Intellectual Property Management Software Market Size, Share, Growth Analysis, By Component(Service, Software), By Deployment(On-premise, Cloud), By End Use(Individual, Commercial), By Region - Industry Forecast 2024-2031

North America is expected to control the intellectual property management software market share. North America dominated the market, accounting for more than 40% of worldwide sales in 2021. The region's rise can be ascribed to end-users' strong knowledge of intellectual property and its management, a large number of internet users in the United States and Canada, and the presence of businesses such as Anaqua Inc., CPA Global, and Questel in the United States. Furthermore, the region's large majority of intellectual property offices is helping market growth. According to WIPO data, intellectual property offices in North America accounted for more than one-fifth of all IP offices worldwide in 2019.

Asia Pacific held the second largest position in market. The growing number of IT and telecom firms, combined with numerous automobile production units in countries like India and China, is expected to drive regional market expansion. According to Tech Mahindra's CEO and Managing Director, the pandemic has enhanced the rate of technology adoption as IT companies got virtual. As a result, cloud-based digital solutions would improve agility, enable hybrid workspaces, and enable IP-led innovation for India's information technology-enabled services (ITeS) industry, which has been at the forefront of digital transformation and enterprise. Huawei released a new white paper on innovation and intellectual property in March 2021 at the Forum on Innovation and IP Prospects in 2021 and beyond. Huawei asserted that it became one of the world's largest patent holders through investing in innovation on a consistent basis. By the end of 2020, Huawei had over 100,000 active patents in over 40,000 patent families around the world.