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Patent Analytics Market by Services (Patent Landscapes/White Space Analysis, Patent Strategy and Management, Patent Valuation), by Component (Software, Services), by Enterprise Size (Large Enterprises, Small Medium Enterprises) and by Industry Vertical (B
Global Patent Analytics Market
Patent analytics is the process of analyzing patent data to gain insights into various aspects of a technology, industry, or market. It involves collecting, analyzing, and visualizing patent data to identify trends, patterns, and opportunities. The Global Patent Analytics Market is expected to grow at a CAGR of 12.7% from 2023 to 2032, driven by the increasing use of patent analytics in various industries, including healthcare, electronics, and telecommunications.
Rights to intellectual property are necessary in order to safeguard innovations and patented technologies. One of the essential components of IP law that grants rights to inventors to protect their ideas and uses is the filing of patents. Governments all throughout the world are taking steps to promote the filing of patents. The company's IP management includes patent analytics, which provides a number of technical recommendations for analyses. The analytics platform, sometimes referred to as patent mapping, is a multistage, validated method for researching and analysing documents that are already covered by patents as well as those that are not.
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In order to make judgements that allow for the investment of funds in the development of new technologies and products, educational and research institutions, startups, major enterprises, and shareholders use analytical data generated from patents. The market is driven by the desire to protect the intellectual property of enterprises and innovators. Companies, people, law firms, research organisations, and others utilise patent analytics to decide on innovations and technology.
The Patent Analytics Market - Segmentation
The Patent Analytics Market fragrance concentrates market has been sub-classified into services, component, enterprise size, industry vertical.
On the basis of services, the Patent Analytics Market is bifurcated into:
• Patent landscapes/white space analysis
• Patent strategy and management
• Patent valuation
• others
On the basis of component, the market is segmented into:
• software
• services
• others
On the basis of enterprise size, the market segmented into:
• large enterprises
• small and medium enterprises
• Others
On the basis of industry vertical, the market segmented into:
• BFSI
• IT and Telecom
• Automobile
• Healthcare
• Others
The Patent Analytics Market -Regional Analysis
North America dominated the global Patent Analytics Market, Patent analytics companies in the US are concentrating on providing cutting-edge solutions and services for different industries. The number of patent applications filed in the nation has increased, which is fuelling market expansion.
The existence of well-known significant firms who provide cutting-edge patent analytics software and services is another factor contributing to the region's success. Additionally, the US market is the one that changes and is most competitive globally. In addition, the region is projected to adopt new technology more quickly than other nations in the world.
The Patent Analytics Market - Key Market players
Global key players of Patent Analytics Market include Anaqua, Inc. (US), Clarivate Analytics Plc (UK), LexisNexis (US), Gridlogics (India), Harrity & Harrity, LLP (US), IBM Corporation (US), Minesoft Ltd. (UK), Ocean Tomo, LLC (US), Wynne-Jones IP Ltd (UK), PatSnap Ltd (UK), IDTechEx Ltd (UK), IP Wagon Pvt. Ltd. (India), and others.
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Report scope
Global Patent Analytics Market: Historical Years- 2018-2021
Global Patent Analytics Market: Forecast Years- 2022-2030
Global Patent Analytics Market 2022- USD 907.6 million
Global Patent Analytics Market 2030- USD 2,099.3 million
Global Patent Analytics Market CAGR- 12.7%
Why Patent Analytics Matters for Businesses
Improves Decision-making
Patent analytics provides businesses with valuable insights into the competitive landscape, technological developments, and market trends. With the help of patent analytics, businesses can make informed decisions regarding research and development, market entry, and investment strategies.
Helps Identify New Opportunities
Patent analytics helps businesses identify new opportunities for growth and innovation by analyzing emerging technologies and market trends. It helps companies stay ahead of the competition by identifying untapped areas for innovation and potential partnerships.
Enables Efficient Resource Allocation
By analyzing patent data, businesses can identify the most promising areas for investment and allocate resources accordingly. It helps them prioritize their research and development efforts and optimize their investment strategies.
How Patent Analytics is Impacting the Healthcare Industry
Drug Development
Patent analytics is playing a crucial role in drug development by helping pharmaceutical companies identify new drug targets and potential drug candidates. By analyzing patent data, pharmaceutical companies can identify the most promising areas for drug development and optimize their R&D efforts.
Medical Device Innovation
Patent analytics is also helping drive innovation in the medical device industry by providing insights into emerging technologies and market trends. By analyzing patent data, medical device companies can identify new opportunities for innovation and develop products that meet the needs of patients and healthcare providers.
Precision Medicine
Patent analytics is also helping to advance the field of precision medicine by providing insights into the genetic and molecular basis of diseases. By analyzing patent data, researchers can identify new targets for drug development and develop personalized therapies for patients based on their unique genetic makeup.
Key benefits of the report:
• This study presents analytical depiction of the patent analytics market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
• The current market is quantitatively analyzed to highlight the patent analytics market growth scenario.
• Porter's five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed market analysis based on the present and future competitive intensity of the patent analytics market.
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Reasons to Get this Report:
The analysis covers global market and its advancements across different industry verticals as well as regions. It targets estimating the current market size and growth potential of the global market across sections such as also application and representatives.
In an insight outlook, this research report has dedicated to several quantities of analysis - industry research (global industry trends) and global market share analysis of high players, along with company profiles, and which collectively include about the fundamental opinions regarding the market landscape; emerging and high-growth sections of global market; high-growth regions; and market drivers, restraints, and also market chances.
Additionally, the analysis also has a comprehensive review of the crucial players on the global market together side their company profiles, SWOT analysis, latest advancements, and business plans.
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Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. WE MARKET RESEARCH is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.
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