Patent Management Software Market Size, Share, Analysis, Trends, Growth Report, 2030

Patent Management Software Industry Prospective:

The global patent management software market size was worth around USD 2300 million in 2022 and is predicted to grow to around USD 4400 million by 2030 with a compound annual growth rate (CAGR) of roughly 8.5% between 2023 and 2030.          

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Patent Management Software Market: Overview

Organizations utilize patent management software as a tool to efficiently and successfully manage their projects and patents throughout the entire organization. It oversees a variety of patent matters and maintains documentation of opposition, submission, and renewal. Copyrights, patents, innovations, industrial designs, trademarks, and other intellectual property are all assisted by and monitored by the program. The system creates a centralized repository, which makes it possible to handle the data properly. The intellectual property rights rules are made easier to use and simpler to apply with the help of patent management software. The management of businesses, designers, inventors, and artists who have patented goods and services places a high value on it. To give clients the right services, customers' data, agreements, licenses, and opposition filing are all updated in a single, central repository regularly. Furthermore, the program facilitates the lifespan of intellectual property, disclosure agreements, contract filing, and renewal, as well as payments from clients.

Key Insights

• As per the analysis shared by our research analyst, the global Patent Management Software market is estimated to grow annually at a CAGR of around 8.5% over the forecast period (2023-2030).
• In terms of revenue, the global Patent Management Software market size was valued at around USD 2300 million in 2022 and is projected to reach USD 4400 million, by 2030.
• The growing digital transformation and rising product launches are expected to propel the patent management software market expansion during the forecast period.
• Based on the type, the cloud-based segment is expected to grow at the highest CAGR during the forecast period.
• Based on application, the industries segment is expected to capture a significant market share over the forecast period.
• Based on region, the Asia Pacific is expected to hold the largest market share over the forecast period.

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Patent Management Software Market: Growth Drivers

Rapid modernization drives market growth

One of the main drivers behind intellectual property management is the expanding importance of innovation in the modern global economy. A highly competitive environment has been created by the rapid advancements in technology and the advent of globalization, placing pressure on businesses to innovate to stay ahead of the curve. Patents and other forms of intellectual property are crucial for preserving the creative and unique ideas of firms. With the help of efficient intellectual property management, businesses may safeguard their competitive edge and generate revenue by licensing and commercializing their intellectual property assets. Intellectual property management is now a critical business activity that demands a planned and proactive strategy to guarantee that companies may profit from their intellectual property assets and maintain their competitive edge. Thus, this is expected to propel the patent management software market expansion during the forecast period.

Patent Management Software Market: Restraints

Complexity and cost of implementation hamper the market growth

Patent management software implementation and customization can be difficult and time-consuming. Businesses may encounter difficulties integrating the software with current systems and customizing it to meet their unique requirements. Furthermore, the upfront costs associated with putting patent management software into place—which include customization and license fees—can be high. Additionally, smaller firms with limited resources may find it difficult to cover continuing maintenance expenditures. Therefore, the complexity and the cost of implementation might be hampering the patent management software industry growth.

Patent Management Software Market: Opportunities

Increasing product launches offers a lucrative opportunity for market growth

The increasing product launches are expected to provide a lucrative opportunity for patent management software market growth during the forecast period. For instance, in September 2023, at the 2023 Patent Information Fair & Conference (PIFC) in Japan, Clarivate Plc, a pioneer in providing individuals and companies with reliable intelligence to transform the world, demonstrated its next-generation intellectual property (IP) management software, IPfolioTM. For corporate IP teams who want the most control over their portfolios of intellectual property, such as patents, trademarks, and designs, with the least amount of work, IPfolio is an end-to-end IP management software solution. An alternative to the several systems that now make up IP management is offered by IPfolio. Customers can work across divisions and manage IP activities from a single, centralized hub with this robust and adaptable cloud-based solution. Users are empowered to make decisions more quickly, confidently, and effectively by having instant access to connected tools and industry-leading Clarivate data. With automated features that save time and effort, it also lets users get rid of laborious manual activities.

Patent Management Software Market: Challenges

Data security and privacy concerns pose a major challenge to market growth

Securing confidential intellectual property demands strong security protocols. The adoption of patent management software may be impeded by privacy and data security concerns, particularly if the program fails to fulfill strict security requirements. Thus, acting as a major challenge for the market growth.

Patent Management Software Market: Segmentation

The global Patent Management Software industry is segmented based on the type, application, and region.

Based on the type, the global market is bifurcated into cloud-based and on-premises. The cloud-based segment is expected to grow at the highest CAGR during the forecast period. The growing popularity of cloud deployment services, which offer no setup costs and on-demand access to solutions and services, is responsible for the segment's rise. In addition, cloud services facilitate the tracking of apps for both individuals and companies by enabling them to do activities at their own pace as opposed to on-premise, which drives the growth of the market. On the other hand, the on-premises segment is expected to capture a significant market share during the forecast period. The internal infrastructure of an organization is where this software is installed and run. Additionally, those who file for patents may track and manage their applications using the PC program. Internal teams can identify and correct system faults and issues due to the on-premise implementation.

Based on the application, the global patent management software industry is bifurcated into government, industries, enterprises, universities, research institutes, and service agencies. The industry segment is expected to capture a significant market share over the forecast period. The adoption of patent management software has been witnessed across various industries. Intellectual property plays a crucial role in protecting innovations and providing a competitive edge, making patent management software valuable for organizations in diverse sectors. For instance, technology companies, including software developers, hardware manufacturers, and IT service providers, heavily rely on patent management software to protect their inventions and manage intellectual property portfolios. In addition, telecommunications companies focus on patenting technologies related to communication networks, wireless technologies, and other innovations. Patent management software helps them track and protect these assets. Thus, this is expected to propel the market growth.

Patent Management Software Market: Report Scope

Patent Management Software Market: Regional Analysis

Asia Pacific is expected to hold the largest market share over the forecast period

The Asia Pacific is expected to hold the largest patent management software market share over the forecast period. The growth in the region is due to the rise in industrial applications, patents, and trademarks in nations including South Korea, China, Japan, and India. Furthermore, because of the recent increase in patents, end-user sectors in the Asia Pacific area, including IT, Telecom, and BFSI, are adopting intellectual property management software at a substantial rate.

According to the World Intellectual Property Indicators (WIPO), Asia has surpassed the United States as the leading source of international patent applications, accounting for 54.1% of all applications in 2021, up from 38.5% in 2011, with China driving overall demand growth for intellectual property (IP) rights. In the Asia Pacific region, China is anticipated to control a sizeable portion of the market for patent management software. The increasing number of patent applications and the rising usage of IP management software by end-user companies are the main factors contributing to the nation’s high adoption rate. Vendors in the Chinese market are starting to emerge as the top applicants for patents. For instance, Huawei Technologies submitted the most foreign patent applications in 2022 (7,689 applications), according to WIPO data. Samsung Electronics trailed in second place with over 4,387. Thus, the aforementioned statistics propel the market growth in the region.

Patent Management Software Market: Competitive Analysis

The global Patent Management Software market is dominated by players like:

• CPA Global
• IPfolio
• Anaqua
• Patrix AB
• Gridlogics
• IAMIP Sverige AB
• Inteum Company
• Questel
• VajraSoft Inc
• AppColl
• Alt Legal
• PatSnap
• Shenzhen Wade

The global Patent Management Software market is segmented as follows:

By Type

• Cloud-based
• On-Premises

By Application

• Government
• Industries
• Enterprises
• Universities
• Research Institutes
• Service Agencies

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa