The Patent Analytics Market Size was estimated at USD 904.1 million in 2022, and it is anticipated to increase from that amount to USD 1,007.8 million in 2023 to USD 2,364.6 million by 2030, with a CAGR of 13% over the course of the forecast period.
To separate, automate, and analyze searches for intellectual property (IP), many companies use patent analytics software. The demand for analytics solutions has increased as a result of the rising number of patent filings around the world as a result of increased R&D activities. Approximately 277,500 patent applications were filed globally in 2021, according to a World Intellectual Property Organization (WIPO) report. Moreover, market leaders are concentrating on integrating cutting-edge technologies into their analytics solutions to provide services like advanced search and exploration.
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Information about the report:
- Forecast Timeframe:2023-2030
- The starting year is 2022
- Market Size in 2022 - USD 904.1 million
- The market size in 2030 will be USD 2,364.6 million
- CAGR - 13%
- Segments Included: according to deployment type, application, enterprise type, sector, and geographic region
The Patent Analytics Market is a large and growing sector that covers various aspects, such as market size, market share, market segment, and industry. The total amount of money that service providers make from offering their products to customers is referred to as the market size. Market share is the portion of the market that a single provider or a group of providers controls. The term market segment refers to the different categories of applications based on their functions, features, or target users. The term industry refers to the different sectors or domains that use applications for their business operations or activities.
Analyses of the worldwide Patent Analytics Market are conducted across regions, end-user industries, and material types. The study thoroughly examines segments and their sub-segments with the aid of tabular and graphic depictions. The segmentation can help investors and market participants create plans based on the report's list of the segments with the highest revenue growth rates.
By Component Analysis,
The global market is split into two categories based on components: solutions and services.
The services sector is further broken down into the following categories: analysis of patent landscapes and white space, strategy and management, valuation, support, and other services. The largest market share belongs to the sub-segment of strategy and management, which is driven by the rising demand for customized services among SMEs and big businesses.
By Enterprise Size Analysis,
The market is split into large-scale enterprises and SMEs based on the size of the enterprise.
Due to an increase in patent filings by eminent companies like Samsung Electronics Co., Ltd., IBM Corporation, L.G. Electronics, and Intel Corporation, this market segment has seen the highest growth rate.
By End-user Analysis,
The healthcare and pharmaceutical, automotive, information technology and telecommunications, food and beverage, banking, financial services, and insurance (BFSI), media & entertainment, and others (government, education) end-user segments make up the market.
By Key Industry Analysis,
Leading suppliers of software and services for patent analytics, including IBM Corporation, LexisNexis, Anaqua, Inc., Harrity & Harrity, LLP, and Clarivate Analytics Plc, are implementing cutting-edge solutions and services by fusing artificial intelligence, cloud computing, and other technologies.
List of Key Companies Profiled:
- Anaqua, Inc. (U.S.)
- Clarivate Analytics Plc (U.K.)
- LexisNexis (U.S.)
- Gridlogics (India)
- Harrity & Harrity, LLP (U.S.)
- IBM Corporation (U.S.)
- Minesoft Ltd. (U.K.)
By Region
Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa are the five main geographic divisions of the market. They are further divided into nations.
In the upcoming years, North America is anticipated to dominate the industry. The increase is the result of more IP rights being filed in healthcare, IT, telecommunications, and other industries. Many important businesses that work in the healthcare IT and telecommunication industries are located in this area.
The study report provides a thorough analysis of the “Patent Analytics Market” size globally, including regional and country-level market size analysis, CAGR estimation of market growth during the forecast period, revenue, key drivers, competitive background, and sales analysis of the payers. The paper also discusses the principal risks and challenges that will be encountered over the projected period. The Patent Analytics Market is divided into two categories: type and application. Players, stakeholders, and other participants in the global Patent Analytics Market industry will be able to gain the upper hand by using the study as a valuable resource.
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