Value Market Research, in its latest report on the Global Enterprise's Intellectual Property Management Software Market states that the market was valued USD 5,158.9 Million (by revenue) in 2017 and is anticipated to reach USD 21,534.6 Million by 2024 with a CAGR of 22.7% between 2018 and 2024. The report assays key drivers, restraints, and challenges coupled with analysis of decisive business strategies of the top vendors. In the report the market size forecast for the next six years is broken down by region and application.
The market is gaining traction globally since companies are adopting it in order to protect their asset from unlicensed usage which can be detrimental to the entire business strategy. Additionally, the IP management system also provide collaborative IP management services for various corporate requirements. By adopting an IP management system many organizations have boosted their bottom-line by monetizing their IP assets.
The report titled “Global Enterprises Intellectual Property Management Software Market report is segmented By Module Type (Patent, Trademark, Design, Copyright, Litigation, IPAB (Intellectual Property Appellate Board), and Others), Service (Development And Implementation, Consulting, And Support And Maintenance) End-User (BFSI, Energy, Aerospace and Defense, Oil and Gas, Electronics and Semiconductors, Automotive, HealthCare, and Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation, and Forecast, 2017-2024” segments the market on the basis of Module Type, service, end-user, and region.
Increasing implementation of smart system management and rising need for staying competitive among organizations is encouraging software developer to invest in IP management system. Additionally, the rising emphasis on protecting and managing intellectual property portfolio is also serving as a major driving factor for this market. The market is also expected to gain growth from the strategic partnership between the major industries. However, with all the numerous advantages associated, this system also has few challenges and obstacle especially in the initial stages of setup in the organization. Therefore, high investment cost can actually impede the market growth to some extent.
By module type the market is divided into patent, trademark, design, copyright, litigation, IPAB (Intellectual Property Appellate Board. Among which, the patent is highly preferred module type owing to rising focus of organization on protecting their intellectual assets by gaining patents. On the basis of service, the market is segmented into development and implementation, consulting, and support and maintenance. Development and implementation are gaining hype in the market owing to increasing demand for high quality and performance of intellectual property software by end-use industries. By end-user, the market is split into BFSI, energy, aerospace and defense, oil and gas, electronics and semiconductors, automotive, healthcare, and others. Banking and financial service accounted for leading end users segment owing to rising demand for protecting confidential data and trade secrets of the organization.
Based on the geography, the market is studied across the region of North America, Europe, Asia-pacific, Latin America, and Middle East & Africa. Asia-Pacific is ruling the global enterprise's intellectual property management software, owing to growing banking and financial sector in emerging countries such as China and India.
The Report Segments Global Enterprise Intellectual Property Management Software Market -
By Module Type
Anaqua, Inc., CPA Global, FlexTrac, IPfolio, Lecorpio, Patrix AB, Pattsy, SimpleLegal, and WebTMS are the key players of enterprises intellectual property management software market.
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