Patent Management Software Market Gain Impetus due to the Growing Demand over 2028
A patent management software helps its users with the management of the due deadlines so that they can be met accurately, creation of a centralized case repository, and the power to manage patent cases efficiently. A patent management software helps users to prepare and store search reports as well as store patent inquiries. With the help of a patent management software, one can monitor the inquiry to patent application conversion success failure ratio, as it allows the conversion of inquiries to case application dockets. A patent management software manages the cases handled by IP law firms by providing a powerful engine. A patent management software makes the work of IP law firms highly productive and simplified by providing storage and retrieval of case documents and complete processing. A patent management software helps create and manage cover letters, forms, pending hearing due dates, renewals, and case details. A patent management software provides a template designer, which helps staff to easily manage and create cover letters in Word format. A patent management software also helps gain and maintain patents across its entire lifecycle.
Global Patent Management Software Market: Dynamics
A patent management software provides collaborative patent management services for different corporate requirements. This increasing emphasis on managing and protecting patents is driving the growth of the patent management software market. Frequent customization is done in the product by end users, which benefits the patent management software market, as it protects and safeguards the essentials of the patents in a systematic manner. As more and more organizations are focusing on protecting their patents from unlicensed usage and organizing them tactically, the adoption of patent management software market is gaining traction, which is another factor fueling the growth of the patent management software market.
Even with all these associated benefits, patent management software face a number of obstacles and challenges, predominantly during the initial stages, most of which have to do with the high cost of setting up the patent management software in an organization. Hence, high initial investment can restrain the growth of the patent management software market during the forecast period.
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Global Patent Management Software Market: Segmentation
The global patentmanagement software market can be segmented on the basis of set of cases, service type, end user, and region.
Patent Management Software Market by Set of Cases
National Phase Application
Patent of Addition Application
Patent Management Software Market by Service Type
Development and Implementation
Support and Maintenance
Patent Management Software Market by End User
Banking and Financial Services (BFSI)
Aerospace and Defence
Oil and Gas
Electronics and Semiconductors
Global Patent Management Software Market: Competition Landscape
In June 2018, Inteum Company, LLC partnered with U.K.-based online patent renewals service, RenewalsDesk. With the help of this partnership, Inteum’s customers will be provided with an integrated utility, through which they can manage their patent renewal fees directly from Inteum’s system.
Key vendors in the patent managementsoftware market areAmbercite, Anaqua, Inc., Aistemos, Clarivate Analytics, Gridlogics, Innovation Asset Group, Inc., Innography, Inc., Inteum Company, LLC, IP Checkups, Inc., IP Street Holdings, LLC, LexisNexis, IPfolio, Minesoft Ltd., O P Solutions, Inc., Patrix AB, Dennemeyer, PatSnap Pte. Ltd., Questel, Wellspring Worldwide, and Iolite Software Inc.
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Global Patent Management Software Market: Regional Outlook
Geographically, the patent managementsoftware market can be segmented into North America, Western Europe, Latin America, Eastern Europe, Asia Pacific excluding Japan (APEJ), Middle East and Africa (MEA), and Japan.
North America is expected to hold the largest market share of the patent management software market, due to the high awareness and growing application of patent rights amongst end-use industries in this region.
Asia Pacific is expected to increase its dominance in terms of growth in the patent management software market, owing to the consistent growing demand from India and other developing countries.
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