What is the Historic and Current Scenario of the Patent Analytics Market?
The patent analytics market has seen considerable growth due to a variety of factors.
• In recent times, the market size of patent analytics has seen a swift surge. It's projected to escalate from $1.07 billion in 2024 to $1.20 billion in 2025, implying a compound annual growth rate (CAGR) of 12.5%.
The substantial growth in the previous period is due to the rising demand for progressive technologies, combination of AI and big data, growth in patent filings, amplified initiatives in research and development, and the increasing necessity for professional intellectual property services.
What Can Be Expected from the Patent Analytics Market in the Coming Years?
The patent analytics market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for the patent analytics market size to swiftly expand in the ensuing years. By 2029, it is projected to escalate to $1.90 billion, with a compound annual growth rate (CAGR) of 12.2%.
The anticipated expansion during the forecast period is linked to an upsurge in patent filings and litigation, a transition towards industry-wide digitization, and an increased demand for bespoke services and augmenting investments in research and development. Noteworthy trends for the forecast period encompass the escalating adoption of AI-driven patent analytics, a growing emphasis on intellectual property protection, the increasing use of cloud computing, a surge in patent filings necessitating the demand for patent monitoring, and breakthroughs in information and communication technologies.
What Main Forces Are Fueling Expansion In The Patent Analytics Market?
The growth of the patent analytics market is anticipated to be fueled by a rise in patent filings. Applications submitted to obtain legal rights for an invention, effectively giving the applicant sole ownership and protection for a defined period, are referred to as patent filings. The escalating number of these filings is attributed to various elements, including heightened investment in research & development, growing cognizance of intellectual property, and patent trolls. Patent analytics contribute to the identification of previous art, evaluation of patentability, and the crafting of solid claims to bolster patent filing tactics, making them indispensable. For example, the World Intellectual Property Organization (WIPO), an intergovernmental organization based in Switzerland, reported in August 2024 that global patent filings in 2023 experienced a growth of 2.7%, amounting to around 3.6 million. Hence, a surge in patent filings is at the forefront of driving the patent analytics market's expansion.
How Are The Segments Defined Within The Global Patent Analytics Market?
The patent analytics market 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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How Are New Trends Expected To Influence The Growth Of The Patent Analytics Market?
Leading enterprises in the patent analytics arena are prioritizing the creation of superior artificial intelligence-driven patent search systems to streamline decision-making processes in the intellectual property management sector. These AI-enabled patent search utilities make use of sophisticated technologies to simplify and automate patent database exploration, thereby enabling users to identify pertinent patents, stay abreast of innovation trends, and evaluate patentability with greater precision. An apt illustration of this trend can be seen in the instance of Clarivate Plc, a UK-based intelligence transformation provider, which in December 2024, introduced AI Search in Derwent. This progressive patent search instrument combines artificial intelligence with the Derwent World Patents Index (DWPI) enabling delivery of highly precise and fitting patent search outcomes. The tool, by using a language transformer model, grasps the context of input text, equipping intellectual property (IP) professionals with the ability to conduct initial patentability searches, validate findings, and delve into new technology sectors more effectively. This AI instrument significantly boosts the speed and reliability of searches, thereby hastening users' ability to discover relevant patents and make data-driven decisions during the patent research operation.
Who Are the Key Players in the Patent Analytics Market?
Major companies operating in the patent analytics market are include:
• 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.
What Is The Most Dominant Region In The Patent Analytics Market?
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.
