Patent Management Software Market Size, Share Global Analysis Report, 2020–2026

Industry Insights

[195+ Pages Report] According to the report published by Facts Factors, the global patent management software market size was worth around USD 1,733.9 million in 2019 and is predicted to grow to around USD 4651.57 million by 2026 with a compound annual growth rate (CAGR) of roughly 15.8% between 2020 and 2026. The report analyzes the global patent management software market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the patent management software market.

This specialized and expertise-oriented industry research report scrutinizes the technical and commercial business outlook of the patent management software industry. The report analyzes and declares the historical and current trends analysis of the patent management software industry and subsequently recommends the projected trends anticipated to be observed in the patent management software market in the upcoming years.

The patent management software market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire patent management software market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of both volume (Units) and value (USD Million) from FY 2016 – 2026.

Key Insights from Primary Research        

• As per our primary respondents, the global patent management software market is set to grow annually at a rate of 15.8%.
• It was established through primary research that the global patent management software market accounted for USD 1,733.9 Million in 2019 and is expected to reach around USD 4651.57 Million by 2026.
• North America held the largest market share in 2019 and was valued at USD 702.4 Million in 2019 and is expected to reach USD 1807.11 Million by 2026. This segment will grow at a CAGR rate of 15.0% over the forecast period. It is due to an increase in the adoption of patent management software in this region.
• On basis of deployment mode, ‘on-premise’ dominated the global patent management software market in 2019. In 2019, it accounted for USD 1,057.9 Million and is expected to reach at around USD 2519.92 Million by 2026. The ‘cloud’ segment is expected to grow at the fastest CAGR rate of 18.3% during the forecast period.
• On basis of the end-user segment, ‘enterprises’ dominated the global patent management software market in 2019. In 2019, it accounted for USD 1,308.1 Million and is expected to reach at around USD 3697.50 Million by 2026. This segment will grow at a CAGR rate of 16.6% over the forecast period.
• Asia Pacific region is expected to be the fastest growing market in the next few years and grow at a CAGR rate of 18.8% during the forecast period.
• The sudden outbreak of novel coronavirus is likely to limit the spending of the enterprise on research and development activities. Thereby, the market is expected to witness a decline in patent filings which in turn may hamper the market growth between 2020 and 2021. Post-COVID-19, the market is anticipated to grow exponentially as most industries may focus on innovations and various types of developments to recover their market loss during this critical situation.

Key Recommendations from Analysts

• As per our analysts, the global patent management software market is expected to grow significantly over the forecast period.
• As per analysts, the companies are investing in advanced technology such as artificial intelligence and blockchain which is predicted to drive the growth of the market in the next four to five years.
• As per our analysts, the increasing adoption of patent management platforms among various enterprises is leading the demand for the global patent management software market.
• The strategic and competitive advantage provided by the digitalization trend is estimated to drive this market globally.
• Our team of analysts has identified, that Asia Pacific is expected to be the fastest growing market over the estimated period owing to rise in number of patent applications in Asian countries such as India, China, and Japan.

The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the patent management software industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.

Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the patent management software industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the patent management software market.

The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the patent management software industry. The patent management software market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.

The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the patent management software sector. Key strategic developments in the patent management software market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the patent management software market are appropriately highlighted in the report.

The growth of the global patent management software market is mainly attributed to an increase in the number of patent filings across the globe. As per World Intellectual Property Indicators (WIPO), the number of patent applications around the world are 3.3 million in 2018. It has increased by 5.2% to 2017. Moreover, the rise in globalization has changed the innovation landscape. The intensified international competitiveness associated with globalization can lead to economic growth, as it strengthens prospects for embracing new technology and innovation.

As a result, emerging technologies and frequent developments are demanding for patents to protect against copying. Thereby, such factors are significantly influencing the market growth in recent years. However, the high transactional cost associated with a patent application is expected to hinder the growth of the patent management software market. Furthermore, software vendors leveraging AI-based Engines will augment the market growth in years to come. Additionally, the increasing preference for language models and network intelligence for deep, reliable, and detailed knowledge will foster market growth over the coming years.

The patent management software market research report delivers an acute valuation and taxonomy of the patent management software industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.

Report Scope

The regional segmentation of the patent management software industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Further, country-wise data for the patent management software industry is provided for the leading economies of the world.

The patent management software market is segmented based on deployment and end-users. On the basis of deployment segmentation, the market is classified into cloud-based, and on-premises. Based on end-user, the market has been bifurcated into individuals, government, enterprises, universities, and research institutes.

Some of the essential players operating in the patent management software market, but not restricted to include

•  Anaqua Inc.
•  CPA Global
•  Gridlogics
•  IAMIP Sverige AB
•  Patrix AB
•  Questel
•  LexisNexis
•  AppColl
•  Alt Legal
•  MineSoft Ltd
•  PatSnap
•  Inteum Company LLC
•  Dennemeyer Group

The taxonomy of the patent management software industry by its scope and segmentation is as follows:

By Deployment Segmentation Analysis (Customizable)

• Cloud-based
• On –Premises

By End Users Segmentation Analysis (Customizable)

• Individuals
• Government
• Enterprises
• Universities
• Research Institutes

Regional Segmentation Analysis (Customizable)

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • The UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa