Enterprise IP Management Software Market

Market Overview

The global enterprise's IP management software market was valued at USD 23.7 billion, growing at a CAGR of 18.2% during the forecast period.

Enterprise IP management software is the software used to track copyrights, trademarks, other intellectual property, and patents, among others. Furthermore, this software often collaborates with case management tools to streamline the lifecycle of IP procurement. Additionally, it offers a broad range of traits that enhance reliability, reduce complexity, easier administration, high end-security, and IPAM compliance.

Artificial Intelligence and growing cloud infrastructure, surging number of a new channel of delivery, and increasing emphasis on protecting and managing IP portfolio are the factors fueling the market growth. However, the availability of alternatives hinders market growth.

Market Dynamics

Artificial Intelligence and Growing Cloud Infrastructure

Infrastructural development, supported by digitalization, drives the demand for smart IP management system software to manage organizational IP. Growing trends to safeguard IP assets through the patenting or licensing of products and services is significantly driving the global enterprise IP management software market. As per the World Intellectual Property Organization (WIPO), the number of patent grants worldwide increased from 1 million in 2011 to 1.4 million in 2017.

The implementation of laws and regulatory frameworks to protect and monetize innovations is expected to fuel the enterprise IP software market's growth during the forecast period. China has specialist IP courts for the protection of trademarks and suppression of false copyright claiming. The advantages of enterprise IP management software, such as tracking patents, trademarks, and utility models, are encouraging adoption. The availability of both on-premise and cloud-based IP management software drives the demand among small, medium, and large enterprises that aim to frame an enhanced IT infrastructure and operational system.

Segmental Analysis

The global enterprise IP management software market has been segmented into component, organization size, and vertical.

By Component

Based on components, the global enterprise IP management software market has been segmented into software and services.

The services segment holds a higher CAGR and is presumed to grow during the forecast period. Enterprise IP management software providers are expanding their patent management services to different corporates, including of-counsel teams, Ph.D. professionals, and legal experts that assist clients by handling core technical domains. Law firms and business corporations are surging the demand for technological innovations and service providers that progressively manage IP both domestically and internationally.

For instance, CPA Global, a leading provider of intellectual property management solutions and services, has recently established its office in Taipei, Taiwan. Taiwan is emerging as a hub for innovations and emerging start-ups. Also, Taiwan, along with China, is among the top patent applicants in the world. Therefore, starting operations to help and assist clients in the country will maximize business profits and drive APAC's IP management sector.

Moreover, India-based ANS IP Management Services is a team of experienced patent agents and attorneys for national and international patent registration. The company offers legal expertise to SMEs for effectively managing patent applications.

By Organization Size

The global enterprise IP management software has been segmented into SMEs and large enterprises based on organization size.

SMEs hold a higher market share and are anticipated to witness growth during the forecast period. Increasing awareness of asset management and the lack of easily accessible training and professional assistance are significantly driving the demand for IP management software solutions among SMEs. Government support and investor funding are expected to allow small enterprises to adopt useful intangible asset supervision and control tools. Modern IP systems are anticipated to help SMEs stay upgraded and globally competitive during the forecast period.

The World Intellectual Property Organization (WIPO) assists SMEs in making informed decisions and improving their policy framework. SMEs' high vulnerability to brand copying and stealing of design and trade secrets is bolstering the demand for IP guides and solution providers. Countries such as China are primarily focusing on strengthening the IP rights of all SMEs. China registered 1.542 million patent applications and 7.371 million trademark registration applications in 2018, as per the China National Intellectual Property Administration (CNIPA).

By Vertical

Based on vertical, the global enterprise IP management software market has been segmented into high tech, IT and Telecom, agriculture, manufacturing, healthcare, life science and pharmaceuticals, automotive, banking and finance, energy and utilities, and others.

High Tech, IT, and Telecom holds higher CAGR and is anticipated to witness growth during the forecast period. Furthermore, the exponential increase in AI-related technologies in the IT and telecommunications sector is expected to support the regional adoption of highly accurate IP management software for asset management.

British Telecom Group in the U.K. is the most prolific applicant for filing AI patents. Also, leading technology patent applicants, such as Canon, Samsung, State Grid Corp of China, Mitsubishi Electric Corp, IBM, Toyota, Huawei Technologies, Toshiba, LG, and Robert Bosch, are some of the prominent players in enterprise IP management. Two China-based telecoms companies — Huawei Technologies and ZTE Corporation — occupied top spots for patent applications in IT technology in 2018, closely followed by Intel Corporation, Mitsubishi Electric Corporation of Japan Qualcomm Incorporated.

Impact of covid-19

The impact of COVID-19 has a devastating effect on all industry verticals globally. The enterprise IP management software market has witnessed a surge in growth due to the increasing adoption of digitization amid pandemic COVID-19. As stringent government regulations such as social distancing and shut down of business operations encourage enterprises to work from home, increasing the demand for digitization. These increase demand for enterprise IP management software to improve reliability, reduce complexity, and adopt high-end security. Additionally, post-COVID-19 is anticipated to improve the market of enterprises' IP management software.

Regional Analysis

North America

The region is witnessing significant growth in IP and patenting market protection, and this momentum is expected to continue during the forecast period. Recent U.S.–China trade tensions have raised concerns about economic growth and geopolitical issues in the region. However, North America's vibrant stock market has been supportive of its IPO sector throughout 2019.

Government agencies, the private sector, and international institutions are working together to establish new training datasets and auditing procedures. Along with Canada, the U.S. is anticipated to record a healthy increase in IP management as more enterprises continue to adopt smart, valuable asset management solutions and services.

Also, judicial decisions play a key role in North American legal reasoning activities. The region has witnessed an expansion of federal laws in IP management. The constitution explicitly grants the Federal Government the authority to create patent and copyright laws. Pharmaceutical IPs are regulated under the Commerce Clause of the U.S. Constitution. The Federal antitrust and trademark laws co-exist with the state laws. The basic idea behind implementing such laws is to protect organizations' intellectual assets for promoting future economic benefits.

Asia-Pacific

Asia-Pacific region holds the dominant position and is presumed to grow over the forecast period. Advancements in transportation and telecommunications technologies across APAC, especially China, Japan, South Korea, India, and Australia, contribute to the ever-growing number of patent filings to safeguard assets. China has been at the forefront of the most popular offices for filing AI patents, followed by Taiwan and Japan. As per WIPO, China's share of total patent applications grew from 15% in 2008 to 46.4% in 2018.

Small and medium enterprises primarily focus on domestically manufactured products, which has increased the regional demand for securing innovation and techniques. The ongoing U.S.-China trade war has further accelerated the need for technology ownership.

Asia-Pacific's overall enterprise IP management software industry will continue to be dominated by entrepreneurial companies coming to public markets, along with the high-growth opportunities offered by the technology and healthcare sectors.

Enterprise IP Management Software Market Segmentation

By Component

• Software
• Services

By Organization Size

• Large Enterprises
• SMEs

By Vertical

• High Tech, IT and Telecom,
• Agriculture
• Manufacturing
• Healthcare Life Science and Manufacturing
• Automotive
• Banking and Finance
• Energy and Utilities
• Others

By Region

North America

• The U.S.
• Canada
• Mexico

Europe

• The U.K.
• Italy
• France
• Spain
• Germany
• The Rest of Europe

The Middle East and Africa (MEA)

• Saudi Arabia
• Egypt
• South Africa
• The Rest of MEA

Asia-Pacific

• India
• China
• Japan
• Australia
• South Korea
• The Rest of Asia-Pacific

South America

• Colombia
• Brazil
• Chile
• Peru
• Argentina
• The Rest of South America