Intellectual property software helps enterprises and users in efficiently and effectively protecting and managing their intellectual property. intellectual property software market analysis considers sales from the on-premises and cloud-based segments. Our analysis also considers the sales of intellectual property software in APAC, Europe, MEA, North America, and South America. In 2018, the on-premises segment held the highest market share, which is expected to remain prevalent over the forecast period. Factors such as the rising adoption of cloud-based intellectual property software by SMEs and ability of the on-premise software to efficiently plan and manage intellectual property tasks will significantly help the market segment in maintaining its leading position. Also, our global intellectual property software report has observed market growth factors such as the use of intellectual property software improves efficiency, rising investments in R&D, and need to comply with regulatory requirements. However, lack of strict intellectual property laws, growing threat from cyberattacks, and interoperability issue with legacy systems may hamper the growth of the intellectual property software industry over the forecast period.
Global Intellectual Property Software Market: Overview
Rising investments in R&D
Investments in R&D are increasing to develop and innovate new products across industries. As a result, the demand for intellectual property management software is increasing. This factor will lead to the expansion of the intellectual property software market at a CAGR of over 14% during the forecast period.
Use of AI with intellectual property software
Market vendors are increasingly deploying AI technology to transform processes. This will enable end-users to reduce time spent on administrative tasks and enhance their focus on strategic activities. Intellectual property software enabled with AI technology is more efficient in identifying information and providing faster and accurate results. Therefore, this trend will have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global intellectual property software market during the forecast period 2019-2023, click here.
With the presence of several major players, the global intellectual property software market is fragmented. robust vendor analysis is designed to help clients in improving their market positions, and in line with this, this report provides a detailed analysis of several leading intellectual property software manufacturers, which include Anaqua Inc., CPA Global Ltd., Gemalto NV, LexisNexis Legal & Professional, and TORViC Technologies Inc.
Also, the intellectual property software market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.