Intellectual Property Management Software Market Size (2024 - 2029)

Intellectual Property Management Software Market Analysis

The Intellectual Property Management Software Market size is estimated at USD 11.96 billion in 2024, and is expected to reach USD 22.98 billion by 2029, growing at a CAGR of 13.94% during the forecast period (2024-2029).

Intellectual property management software allows enterprises to manage multiple aspects of intellectual property (IP) assets, including invention disclosures, patent portfolios, trade secrets, trademarks, copyrights, and the operational and legal activities associated with patent prosecution, partnerships, agreements, and licensing. The continuous evolution of technology, including artificial intelligence, machine learning, and automation, is driving innovation in IP management software. Advanced features such as predictive analytics, patent searching algorithms, and automated document management are enhancing these software solutions' capabilities and value proposition.

• Intellectual property is a legal approach to preserving ideas or inventions for commercial benefits by providing creators or inventors with certain exclusive rights. The incremental increase in the adoption of outsourcing services by larger enterprises contributes significantly to the growth of the IP management software market.
• As the number of patents grows, managing and tracking intellectual property rights, applications, filings, and renewals becomes increasingly complex. IP management software provides centralized platforms to streamline these processes, enhancing efficiency and decreasing the risk of errors. According to IFI CLAIMS Patent Services, the South Korean technology giant Samsung Electronics was awarded a total of 6,165 US patents in 2023, the most of any company. Qualcomm ranked second among companies, with 3,854 US patents granted, followed by Taiwan Semiconductor Manufacturing Company and IBM.
• Further, businesses are becoming increasingly aware of the strategic value of intellectual property as a driver of innovation, competitiveness, and revenue generation. As a result, they are investing more resources in managing and safeguarding their IP assets, fueling the adoption of IP management software. For instance, in April 2023, Fujitsu, a prominent information and communications technology provider, adopted Anaqua's AQX platform for intellectual property management.
• Managing all the potential intellectual property assets has become one of the most crucial parts of securing a place in the market as the business grows. Vendors in the market can significantly help companies protect their competitive advantages from infringements. Using a wealth of experience, IP management software and service providers guide the development of a smarter IP portfolio that may align with the business strategy and maximize the IP assets.
• The growing partnership among key players is anticipated to offer a lucrative opportunity for enterprise intellectual property management software industry growth during the forecast period. For instance, in May 2023, with the launch of TCS Generative AI, a unique offering from Tata Consultancy Services (TCS), the firm announced an expansion of its partnership with Google Cloud. TCS Generative AI uses Google Cloud's generative AI services to design and implement specialized business solutions that help clients use this innovative technology to speed up their growth and transformation.
• Moreover, for small and medium-sized businesses (SMEs), implementing intellectual property management software can be costly. The upfront expenses associated with license, customization, and training could prevent certain firms from implementing these solutions. For instance, the median cost of a software patent, as reported by the American Intellectual Property Law Association, is USD 10,000, including the filing expenses for the patent application.
• Increasing inflation often leads to higher operating costs for businesses, including software providers. This can result in higher prices for IP management software licenses and services, impacting affordability for some clients. Furthermore, the Russia- Ukraine War conflict could disrupt supply chains and operations for software providers, leading to delays in product development, customer support, and software updates. This could affect the overall performance and reliability of IP management software solutions.

Intellectual Property Management Software Industry Segmentation

Intellectual property management software helps track patents, trademarks, copyrights, designs, and other intellectual property. This software facilitates paperless work and is used by various corporations to frame an enhanced IT infrastructure and system. The software enables the corporate IPR departments to perform periodic activities efficiently, effectively, and accurately. The intellectual property management software market is segmented by deployment (on-premise and cloud), solution (software and service), type (patent intellectual property management, trademark intellectual property management, copyright intellectual property management, and design intellectual property management, and other types), end-user industry (BFSI, healthcare, automotive, IT and telecom, research institutes, and other end-user industries), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.