by Intellectual property (IP) refers to creations of the mind such as inventions, literary and artistic works, designs, and symbols, names and images used in commerce. Intellectual property software offers tools for patent, trademark and copyright management to help organizations gain a competitive advantage from their IP assets. These software assist in identifying, capturing, organizing and integrating intellectual assets. Majority of companies use IP software for portfolio analytics, licensing opportunities analysis and monetization.
The global Intellectual Property Software Market is estimated to be valued at US$ 3.8 billion in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023-2033, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Rising need to streamline IP portfolio management and gain insights from large volumes of IP data has prompted many organizations to adopt IP software solutions, driving market growth. The intellectual property software mentioned in the heading assists companies in monitoring expiration dates, conducting prior-art searches and analyzing prosecution histories of patents & trademarks. It also helps in identifying licensing opportunities, reducing maintenance costs and preventing revenue losses from unintentional lapses or expirations of IP assets. Additionally, IP software solutions provide tools for competitive analysis, patent landscapes creation and tech trends visualization which are useful for new product development, research activities and strategic decision making. These features are stimulating wider adoption of intellectual property management platforms across industries.
Segment Analysis
The intellectual property software market is dominated by the litigation segment which accounts for more than 35% share. This is because litigation related to patents, copyrights, trademarks is increasing globally. Various software tools help attorneys, law firms and corporations to efficiently manage IP portfolios, analyze patents, track prior art and facilitate collaboration for faster resolution of intellectual property disputes.
PEST Analysis
Political: Governments across major nations are framing new IP laws and policies to boost innovation. Strong IP regimes promote R&D spending. Economic: Growth in global R&D expenditures is driving the need to effectively manage intellectual assets. The software helps reduce legal costs and saves time. Social: Awareness about IP rights is increasing. People are cautious before using copyrighted content. Technological: Adoption of AI, blockchain is making IP workflow smarter. Cloud-based solutions enhance collaboration and access from remote locations.
Key Takeaways
The Global Intellectual Property Software Market Size is expected to witness high growth.
Regional analysis – North America accounts for the largest share due to stringent IP laws and increased litigation. Presence of major software providers has led to rapid adoption of IPM solutions in the region.
Key players operating in the intellectual property software market are Anthropic, Clarivate, Gemalto, Veredictum, LexisNexis, IPfolio, CPA Global, Innovation Asset Group, Inteum, Derwent among others.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
