Press release
Global Patent Analytics Market Expected to Achieve 12.1% CAGR by 2029: Growth Forecast Insights
Patent Analytics
How Large Will the Patent Analytics Market Size By 2025?
The dimension of the patent analytics market has experienced swift expansion lately; projections indicate this figure will augment from $1.07 billion in 2024 to reach $1.2 billion by 2025, reflecting an 11.8% compound annual growth rate. Contributing factors to this historical upward trajectory include heightened need for cutting-edge technologies, the merging of artificial intelligence with big data, a greater volume of patent submissions, elevated investment in research and development efforts, and a rising requirement for specialized intellectual property services.
How Big Is the Patent Analytics Market Size Expected to Grow by 2029?
Anticipation is high for substantial expansion within the patent analytics market over the forthcoming years, projecting a valuation of $1.89 billion by 2029, supported by a compound annual growth rate (CAGR) of 12.1%. This forward trajectory is fueled by several key factors, notably the escalating volume of patent submissions, an uptick in patent disputes, the widespread movement toward digital transformation across various sectors, greater spending on research and development efforts, and a corresponding surge in the need for tailored service offerings. During this projection period, several prominent movements will shape the landscape, such as the increasing integration of artificial intelligence within patent analysis tools, heightened attention on safeguarding intellectual property, broader uptake of cloud computing infrastructure, the demand for continuous patent monitoring spurred by increased filing activity, and continuous innovation in information and communication technologies.
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Which Key Market Drivers Powering Patent Analytics Market Expansion and Growth?
Anticipated expansion within the patent analytics sector will be fueled by a growing volume of patent applications being lodged subsequently. This lodging process involves formally submitting documentation to obtain statutory privileges for an innovation, thereby conferring sole possession and safeguarding rights upon the submitter for a defined duration. Several elements contribute to this surge in patent submissions, including heightened spending on research and development, greater general consciousness regarding intellectual property, and the activities of non-practicing entities often termed patent trolls. Patent analysis tools prove invaluable by assisting in the detection of existing knowledge, evaluating the uniqueness of an invention, and formulating strong descriptions to fortify the methods used for securing patents. To illustrate the trend, data released in August 2024 by the World Intellectual Property Organization (WIPO), an organization situated in Switzerland that operates at an intergovernmental level, indicated that global patent submissions experienced a 2.7% rise throughout 2023, culminating in almost 3.6 million applications; consequently, this uptick in patent submissions serves as a primary catalyst for the expansion of the patent analytics market.
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Which Fast-Growing Trends Are Poised to Disrupt the Patent Analytics Market?
Leading entities within the patent analytics sector are concentrating efforts on engineering sophisticated, AI-driven patent search platforms intended to bolster strategic choices across intellectual property stewardship. Such an AI-enabled system utilizes cutting-edge methodologies to simplify and automate the process of querying vast patent repositories, thereby enabling users to swiftly pinpoint pertinent patents, monitor emerging technological shifts, and evaluate the potential for patent protection with greater precision. Illustratively, in the month of December 2024, Clarivate Plc, a firm headquartered in the United Kingdom specializing in delivering transformative intelligence, introduced AI Search within its Derwent offering. This sophisticated search utility merges artificial intelligence capabilities directly with the Derwent World Patents Index (DWPI), yielding patent search outcomes characterized by improved precision and relevance. Through the deployment of a language transformer model, the application grasps the underlying meaning of supplied text, empowering intellectual property practitioners to conduct preliminary patentability assessments, confirm generated findings, and investigate unfamiliar technological domains with improved efficacy. This artificial intelligence mechanism substantially elevates both the rapidity and correctness of searches, facilitating users in locating necessary patents at an accelerated pace and fostering superior decision-making throughout the patent investigation lifecycle.
What Are the Emerging Segments in the Patent Analytics Market?
The patent analyticsmarket 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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Who Are the Global Leaders in the Patent Analytics Market?
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 are the Top Profitable Regional Markets for the Patent Analytics Industry?
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.
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