Global Patent Analytics Market to Surpass USD 2099.3 million by 2030 Driven by Increasing Research and Development
SkyQuest projects that the global patent analytics market will attain a value of USD 2099.3 million by 2030, with a CAGR of 12.7% during the forecast period (2024-2031). The increasing research and development (R&D) activity in healthcare, manufacturing, information technology and telecommunications, among others has accelerated the demand for analytical tools. End users in these sectors invest heavily by filing for IP rights prior to launching their new products. These trends are creating more opportunities for key players in the global patent analytics market. For example, according to the Samsung Electronics 2021 Business Report, the company will invest around 100,000 US dollars. invested $17.38 billion in R&D by 2021 and had 47,900 Korean patents and 10,000 U.S. patents. 84,202 patents added to the company’s 216,404 patents worldwide.
Westford, USA, Feb. 20, 2024 (GLOBE NEWSWIRE) — Research and development (R&D) activity is increasing in manufacturing, healthcare, information technology, and many other sectors. This has led to an increased demand for new patent assessment tools in the global patent analytics market. End-users operating in these industries invest heavily in the delivery of IP rights to their new products. These segments are predicted to expand the size of the market in the coming years.
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Browse in-depth TOC of “Patent Analytics Market”
● Pages – 157
● Tables – 98
● Figures – 76
Global patent analytics market growth is likely to increase with the increasing number of patents due to companies seeking protection for their inventions. With increasing concerns about how technology affects the environment and society, the Internet of Things and technological advances in industry are changing shape, creating complex and complex topics forming the basis for search for authorization is difficult.
Prominent Players of Global Patent Analytics Market
- 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
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IT & Telecommunication Segment to Dominate Market Owing to Increasing Number of Patents
The IT & Telecommunication segment is expected to dominate the global patent analytics market during the forecast period. This is due to the increasing number of patents filed for sophisticated technologies such as machine learning (ML), internet of things (IoT), artificial intelligence (AI), and cloud computing.
North America is expected to dominate the global patent analytics market in terms of market share. The increase is due to more IP rights being filed in more industries, including healthcare, information technology and telecommunications. Healthcare and IT & telecommunications sectors have many important companies in North America.
Solutions Segment to Witness Significant Growth Owing to Increasing Demand for Intellectual Property
The solutions segment is expected to grow in the global patent analytics market during the forecast period. This is due to increasing demand for intellectual property and business solutions, especially in sectors such as healthcare, IT and telecommunications.
Moreover, Asia Pacific is expected to grow at the highest CAGR in the global patent analytics market. The market in this segment is expected to grow owing to the increasing use of advanced analytical tools in China and India. Increased referrals in China, Japan, India, and other developing countries have also boosted the demand for the product.
A comprehensive analysis of the major players in the global patent analytics market has been recently conducted in this report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
Key Developments of Global Patent Analytics Market
- In January 2023, LexiNexis signed an agreement to acquire license distribution company Aistemos Limited (Cipher brand) to enhance its IP analytics capabilities This acquisition will enable LexiNexis’ customers to create custom technical classifications of their IP portfolio overall.
- In 2022, Samsung Electronics Co. Ltd. and IBM Corporation filed 6,248 and 4,389 U.S. patents, respectively. Patent and Trademark Office.
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Key Questions Answered in Global Patent Analytics Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how do these differences shape the market’s future growth?
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