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The market is growing as analytics drive predictive insights and informed decision-making, enhancing efficiency and strategic outcomes.
WILMINGTON, DE, UNITED STATES, March 18, 2025 /
EINPresswire.com/ -- The global
patent analytics market is growing due to several factors such as the need to protect the latest inventions from being used by others and cloud computing to encourage intellectual property rights. In addition, the use of analytics to make predictions and reach conclusions is fueling the growth of the market.
Allied Market Research published a report, titled, "Patent Analytics Market by Services (Patent Landscapes/White Space Analysis, Patent Strategy and Management and Patent Valuation), Component (Software and Services), Enterprise Size (Large Enterprises and Small and Medium-sized Enterprises), and Industry Vertical (BFSI, IT & Telecom, Automotive, Healthcare and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the patent analytics market was valued at $1.0 billion in 2023, and is estimated to reach $3.4 billion by 2032, growing at a CAGR of 14% from 2024 to 2032.
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The global patent analytics market is growing due to several factors such as the need to protect the latest inventions from being used by others and cloud computing to encourage intellectual property rights. In addition, the use of analytics to make predictions and reach conclusions is fueling the growth of the market. However, high transactional expenses related to software and patent applications are hampering the growth of the market. Furthermore, the growing investments in the fields of research & development to innovate products and technologies are providing lucrative opportunities for the growth of the patent analytics market during the forecast period.
Based on the services, the patent landscapes/white space analysis segment held the highest market share in 2023. This is largely due to the growing demand for innovation mapping and competitive benchmarking across various industries.
Based on the component, the software segment held the highest market share in 2023. This dominance is attributed to the increasing adoption of patent analytics software solutions that help businesses automate the process of patent search, analysis, and reporting.
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Based on the enterprise size, the large enterprise segment held the highest market share in 2023, as more large enterprises are considering the extraction capabilities for getting valuable insights from big data, which is opportunistic for the patent analytics market.
Based on the industry vertical, the IT & telecom segment held the highest market share in 2023. Mostly, patent filings are witnessed in the industrial sectors such as electrical machinery and computer technology. The majority of the telecom industries are filing patent applications that are associated with wireless communication, data transfer, and techniques of organizing and monitoring digital data.
Based on region, North America held the highest market share in terms of revenue in 2023. This can be attributed to developments in technology and the prominence of market participants, notably in the U.S. Additionally, venture capitalists' investment of new competitors is expected to lessen competitiveness in the industry.
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Players: -
Clarivate Analytics
Intricate Research
IDTechEx Ltd
Anaqua Inc.
Wynne-Jones IP Limited
Ocean Tomo LLC
Harrity & Harrity LLP
IP Wagon Pvt. Ltd.
PatentSight GmbH
Excelon IP
The report provides a detailed analysis of these key players in the global patent analytics market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Recent Industry Development:
In May 2024, Geneva launched a new version of its patents and licenses database, MedsPaL. MedsPaL is a free resource that provides crucial information on the intellectual property status of patented essential medicines, COVID-19 vaccines, and long-acting platform technologies, with a particular focus on low- and middle-income countries (LMICs) .
In December 2023, LexisNexis PatentSight+ launched its Chinese user interface, marking a significant stride towards enhanced accessibility and user-friendliness. This development is a testament to the company’s unwavering commitment to meeting the evolving needs of their global user base.
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