Intellectual Property Management Software Market Size Worth $431.6 Million By 2028: Grand View Research, Inc.

Read 120 page market research report, "Intellectual Property Management Software Market Size, Share & Trends Analysis Report By Component (Service, Software), By Deployment Type, By End User (Individual, Commercial), By Application, By Region, And Segment Forecasts, 2021 - 2028", by Grand View Research

Furthermore, increasing government initiatives toward creating a digital infrastructure and regulatory framework to monetize and protect creations are also expected to contribute to the growth of the market. For instance, China's central government has developed a specialized intellectual property division in courts to deal with infringement and is committed to streamlining enforcement processes for trademark violations. Additionally, India is building a digital infrastructure in line with the country's national IP policy. This initiative will safeguard and promote patents while protecting intellectual properties.

The outbreak of the COVID-19 pandemic has negatively impacted the growth of the market for intellectual property management software. The lockdown restrictions imposed by various governments across the globe have significantly impacted the use of the software. However, the market is expected to witness significant growth with the gradual leniency in restrictions and resumption of businesses.

North America contributed around 40.0% to the total market share in 2020, attributed to the increasing use of patents in the region. For instance, as per the data published by United States Patents and Trademarks Office, the number of patents used in the U.S. totaled 399,055 in 2020, compared to 370,423 in 2019. The regional market is anticipated to witness steady growth over the forecast period as well.

Some of the prominent players in the market for intellectual property management software include Anaqua Inc.; Clarivate; Innovation Asset Group, Inc.; Gemalto NV; CPA Global; and Questel. These players focus on launching new products, applications, and services to enhance their business operations. For instance, in November 2019, CPA Global announced its customer-focused strategy to enhance IP outcomes from improved data-enabled IP decision-making and improved IP productivity across the industry. After the acquisition of ipan/Delegate Group, CPA global operates in two core business divisions namely Software and Tech-Enabled Services.

Grand View Research has segmented the global intellectual property management software market based on component, deployment type, end-user, commercial outlook, application, and region:

List of Key Players of Intellectual Property Management Software Market

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