Press release
Strong Growth Ahead: Patent Analytics Market Size To Grow At Arecord 12.2% Cagr By 2029
Patent Analytics
How Big Is the Patent Analytics Market Size Expected to Be by 2034?
In recent years, the patent analytics market has seen rapid expansion. It is expected to enlarge from $1.07 billion in 2024 to $1.20 billion in 2025, reflecting a compound annual growth rate (CAGR) of 12.5%. The reasons for this growth during the historical period include the rising demand for cutting-edge technology, the incorporation of AI and big data, an increase in patent applications, an uptick in research and development projects, as well as a swelling demand for specialized intellectual property solutions.
The market size for patent analytics is anticipated to expand rapidly in the coming years, reaching a value of $1.90 billion by 2029 with a 12.2% compound annual growth rate (CAGR). The growth expected in this forecast period is due to an increase in patent applications and litigation, a movement towards digitalization in various sectors, and an increased need for tailored services and greater research and development funding. Notable trends for this period include the rising use of AI in patent analytics, greater emphasis on intellectual property protection, a surge in the use of cloud computing, an increase in patent applications fuelling the need for patent monitoring, and developments in information and communication technology.
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What Are the Emerging Segments Within 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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What Long-Term Drivers Are Shaping Patent Analytics Market Trends?
The patent analytics market is expected to experience growth driven by a surge in patent filings. Patent filings involve submitting applications to obtain legal rights for an invention, providing the applicant with exclusive ownership and protection for a particular duration. The growth in the number of patent filings can be linked to numerous elements such as increased investment in R&D, heightened awareness of Intellectual Property (IP), and patent trolls. Patent analytics plays a crucial role in finding prior art, evaluating patent eligibility, and formulating robust claims to boost patent filing strategies. As an illustration, the World Intellectual Property Organization (WIPO), a Switzerland-based intergovernmental organization, reported in August 2024 that worldwide patent filings grew by 2.7% in 2023, reaching around 3.6 million. Consequently, the escalating number of patent filings is propelling the expansion of the patent analytics market.
Who Are the Top Competitors in Key Patent Analytics Market Segments?
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.
What Actigraphy Devices Market Trends Are Gaining Traction Across Different Segments?
Leading businesses in the patent analytics market are concentrating on creating sophisticated artificial intelligence-enabled patent search solutions to improve decision-making in intellectual property management. Such an AI-enabled patent search solution utilises innovative technologies to simplify and automation patent database searches, enabling users effectively locate pertinent patents, track rowing trends in innovation, and estimate patentability with improved precision. For example, in December 2024, Clarivate Plc, a UK-based intelligence transformation provider, launched AI Search in Derwent. This superior patent search instrument combines artificial intelligence with the Derwent World Patents Index (DWPI) to yield more accurate and pertinent patent search outcomes. Leveraging a language transformer model, the tool can comprehend the context of the input text, enabling intellectual property (IP) professionals to efficiently conduct preliminary patentability searches, confirm results, and probe unfamiliar technology categories. The AI tool drastically amplifies both the speed and accuracy of searches, enabling users to swiftly locate relevant patents and make more knowledgeable decisions during the patent research procedure.
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Which Regions Are Becoming Hubs for Patent Analytics Market Innovation?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Patent Analytics Market?
2. What is the CAGR expected in the Patent Analytics Market?
3. What Are the Key Innovations Transforming the Patent Analytics Industry?
4. Which Region Is Leading the Patent Analytics Market?
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