Press release
Global Patent Analytics Market Projected to Surpass $1.9 Billion by 2029 with 12% Annual Growth
Patent Analytics Market Size
The size of the patent analytics market has expanded swiftly in recent years. Its progress will continue, escalating from $1.07 billion in 2024 to $1.20 billion in 2025 with a compound annual growth rate (CAGR) of 12.5%. The historic period's growth is linked to various factors such as the growing need for cutting-edge technologies, amalgamation of AI and big data, a rise in the volume of patent filings, an upsurge in research and development initiatives, and escalating demand for expert intellectual property solutions.
Anticipated for an accelerated growth in upcoming years, the patent analytics market size is projected to escalate to $1.90 billion by 2029, with a compound annual growth rate (CAGR) of 12.2%. The growth within the projected period can be traced back to the increase in patent filings, escalated patent litigations, digitization across various industries, and increased demand for tailored services along with amplified research and development investments. Noteworthy trends expected in the forecast duration encompass the increasing inclination towards AI-integrated patent analytics, an amplified focus on Intellectual Property protection, growing acceptance of cloud computing, escalated patent filings bolstering the demand for patent monitoring, and advancements in technology in the information and communication sector.
What Is Contributing to the Growth of the Patent Analytics Market?
The growth of the patent analytics market is expected to be spurred on by the rising number of patent application submissions. Such submissions lay the groundwork for establishing legal rights for an innovation, providing the applicant exclusive possession and safeguarding for a certain time span. A variety of factors contribute to the escalating count of patent applications, including increased funding for research and development, heightened recognition of intellectual property, and patent trolls. Patent analytics is crucial for pinpointing prior art, evaluating patent feasibility, and constructing solid claims to reinforce patent submission strategies. For instance, the World Intellectual Property Organization (WIPO), an intergovernmental organization based in Switzerland, reported that in 2023, global patent applications expanded by 2.7%, hitting around 3.6 million by August 2024. Consequently, the upsurge in patent applications is stimulating the expansion of the patent analytics market.
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Which Key Market Leaders Are Driving Patent Analytics Industry Growth?
Major companies operating in the patent analytics market are Clarivate Plc, LexisNexis, IP.com, Patsnap, Anaqua Inc., TechInsights Inc., QUESTEL SAS, Sagacious IP, MaxVal Group Inc., RPX Corporation, Wynne-Jones IP Ltd., Ocean Tomo LLC, Minesoft Ltd., IDTechEx Limited, Excelon IP, Coller IP, Harrity & Harrity LLP, Patent iNSIGHT Pro, IPlytics GmbH, Dolcera, PatSeer Technologies Pvt. Ltd.
Which Key Developments Are Influencing the Patent Analytics Market?
Leading firms in the patent analytics market are focusing their efforts on creating sophisticated artificial intelligence-powered patent search solutions to boost decision-making in intellectual property management. An AI-enabled patent search solution employs cutting-edge technologies to expedite and automate patent database exploration, enabling users to effectively discover pertinent patents, monitor innovation patterns, and evaluate patentability with increased precision. For instance, Clarivate Plc, a UK company specializing in transformative intelligence, introduced AI Search in Derwent in December 2024. This superior patent search tool incorporates artificial intelligence with the Derwent World Patents Index (DWPI) to produce more accurate and pertinent patent search outcomes. By using a language transformer model, the tool comprehends the context of the input text, allowing intellectual property (IP) professionals to conduct initial patentability searches, verify results, and explore unknown technology categories more efficiently. This AI tool significantly boosts the speed and accuracy of searches, enabling users to identify relevant patents more rapidly and make well-informed decisions throughout the patent research procedure.
What Are the Main Segments in the Patent Analytics Market?
The patent analytics market covered in this report is segmented -
1) By Component: Solutions, Services
2) By Deployment Type: On-Premises, Cloud-Based
3) By Enterprise Size: Large Enterprises, Small And Mid-Sized Enterprises (SMEs)
4) By Application: Competitive Intelligence, Technology Landscape Analysis, Patent Valuation, Litigation Support
5) By End-User: Corporates, Research Organizations, Intellectual Property Firms, Government Agencies
Subsegments:
1) By Solutions: Patent Search And Analytics Software, Patent Valuation Solutions, Competitive Intelligence Solutions, Patent Mapping And Landscape Tools, IP Portfolio Management Solutions
2) By Services: Patent Search Services, Patent Licensing And Monetization Services, Patent Litigation Support Services, Patent Strategy And Consulting Services, Patent Filing And Prosecution Services
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Which Geographic Area Leads the Patent Analytics Market?
North America was the largest region in the patent analytics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the patent analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Patent Analytics Global Market Report?
- Market Size Analysis: Analyze the patent analytics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the patent analytics Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the market.
- Market Contribution: Evaluate contributions of different segments to the overall patent analytics market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the patent analytics market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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