Intellectual Property Rights And Royalty Management Market Expected to Expand at a Steady CAGR through 2027
Intellectual property rights and royalty management market is witnessing growth due to the rapid adoption by government agencies and educational institutions owing to the deployment of digital education and advanced technology based e-learning services offered by the educational institutions. Media and entertainment industry is among the prime contributors having the maximum revenue share among the other industry application. Many other large and small enterprises in pharmaceuticals, life science, apparel, high-tech and others generate revenue based on royalties for intellectual property embedded in partner products.
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Intellectual Property Rights and Royalty Management Market: Drivers and Challenges
Intellectual property rights and royalty management solutions aids companies to optimize their revenues, capitalize on and protect their intellectual properties and efficiently manage risks. Prime driving factors for the growth of intellectual property rights and royalty management market include the feature of protection against piracy or duplicity and the security and detailed information that is provided by the software for the enterprises. This increases adoption of the solution among various large and small enterprises contribution in growth in the revenue of intellectual property rights and royalty management market. However, high initial investment and lack of skilled personnel are consider to be challenging factors in the adoption of the solutions by the organizations hindering the growth in the market.
Intellectual Property Rights and Royalty Management Market: Segmentation
Intellectual property rights and royalty management market can be segmented on the basis of solution type, deployment type, end-user, industry application and region.
On the basis of solution type, intellectual property rights and royalty management market can be segmented into integrated solution and standalone solution.
On the basis of deployment type, intellectual property rights and royalty management market can be segmented into on-premises and cloud based deployment.
On the basis of end-user, intellectual property rights and royalty management market can be segmented into small and medium enterprises (SMEs) and large enterprises.
On the basis of industry application, intellectual property rights and royalty management market can be segmented into media and entertainment, banking, financial services and insurance (BFSI), IT and telecommunication, energy and utility, government offices and education, healthcare, and others. Media and entertainment industry is among the largest contributing industry and is expected for a significant growth in the coming years in the intellectual property rights and royalty management market.
Intellectual Property Rights and Royalty Management Market: Regional Overview
Regionally, intellectual property rights and royalty management market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East and Africa.
North America is presently dominating the market in terms of revenue and is expected to hold the major market share during the forecast period owing to the technological advancements and easy adoption rates among the population in the region. Western Europe closely follows the North America market in terms of market share as the regions has well established economy which enables enterprises in this region to invest in new technologies. Asia Pacific excluding Japan market is expected to witness exponential growth in the forecast period as countries such as China and India have maximum potential and companies in the market have started adopting intellectual property rights and royalty management solutions.
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Intellectual Property Rights and Royalty Management Market: Competition Landscape
Few prominent players in the intellectual property rights and royalty management market include: FADEL, ORACLE,IBM Corporation, Ingenta, FilmTrack,Entomo Inc., Klaris IP, Capgemini SA, OASIS, FlexTrac, Selectiva Systems, Inc, Anaqua Inc.
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