Intellectual Property Management Software Market Size, Share & Trends Analysis Report By Component (Service, Software), By Deployment Type, By End User (Individual, Commercial), By Application, By Region, And Segment Forecasts, 2021 - 2028

Report Overview

The global intellectual property management software market size was valued at USD 137.3 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 15.6% from 2021 to 2028. The increasing awareness and application of Intellectual Property (IP) rights among individual and commercial end-users are expected to drive the demand for intellectual property management software. Furthermore, the increasing demand for a well-documented and secured system to manage intellectual properties within an organization is also expected to contribute to market growth. Intellectual property is a lawful approach for protecting inventions and ideas by offering the owners exclusive rights and enabling them to reap commercial benefits from their work.

During the first half of 2020, the intellectual property management software market witnessed negative growth due to the spread of the COVID-19 virus. Several organizations, manufacturing units, and administrative offices were temporarily shut down to comply with lockdown restrictions imposed across the globe. However, the ease in lockdown restrictions and resumption of various activities, including people movement and trade activities, are anticipated to support the market demand over the forecast period.

Intellectual property management software enables IP owners to efficiently store and protect their intellectual properties under a trademark, copyright, software patent, or trade secret. It also helps them to streamline access to their intellectual property data. Patent management software is an administrative software that manages the entire workflow process for patent portfolio managers for allocation of deadlines, reminder alerts for renewals, case document docketing, and due filing and submissions. Owing to these benefits, the software is widely adopted by various organizations to offer efficient services to their customers. 

The increased acceptance of outsourcing IP management services by various large enterprises is contributing to the growth of the market. Furthermore, in-house IP management is a vast resource-demanding task that requires heavy investments. Outsourcing IP management helps SMEs and large enterprises in productivity growth, profitability improvement, protecting revenues, and cost reduction. Thus, the growing emphasis of enterprises on protecting innovations and increasing revenues, and streamlining business operations is expected to drive the intellectual property services segment, thereby fueling the market growth over the forecast period.

Component Insights

Based on component, the market has been segmented into service and software. The software segment dominated the market and accounted for over 53.1% revenue share in 2020. The segment growth can be attributed to the increasing adoption of intellectual property management software in various industries, such as BFSI, IT and telecom, technology, automotive, healthcare, and jewelry. The software is widely used by these sectors to apply for and keep track of their intellectual properties rights.

The service segment is anticipated to expand at the highest CAGR of 16.0% over the forecast period. IP services play a vital role in the deployment process of intellectual property management software. Vendors offering this software also provide services such as software upgrades, maintenance, and fixing bugs and errors in the software. They also provide training & consultation services to assist end-users in operating the software with ease.

Deployment Type Insights

Based on deployment type, the market has been segmented into on-premise and cloud. The on-premise segment dominated the market and accounted for a revenue share of over 50.9% in 2020. This software is installed and operated from an organization’s internal infrastructure. Furthermore, individuals who file a patent can use the software on their PC to track and manage their applications. The on-premise deployment allows internal teams to fix bugs and detect errors in the systems.

The cloud segment is anticipated to expand at a CAGR of 16.3% from 2021 to 2028. The segment growth can be attributed to the increasing adoption of cloud deployment services owing to factors such as on-demand availability of solutions and services and no setup cost. Furthermore, cloud services allow individuals and organizations to track applications conveniently by allowing them to carry out their tasks as per their convenience compared to on-premise, thus propelling the segment growth.

End-user Insights

The commercial segment accounted for a share of 62.7% of the overall market in 2020. The increasing application of patents by various industries globally is contributing to the segment growth. The commercial segment has further been segmented into BFSI, IT and telecom, automotive, technology, and others. The BFSI segment accounted for 35.6% of the commercial segment’s market share. The rising number of banking and financial institutions across the globe is likely to support the segment growth over the forecast period.

The individual segment is anticipated to expand at a CAGR of 17.0% over the forecast period. Intellectual property management software solutions help individuals to file a patent and track their application seamlessly, thereby supporting the segment growth.

Application Insights

Based on application, the market has further been segmented into patent management, trade management, and licensing. The licensing application segment accounted for over 55.6% share of the global revenue in 2020. Through licensing, patent owners can allow another party to use their intellectual property. It also enables businesses to expand their reach by easily foraying into foreign markets. These factors contributed to the growth of the segment in 2020.

The patent management segment is anticipated to expand at a CAGR of 16.1% from 2021 to 2028. The growth can be attributed to the increasing number of patent applications over the years. According to data published by Nasscom, in June 2020, India witnessed a six-fold growth in the number of Internet of Things (IoT) applications, out of which nearly 80% of patents were related to Industry 4.0. Furthermore, the surge in patent applications by various companies, such as Huawei Technologies; Samsung Electronics; Qualcomm Inc.; and LG Electronics, is expected to support the segment growth over the forecast period. For instance, Samsung Electronics published 3,093 Patent Cooperation Treaty (PCT) applications in 2020.

Regional Insights

North America dominated the market and accounted for over 40.0% share of the global revenue in 2020. The growth in the region can be attributed to the high awareness about intellectual properties and their management among end-users, a high number of internet users in the U.S. and Canada, and the presence of players such as Anaqua Inc.; CPA Global; and Questel in the U.S. Furthermore, the increasing number of intellectual property offices in the region is also supporting the market growth. For instance, according to data published by World Intellectual Property Organization (WIPO), in 2019, intellectual property offices in North America constituted over one-fifth of the world’s total IP offices.

Meanwhile, the market in the Asia Pacific region is anticipated to expand at the highest CAGR of 18.4% from 2021 to 2028. The increasing number of IT & telecom companies, coupled with various automotive manufacturing units in countries such as India and China, is projected to boost the market growth in the region.

Key Companies & Market Share Insights

Prominent players that dominated the global market for intellectual property management software in 2020 include Clarivate; Questel; Anaqua Inc.; Innovation Asset Group Inc.; CPA Global; and Gemalto NV. These players adopted acquisitions, collaborations, and partnerships as their growth strategies to enhance their presence and gain a competitive edge in the market. For instance, in January 2020, Questel confirmed the acquisition of the NRI Cyber Patent in Japan. NRI Cyber Patent is an intellectual asset management and IP business intelligence service and solutions provider. The acquisition enabled Questel to expand its business offerings.

Similarly, in October 2020, Clarivate, an insights and analytics firm, announced the integration of Darts-ip case law data with Innography IP intelligence and analytics solution to improve strategic decision-making across the intellectual property lifecycle. Some of the prominent players operating in the global intellectual property management software market are:

• Anaqua Inc.

• Questel

• Gemalto NV

• CPA Global

• Innovation Asset Group Inc.

Recent Developments

• In December 2022, Questel acquired Equinox, an Intellectual Property Management System(IPMS) provider. This acquisition added a dedicated solution for law firm clients in Questel’s portfolio, thereby strengthening its well-established business of IPMS.

• In March 2022, Questel acquired Markify, one of the leading providers of trademark-watching and searching services. This acquisition gave Questel access to one of the largest trademark databases of Markify, enabling Questel to offer global end-to-end Intellectual Property services.

Intellectual Property Management Software Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2028. For this study, Grand View Research has segmented the global intellectual property management software market report based on component, deployment type, end-user, application, and region:

• Component Outlook (Revenue, USD Million, 2018 - 2028)

  • Service

  • Software

• Deployment Type Outlook (Revenue, USD Million, 2018 - 2028)

  • On-premise

  • Cloud

• End-user Outlook (Revenue, USD Million, 2018 - 2028)

  • Individual

  • Commercial

• Commercial Outlook (Revenue, USD Million, 2018 - 2028)

  • BFSI

  • IT & Telecom

  • Automotive

  • Technology

  • Others

• Application Outlook (Revenue, USD Million, 2018 - 2028)

  • Patent Management

  • Trade Management

  • Licensing

• Regional Outlook (Revenue, USD Million, 2018 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa