Fortune Business Insights predicts that the rising emphasis of companies towards protecting intellectual assets will drive the global intellectual property software market in their new study. The study is titled “Intellectual Property Software Market Size, Share and Global Trend by Deployment (On-premises & Cloud-based solutions), By Services (Development & Implementation Services, Consulting Services, Maintenance & Support Services), By Applications (Patent Management, Trademark Management and others), By Industry Vertical (Healthcare, Electronics and others) and Geography Forecast till 2025.”
Browse Complete Report at https://www.fortunebusinessinsights.com/industry-reports/intellectual-property-software-market-100330
Rising Adoption of Enterprise IP Management Softwares to Drive Market
Various factors are responsible for boosting the global intellectual property software market. A key factor contributing to the growth of the market is the rising adoption of Internet of Things (IoT) and increasing use of intellectual property software across numerous end-use industries. The fact that intellectual property software offers a wide range of applications including intellectual property filings, patent landscape, business strategies, and prior art search, will boost the market.
The rising demand for efficient and effective management of intellectual properties by market vendors will help the market to gain momentum in the coming years. Moreover, the rising emphasis of companies towards protecting intellectual assets by gaining licenses, and patents for their technological innovations will create growth opportunities for the market.
An important factor propelling demand for intellectual property software market is the rising illegal and unauthorized sale of intangible and tangible assets and duplication of products. This will further trigger large-scale adoption of enterprise IP management software during the forecast period, thus growth in the market.
Various end-use industries are adopting patent management software for protecting their intellectual assets. This is owing to the transition into digital economy business model that the market will reach higher limits and earn huge revenues.
However, high cost incurred on the installations and maintenance of this software and complexities associated with the life cycle of this property software may hamper the market. Furthermore, lack of awareness about this software and its uses is also restricting the market’s growth.
Nevertheless, the rapid expansion and development of information and communication technologies and increasing awareness about adopting intellectual property software programs in developing nations are likely to offer lucrative growth opportunities to the market in the long run.
Adoption of Intellectual Software in Various End-use Industries Creates Growth Opportunities
Developed countries such as Canada and the U.S. have well-established markets for advance IP management and cloud-computing. This is expected to be enable growth of the market in North America, enabling the region emerge dominant in a global scale. The Asia Pacific market is expected to show growth at a faster pace in the coming years on account of implementation of internet of things and rising popularity of digitalization for various end use industries such as banking, retail, and others.
Top Players List:
- TORViC Technologies Inc.
- Innography Inc.
- Clarivate Analytics
- Wellspring Worldwide
- IP Checkups, Inc.
- Aistemos Limited
- Alibaba Group
Integration of internet of things with the system is a major factor anticipated to fuel the demand in the market during the forecast period 2018-2025. Additionally, the rising adoption of e-financial services is expected to boost the global market.
Major Segments Mentioned:
- By Deployment
- By Services
- By Applications
- By Industry Vertical
- By Geography
On the contrary, the high cost associated with upgraded technology is a factor that may restrain the global Intellectual Property Software market.
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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