According to study, “Global Intellectual property Software Market Size study, by End-user (Cloud based, On-premises), by Application (Enterprise, Individual, Others) and Regional Forecasts 2018-2025” some of the major companies that are currently working in the global intellectual property market are Syniverse Technologies LLC, TORViC Technologies Inc., Iolite Softwares Inc., Patrix AB, IPfolio, IP check-ups Inc., Gridlogics, VajraSoft, LexixNexis, Ambercite, Questel, XLPAT, Anaqua Inc., Clarivolex IP Solutions Pvt. Ltd., Dennemeyer, Clarivate Analytics, Sumpraxix India, Aistemos, Wellspring Worldwide, Evalueserve Netherlands B.V., CPA Global, PatSnap Pte. Ltd., Sagacious IP, Innovation Asset Group Inc., Gemalto N.V., VajraSoft Inc., Innography Inc., Ripple IP Services Pvt. Ltd., Inteum Company LLC, Minesoft Ltd., IP Street Holdings LLC. Some of the key vendors are emphasizing on developing better licensing platforms for the elevated quality solution with reduction in equipped cost across the industries.
Intellectual property assigns to the property with the set of ideas & concepts innovated by person or an organization. Intellectual property software helps user & organizations with effective & efficient management of their property and by securing their rights on the innovation. It also helps in gaining & maintains patents, licenses, trademarks, rights and others instance agreements across the intellectual property lifecycle. There are many benefits of intellectual property software like enhance the market value of business (by generating revenue for business through licensing), turn ideas into commercially booming products & services, sale or commercialization, differentiate product & services and promote them to the consumer.
Based on part global intellectual property software market is segmented into services and software. The services segment includes the consulting services, development and implementation services with maintenance and support services. The software segment includes on-premise and the cloud-based software. Moreover, software support includes the large range of applications prior art search, product teardowns, intellectual property filings, patent landscape, business strategies, patent portfolio analysis, and others (licensing or litigation support and patent portfolio mining). In addition, the on end-use industries are divided into enterprises and individuals or independent inventors. The enterprises include electronics, healthcare, manufacturing, government, IT & telecommunication and others.
The global intellectual property software market is primarily driven by the increasing demand of effective & efficient organization of intellectual properties followed by the growing emphasis of companies towards the protection of intellectual assets. Apart from the advantages, some of the factors restraining the market growth are poor rate of awareness, data security & privacy concern, complexities in maintaining to software and high cost of investment.
Globally, North American region holds major share of market for intellectual property software owing to the high rate of patenting and growth of awareness on intellectual property rights among the industries. In the upcoming years, it is estimated that the Asia-Pacific region to grow due to because of significant growth rate from emerging economies such as China, India, and Indonesia. In the upcoming years, it is estimated to grow higher owing to high rate of patenting.
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Ankur Gupta, Head Marketing & Communications