Global Intellectual Property Software Market is driven by growing Awareness of C

Posted by Monali Raghuwanshi on October 3rd, 2019

Transparency Market Research observes that the global intellectual property software market is highly competitive in nature due to presence of several players in the global market. Some of the leading players in the global market are Ambercite, IP Checkups, Inc., Clarivate Analytics, IPfolio, Wellspring Worldwide, LexisNexis, XLPAT, Innography, Inc., Aistemos, TORViC Technologies, Inc. Players are expected to widen their product portfolio in the coming years. Many intellectual property software providers are emphasizing on developing enhanced licensing platforms for delivering high quality solution and reduce operational cost across the industries.

According to Transparency Market Research, the global intellectual property software market is expected to be worth US,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.

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Wide Range of Applications Identified as Key Growth Driver for Global Market

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.

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.