Intellectual Property Software Market set for rapid growth forecast 2020-2026| Key Players: TORViC, Technologies Inc. , Innography Inc., LexisNexis, Clarivate Analytics, IPfolio, Wellspring, Worldwide, XLPAT, Ambercite, IP Checkups, Inc., Aistemos Limited
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Top Players List:
o TORViC Technologies Inc.
o Innography Inc.
o Clarivate Analytics
o Wellspring Worldwide
o IP Checkups, Inc.
o Aistemos Limited
o Alibaba Group
Integration of internet of things with the system is a major factor anticipated to fuel the demand in the market during the forecast period 2018-2025. Additionally, the rising adoption of e-financial services is expected to boost the global market.
Key Industry Developments
o April 2018- Alibaba Tech Team to develop their new branch management mode 'AoneFlow', which helps to gain and maintain patents, trademarks, licenses and rights across the intellectual property lifecycle. Similarly, leading companies, like Apple Inc., Xiaomi, Huawei, and HTC have their advance IP business departments focused on advanced R&D across the global market.
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Rising Adoption of Enterprise IP Management Softwares to Drive Market
Various factors are responsible for boosting the global intellectual property software market. A key factor contributing to the growth of the market is the rising adoption of Internet of Things (IoT) and increasing use of intellectual property software across numerous end-use industries. The fact that intellectual property software offers a wide range of applications including intellectual property filings, patent landscape, business strategies, and prior art search, will boost the market.
The rising demand for efficient and effective management of intellectual properties by market vendors will help the market to gain momentum in the coming years. Moreover, the rising emphasis of companies towards protecting intellectual assets by gaining licenses, and patents for their technological innovations will create growth opportunities for the market.
An important factor propelling demand for intellectual property software market is the rising illegal and unauthorized sale of intangible and tangible assets and duplication of products. This will further trigger large-scale adoption of enterprise IP management software during the forecast period, thus growth in the market.
Various end-use industries are adopting patent management software for protecting their intellectual assets. This is owing to the transition into digital economy business model that the market will reach higher limits and earn huge revenues.
However, high cost incurred on the installations and maintenance of this software and complexities associated with the life cycle of this property software may hamper the market. Furthermore, lack of awareness about this software and its uses is also restricting the market's growth.
Nevertheless, the rapid expansion and development of information and communication technologies and increasing awareness about adopting intellectual property software programs in developing nations are likely to offer lucrative growth opportunities to the market in the long run.
Key Market Driver - Evolution of businesses to paperless or cloud-based business models
Key Market Restraint - Pirating and reduced quality,
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Major Segments Mentioned:
1. By Deployment
o Cloud-based solutions
2. By Services
o Development & Implementation Services
o Consulting Services
o Maintenance & Support Services
3. By Applications
o Patent Management
o Trademark Management
o Intellectual Property (IP) Portfolio Management
o Intellectual Property (IP) Reporting & Analytics
4. By Industry Vertical
o IT & Telecommunication
5 By Geography
o North America (the USA and Canada)
o Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
o Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
o Latin America (Brazil, Mexico and Rest of Latin America)
o Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Adoption of Intellectual Software in Various End-use Industries Creates Growth Opportunities
Developed countries such as Canada and the U.S. have well-established markets for advance IP management and cloud-computing. This is expected to be enable growth of the market in North America, enabling the region emerge dominant in a global scale. The Asia Pacific market is expected to show growth at a faster pace in the coming years on account of implementation of internet of things and rising popularity of digitalization for various end use industries such as banking, retail, and others.
As stated in the report, North America held a significant share in the market in 2017. The region is expected to witness impressive growth during the forecast period. Owing to intense research and development taking place in the region for IoT integration in the system is likely to enable the growth in the region. Besides this, Asia Pacific is expected to witness promising growth owing to the rising adoption of a sedentary lifestyle in nations such as India and China.
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/intellectual-property-software-market-100330
Major Table of Content for Intellectual Property Software Market:
2. Executive Summary
3. Market Dynamics
4. Key Insights
5. Global Intellectual Property Software Market Analysis, Insights and Forecast, 2026
6. North America Intellectual Property Software Market Analysis, Insights and Forecast, 2026
7. Europe Intellectual Property Software Market Analysis, Insights and Forecast, 2026
8. Asia Pacific Intellectual Property Software Market Analysis, Insights and Forecast, 2026
9. The Middle East and Africa Intellectual Property Software Market Analysis, Insights and Forecast, 2026
10. Latin America Intellectual Property Software Market Analysis, Insights and Forecast, 2026
11. Competitive Landscape
12. Company Profile
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