The global IP Renewals Services market worth US$ 14.9 Bn by 2032, growing at a CAGR of 12.7%
The global IP renewals services market is anticipated to reach close to USD 10 million by 2028 and grow substantially at a CAGR of 5% in the forecast period 2021 to 2028. This growth can be attributed to developments in IP protection, enforcement, and growing initiatives of public and private firms to strengthen IP assets. In addition, development and awareness related to IP protection and renewal in the multilateral and bilateral organizations has fueled global and regional developments in Global IP Renewals services market.
The entire end-to-end process of maintaining and protecting intellectual property is highly cost intensive, more significantly when the design, methodology and processes are complex. These challenges are likely to limit full-fledged growth in the global IP renewals services market. IP renewals service providers offer tailor-made services, increases economic security for the businesses, brands, developers, and the like. Moreover, there are ongoing systemic issues regarding IP protection with many trading partners across the world, encouraging businesses to adopt the IP protection and renewals services. These factors are anticipated to be an opportunity for the Global IP renewals services market.
IP renewals services comprise user-friendly and cost-efficient practices to protect brand innovation and design inventions across the globe. These services are used to mitigate challenges and protect brand specific intellectual property (IP) for out-of-court settlements. IP renewals services are used extensively by small and large organizations to expedite businesses outcome in cost-efficient ways, thereby solidifying competitive edge amidst staggering competition. There are several types of IP renewals services such as copyright protection and trademark protection. Trademark protection is highly complex and includes several formalities. Trademark protection is used to protect company assets such as logo and brand names.
The key players of the Global IP Renewals Services Market are Anaqua, CPA Global, Dennemeyer, IP Centrum, ipan, IPRIS and IP Pragmatics, Clarivate, MaxVal, and Valipat Envoy among others. The market comprises local and global players that provide innovative and tailor-made solutions to their clients across the globe. Additionally, the established market players are coming up with customized services offering unique software and services for efficient management of the IP assets. This has made the market players stand out in the global IP renewals services market.
The IP asset management service providers face fierce competition from new entrants and emerging players as they provide modern and effective IP protection and enforcement for the inventors, product developers, brands creators, manufacturers, and service providers, which, in turn has secured the innovation-driven sectors. IP intensive industries are manufacturers, technology developers, software developers and publishers, agricultural products producers, owners of creative and cultural works, business owners, and innovators rely heavily on the IP renewals service providers boosting the global IP renewals services market.
Ip Renewals Services Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2032||US$ 14.9 Bn|
|Growth Rate||CAGR of 12.7% during 2021-2032|
|Segment Covered||By Component, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Aistemos Ltd.,Anaqua Inc.,Clarivate Analytics,Dennemeyer Group,Innovation Asset Group Inc.,LexisNexis Legal & Professional,Patrix AB|
Key Segments of the Global IP Renewal Services Market
Type Overview, 2018-2028 (USD Million)
Application Overview, 2018-2028 (USD Million)
- Research Institute
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
- Rest of South America
Middle East and Africa
Reasons for the study
- The purpose of this study is to present the exhaustive outlook of global IP renewals services market and benchmark the interested market players against the market.
- Ensure readers’ stay ahead of the competition.
- To present market trends and recent developments including technology interventions in the market.
- To discuss the key aspects influencing the market such as drivers, threats, market trends, and feasible region-wise opportunities.
What does the report include?
- The study on the global IP renewals services market includes detailed information about the major players along with focus on the versatility of manufacturers.
- The study covers profiles of leading players based on analytical standards and research methodologies such as SWOT analysis and PEST analysis.
- The study provides market size assessments, study by value and volume, CAGR and GDP evaluation of the market.
- Current and future market trend analysis.
Who Should Buy the Report?
- The report on the global IP renewals services market is suitable for diplomats, R&D experts, and other interested public.
- Consultants, academicians, R&D experts, manufacturers, investors, raw material providers, and all the delegates.
Frequently Asked Questions (FAQ) :
The growing focus on adopting effective IP protection and enforcement solutions has served as a critical factor for Global IP renewals services market. The IP renewal services have become primary focus of businesses as they offer enhanced decision support for IP assets, accurate reporting of trademark issues on main IP products, cost saving in patent renewal fees and coverage of the most comprehensive insurance policies. Additionally, it offers required information of the renewal IP assets, protection to potentially high value assets, professional and safe handling of the IP assets.
Also, the IP renewal services allow the companies to mitigate the risks pertinent to the IP assets and cover all the eventualities. Increasing number of organizations are using IP renewal services to get a detailed understanding of strengths and weaknesses of their IP portfolios and the competitor overview of the business. The IP renewal services provide safety to IP assets and facilitate better IP decisions for business thereby providing an opportunity to the growth of Global IP Renewals Services Market.
The IP renewals services market is in demand for past several years as IP asset owners face wide range of concerns, including challenges against counterfeits, changing online environment, increasing online and broadcast piracy, inadequacies in trade secret protection and enforcement in countries including Russia, China, India, US, UK., besides other countries.
Based on the type segment, the market is classified into patents, trademarks, industrial designs, and others. Previously, the patents segment grew significantly with increased business awareness and new business establishments. The patent segment allows the service providers to protect organizations environment through curated industry-best practices. The aforementioned advantages offered through the patents segment is expected to play a key role in the business environment and grow at the faster rate in the projected period. Furthermore, the trademark Segment acquired the largest share in the market during the forecast era.
Based on the Application segment, the market is split into corporate, research institute, university, and others. The corporate segment held the maximum share in the past and it is projected to witness good growth in the forecast years. This growth in the segment is mainly attributed to IP protection due to increasing number of IP thefts, globalization, and more.
The North American region dominated the Global IP Renewals Services Market in 2020. The region is anticipated to maintain its market position in the forecast years 2021-2028. Other countries ranked in the IP Renewals Services Market are China, U.S, Germany, Japan, Republic of Korea, France, UK, Italy, India, Switzerland, Iran, and Russian Federation. The strong growth in these countries is ascribed to increasing renewal activities for patents, trademarks, industrial designs, and resident applications. The IP intensive business in these countries such as manufacturers, technology developers, software developers and publishers, agricultural products producers, owners of creative and cultural works, business owners, and innovators rely heavily on the IP renewals service providers. These diverse groups of IP-intensive industries play a prominent role in the Global IP Renewals Services Market. Moreover, other ongoing, systemic issues regarding IP protection with many trading partners across the world has inclined the business owners in these countries to adopt the IP protection and renewal services.