Owing to benefits such as the provision of a secured system that is well-documented and can successfully manage intellectual properties, the global intellectual property protection market is experiencing a surge in its demand lately. There has been a greater demand for this software in comparison to its other traditional alternatives.
The need for protecting IP assets from being duplicated, and pirated and also to monetize these assets has been one of the major drivers of demand in this market. These factors have further propelled the demand for intellectual property protection thus, increasing the dependence on this market.
Rapid end-use applications across system integrators, application design and software developers, universities, the music industry, sports clubs, market research and consulting firms, cloud service providers, entertainment broadcasters, technology consultants, and the like are fostering remarkable progress in the global intellectual property protection market. The market consistently undergoes a series of developments in order to provide better services.
Advantages such as protection of ideas and innovations of an organization by means of a lawful approach by offering exclusive rights to the owners thereby, enabling them to reap the commercial benefits of their innovations and encouraging further adoption of the global intellectual property protection market in the long run. Considering these factors, it is reasonable to say that the global intellectual property protection market is growing at an appreciable compound annual growth rate (CAGR) of 15.75%. It is expected that the market might acquire a size of USD 24.2 billion during the forecast period, that is, 2021-31.
The Intellectual Property Management software allows IP owners to protect and efficiently store their intellectual properties under a copyright, trade secret, software patent, or trademark. It also assists them in streamlining access to their personal intellectual property data. Due to benefits like these, the global intellectual property protection market is experiencing wide adoption among various organizations as it offers efficient services to its clients.
The significant rise in demand by organizations to ensure the protection of their IP assets and develop better management of their royalties from multiple accounts and also increase their profitability while generating a larger overall revenue is also responsible for propelling the growth of the global intellectual property protection market.
However, there are a number of limitations that are linked to the global intellectual property protection market. There is a requirement for a high-cost caption at the time of implementation of these protection services. The software tool demands huge investments while the software itself is very difficult to afford by small and medium-sized enterprises. Thus, many SMEs are reluctant and take a step back before investing in the global intellectual property protection market. In spite of all these restraints, the market is expected to experience a considerable rate of growth with new additions and developments that might take place in the market during the forecast period, that is, 2021-31.
Integrated Solutions Type to Remain the Most Lucrative Segment
In terms of solution type, the market is segregated into standalone and integrated. Though organizations deploy these solutions depending on their size and requirement, recently the demand has been seen to shift from standalone solutions to integrated solutions due to the increased size and processes of organizations.
Large Enterprises to Remain Dominant During the Study Period
On the basis of the size of the organization, the global intellectual property protection market is segmented into small and medium-sized enterprises and large enterprises. During the forecasted era, which is from 2021 to 2031, large companies are more likely to keep their market leadership. They are anticipated to experience faster compound annual growth rate (CAGR) than small and medium-sized businesses (SMEs).
Service will have the Highest Revenue Yielding Sector
The service category is predicted to increase at a faster pace throughout the projection period when broken down by components. In the process of deploying intellectual property management software, these services are essential. During the time of the study, this market segment is anticipated to expand at a compound annual growth rate (CAGR) of nearly 16%.
The Commercial Segment to be the Most Potential End-User
The commercial segment is more likely to emerge as the more potential end user among the two. The expansion of banks and financial institutions around the globe is another factor contributing to the expansion of this market.
Europe region is Expected Investment Opportunities
The division is made into North America, Europe, Asia Pacific, Middle East and Africa, and South America based on the regions. Throughout the time of the study, North America is anticipated to continue to dominate the market in terms of share. This region is making large investments in order to acquire intellectual property rights so as to protect their valuable assets and innovations across different industries like IT &Telecom, Healthcare, life sciences, etc.
Covid-19 Impact and Market Status
The crisis of the novel coronavirus was received by different industries in varying manners. The production process got adversely affected and the flow of raw materials was disturbed. The demand and supply chain was impacted negatively. Due to various regulatory measures imposed by the government, the manufacturers had to bear a number of challenges. The global intellectual property market experienced a negative impact on its growth rate. Despite these setbacks, the market is all geared up to acquire a moderate rate of growth during the forecast period, that is, 2021-31 as the restrictions are gradually being relaxed along with the opening up of trade channels and easing of supply chains.
The key players in the global intellectual property protection market are Dependable Solutions, FADEL, IPfolio, Klopotek, CPA Global, Vistex Inc., Lecorpio, Anaqua Inc., and Film Track among others. These players operate in the market and adopt a number of strategies to stay in the market and establish themselves at a higher position than their competitors.
Latest Innovations in the Global Intellectual Property Protection Market: a Snapshot
• On December 31, 2022, L.B. Foster Company stated that Mr. Robert S. Purgason and Ms. Suzanne B. Rowland would resign from their positions as directors of the company. On January 1, 2023, Ms. Janet Lee would take their places. Ms. Lee established the legal and intellectual property team that managed ANSYS' growth.
Intellectual Property Protection Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||USD 24.2 billion|
|Growth Rate||CAGR of 15.75 % during 2022-2031|
|Segment Covered||by Solution Type, Organization Size, by Component, by End Use, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Dependable Solutions, FADEL, IPfolio, Klopotek, CPA Global, Vistex Inc., Lecorpio, Anaqua Inc., and Film Track among others.|
Key Segments of the Intellectual Property Protection Market
Solution Type Overview, 2021-2031 (USD Billion)
Organisation Size Overview, 2021-2031 (USD Billion)
- Large Enterprise
Component Industry Overview, 2021-2031 (USD Billion)
End- Use Overview, 2021-2031 (USD Billion)
Regional Overview, 2021-2031 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America