 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.
However, with all the associated benefits these service providers come across number of challenges and obstacles predominantly in the initial stages, most of which have to do with the high cost of setting up the services in an organisation. High initial investment can impede the growth of the market during the forecast period.
Enterprise Intellectual Property Management Software Market: Key Players
Some of the key participants in global intellectual property management software market are: Anaqua, Inc., Patrix AB, IPfolio, SimpleLegal, Pattsy, FlexTrac, Lecorpio , WebTMS and CPA Global (Patrafee).
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
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Key Segments Profiled In The Enterprise Intellectual Property (IP) Management Software Industry Survey
Enterprise Intellectual Property (IP) Management Software Market by Module Type:
- Patent
- Trademark
- Design
- Copyright
- Litigation
- IPAB
- Others
Enterprise Intellectual Property (IP) Management Software Market by Service Type:
- Development and Implementation
- Consulting
- Support
- Maintenance
Enterprise Intellectual Property (IP) Management Software Market by End User:
- Banking and Financial Services (BFSI)
- Energy
- Aerospace and Defence
- Oil and Gas
- Electronics and Semiconductors
- Automotive
- Healthcare
- Others
Enterprise Intellectual Property (IP) Management Software Market by Region:
- North America Enterprise Intellectual Property (IP) Management Software Market
- Latin America Enterprise Intellectual Property (IP) Management Software Market
- Asia Pacific Enterprise Intellectual Property (IP) Management Software Market
- Europe Enterprise Intellectual Property (IP) Management Software Market
- Middle East and Africa Enterprise Intellectual Property (IP) Management Software Market
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