What is the global market size of Patent Analytics Market?

Global Patent Analytics Market size was valued at USD 813.2 million in 2021 and is poised to grow from USD 907.6 million in 2022 to USD 2099.3 million by 2030, growing at a CAGR of 12.7% in the forecast period (2023-2030).

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 News

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.

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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).

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. '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'

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.

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.

Based on the region, the North American region is projected to dominate the 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.

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