Intellectual Property Software Market – Strong Development By Major Eminent Players and Emerging Technology Trends
According to Transparency Market Research, the global intellectual property software market is expected to be worth US$6,758.4 mn by the end of 2025. During the forecast years of 2017 and 2025, the global market is expected to exhibit a CAGR of 14.3%. As of 2016, North America intellectual property software market held a share of 30% and is expected continue its dominance in the forthcoming years as well. Analysts expect the software segment will lead the global market as it held a share of 50.0% in 2016 in the overall market.
Intellectual property refers to the inventions, symbols, names and images used by organizations, and other properties such as artistic works. Intellectual property software enables user and organizations to effectively and efficiently manage and protect their intellectual properties.
In addition, intellectual property software also helps to gain and maintain patents, trademarks, licenses, rights and others such as agreements across the intellectual property lifecycle. According to the research report, the global intellectual property software market is expected to be worth US$6,758.4 mn by the end of 2025. During the forecast period of 2017 and 2025, the global market is estimated to surge at a CAGR of 14.3%.
Intellectual property software supports the business across a wide range of applications which includes prior art search, intellectual property filings, product teardowns, patent landscape, patent portfolio analysis, business strategies, and others such as patent portfolio mining, and licensing/ litigation support.
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Global intellectual property software market is mainly driven by growing emphasis of companies towards the protection of intellectual assets by gaining patents, and licenses for their innovations and technologies. In addition, increasing demand for effective and efficient management of intellectual properties gained by companies is also contributing in the growth of intellectual property software across the world.
The growing unauthorized and illegal sale of tangible and intangible assets and duplication of products is anticipated to supplement the large-scale adoption of intellectual property software over the forecast period.
Apart from this, multiple end-use industries are adopting intellectual property software in order to protect intellectual assets, mainly due to transition into digital economy business model. All these factors are expected to drive the intellectual property software market during the forecast period.