USD 813.2 million
Patent Analytics Market Size, Share, Growth Analysis, By Component(Solution, Services (Patent Landscapes/White Space Analysis Services, Patent Portfolio Management Services, Patent Valuation Services), By Enterprise Size(Large Enterprises, Small & Medium Enterprises), By End-user(Automobile, BFSI, IT & Telecom, Healthcare), By Region - Industry Forecast 2024-2031
Report ID:
SQSG45B2019 |
Region:
Global |
Published Date: July, 2001
Pages:
165
|Tables:
98
|Figures:
76
Patent Analytics Market Insights
Global Patent Analytics Market size was valued at USD 813.2 million in 2019 and is poised to grow from USD 907.6 million in 2023 to USD 2099.3 million by 2031, growing at a CAGR of 12.7% in the forecast period (2024-2031).
Intellectual property (IP) searches are frequently analyzed, separated, and automated using patent analytics software. The need for analytics solutions has been spurred by an increase in patent filings globally as a result of increased R&D activity. According to the World Intellectual Property Organization (WIPO), the total global patent application filings reached 2,77,500 applications in 2019, increasing by 0.9% from 2,75,900 applications in 2019. Leading market companies are also concentrating on implementing analytics solutions' technology to provide services like improved search and exploration.
US Patent Analytics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
IT & Telecom
Fastest Growth
IT & Telecom
Growth Rate
12.7% CAGR
Global Patent Analytics Market 2022-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Patent Analytics Market Segmental Analysis
The Global Patent Analytics Market is segmented based on component, enterprise size, end-user and region. Based on the component, Patent Analytics Market is categorized into Solution and Services. The services segment is further categorized into Patent Landscapes/White Space Analysis Services, Patent Portfolio Management Services, Patent Valuation Services, Patent Monitoring Services, Strategic Reporting Service, and Patent Monetization Support Services. Based on Enterprise Size, Patent Analytics Market is categorized into Large Enterprises and Small & Medium Enterprises. Based on End-user, Patent Analytics Market is categorized into Automobile, BFSI, IT & Telecommunication, Healthcare, Media & Entertainment, Government, Semiconductor, and Manufacturing. Based on region, Patent Analytics Market is categorized into North America, Europe, Asia Pacific, The Middle East and Africa, and Latin America.
Patent Analytics Market Analysis by Component
On the basis of components, the solutions segment is projected to dominate the global patent analytics market, over the forecast period. This is largely due to the rise in demand for intellectual property professional solutions and applications across a variety of industries, including healthcare, information technology, and telecommunications.
Along with this, the strategic reporting services and patent portfolio management services are also expected to show significant growth during the forecast period. This is due to the growing need for specialized services among large-scale and small & medium scale enterprises.
Patent Analytics Market Analysis by End-user
On the basis of end-user, the IT & Telecommunication segment is projected to dominate the global patent analytics market, over the forecast period. This is due to the increasing number of patent filings for cutting-edge technologies like machine learning (ML), the internet of things (IoT), artificial intelligence (AI), and cloud computing.
Additionally, the outbreak of covid-19 sparked new developments in the healthcare sector. As a result, the market's leading players are concentrating on creating cutting-edge solutions to meet the demand from various healthcare sectors, which is also fueling the sector's market expansion. For instance, Harrity Analytics created a patent analytics platform for IAM Medical in April 2021 that focuses on medical diagnostics in order to comprehend the impact of applications and grants.
It is projected that other segments, including food and beverage, automotive, BFSI, media and entertainment, and others, would expand at a significant growth rate, during the forecast period.
Global Patent Analytics Market By End-User, 2021 (%)
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Patent Analytics Market Regional Insights
Based on the region, the North American region is projected to dominate the global patent analytics market with respect to market share. The increase is the result of more IP rights being filed in several industries, including healthcare, IT, and telecommunications. In the healthcare and IT & telecommunications sectors, North America is home to several important firms.
Europe is also expected to show a significant growth, due to increased investment in product development, end-use industries in the region, including healthcare, manufacturing, automotive, and others, are adopting analytics technologies. According to the European Patent Office (EPO), around 1,88,600 patent applications were submitted to the EPO in 2021, a 4.5% increase from 2020.
Apart from that, Asia Pacific is expected to experience the highest CAGR growth. The region's market is expected to develop as a result of China and India's increasing use of advanced analytics tools. The demand for the product has also been boosted by the rise in filings in China, Japan, India, and other developing nations.
Global Patent Analytics Market By Geography, 2022-2028
- Largest
- Fastest
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Patent Analytics Market Dynamics
Patent Analytics Market Drivers
- Rising R&D investments and annual filings of IP rights: The demand for analytics tools has increased as a result of increased research and development (R&D) activities in industries such as healthcare, manufacturing, IT & telecommunications, and others. Before introducing their cutting-edge products, end customers in these sectors spend a lot of money registering their intellectual property rights. For major industry players, these important elements open up a lot of opportunities.
Patent Analytics Market Restraints
- High software and service transactional costs: Patent analytics software is used for commercial intellectual property rights searches and negotiation services. The high implementation and transaction costs associated with this software have limited the demand for patent applications in poorer countries. For instance, depending on the type of patent searching and application filing, the cost of the patent analytics solutions and services provided by companies like Gridlogics, Harrity & Harrity, LLP, and others ranges from USD 1,000 to USD 5,000 each year.
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Patent Analytics Market Competitive Landscape
The leading businesses are extending their range of services and solutions by providing solutions in developing nations. With competitors offering highly developed solutions & services by integrating cutting-edge technologies like cloud computing, artificial intelligence, and others, the patent analytics market is incredibly fragmented. The main goal of dominant firms is to diversify their offerings by offering services and solutions on a worldwide level. To maintain a competitive edge in the market, players are concentrating on putting various business strategies into practice, such as launching, mergers & acquisitions, and releasing fresh goods.
Patent Analytics Market Top Players Company Profiles
- Anaqua, Inc.
- Clarivate Analytics Plc
- LexisNexis
- CPA Global
- IPlytics
- Questel
- PatentSight GmbH
- Innography
- PatentVue
- Minesoft
- Patent iNSIGHT Pro
- PatSnap
- Derwent
- Relecura
- PatentWizard
- Aistemos
- Inteum Company
- Gridlogics Technologies Pvt Ltd
- IP Checkups
- Ambercite
Patent Analytics Market Recent Developments
- In July 2021, USPTO launched Artificial Intelligence Patent Dataset (AIPD). The AIPD is built with ML capabilities. The dataset is utilized to identify 13.2 million pre-grant patents and publications in the U.S. that contain AI.
- In June 2021, Ocean Tomo acquired a Virginia-based financial forensics organization, Veris Consulting. The acquisition aims to expand the management, financial expertise, and advisory services. Veris Consulting offers additional capabilities to address disputes and insolvencies, auditing standards, and economic damages.
- In January 2021, IPRally, search engine and patent analytics software provider, received around USD 2.36 million funding from Spintop Ventures and Join Capital. This funding was made to accelerate and expand product development using AI technology to understand the patent information.
Patent Analytics Key Market Trends
- Increasing popularity of a Cloud Computing and IP Management Platform: Due to the cloud's ability to store enormous volumes of data, many businesses are implementing it to streamline operations. To deliver analytics solutions, major market participants are concentrating on using cutting-edge technologies like cloud computing, Big Data, and Artificial Intelligence (AI). For instance, the World Intellectual Property Organization (WIPO) debuted its new cloud-hosted WIPO IP Office Suite in May 2021. The tool aims to raise the security, dependability, and productivity of collaborating intellectual property (IP) offices.
Patent Analytics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to the analysis, the global patent analytics market is currently led by countries in the North American region, due to the increasing number of IP rights being filed in several industries, including healthcare, IT among others. Along with this, the solutions segment is projected to dominate the global patent analytics market, due to the rise in demand for intellectual property professional solutions and applications across a variety of industries.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 813.2 million |
| Market size value in 2031 | USD 2099.3 million |
| Growth Rate | 12.7% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Patent Analytics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Patent Analytics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Patent Analytics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Patent Analytics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Patent Analytics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Patent Analytics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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