Dallas, Texas, Oct. 28, 2022 (GLOBE NEWSWIRE) — The market for patent analytics services market is anticipated to reach a value of $ 2987.9 million in 2031 and expand at a CAGR of 13.78% from 2021 to 2031. The demand for effective intellectual property (IP) management, growing public knowledge of IP rights, and the constantly shifting regulatory environment are all factors in the expansion.
Patent analytics services assist businesses in the analysis of substantial amounts of patent data and the conversion of that data into useful insights. The service providers provide a range of tools and technology to aid in finding, keeping track of, and managing patents. When it comes to their technology platform, infringement risk, freedom to operate, prior art searches, and licencing options, companies can benefit from using patent analytics services. Intellectual property (IP) needs to be managed effectively now more than ever. It has become challenging for businesses to maintain track of all the pertinent patents due to the ever-growing volume of patents and the complex global patent landscape. Patent analytics services can help in this situation. To maintain, manage, and evaluate patents, businesses might use patent analytics services.
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Report coverage & details:
|CAGR||CAGR of 13.78% during 2021-2031|
|Segment Covered||Component, End-user, Enterprise, End-use, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Clarivate Analytics Plc, IBM Corporation, LexisNexis, and Anaqua|
Patent analytics services assist businesses in the analysis of substantial amounts of patent data and the conversion of that data into useful insights. The service providers provide a range of tools and technology to aid in finding, keeping track of, and managing patents. When it comes to their patent portfolio, infringement risk, freedom to operate, prior art searches, and licencing options, companies can benefit from using patent analytics services.
Some of the key factors propelling the growth of the global patent analytics services market include the increasing demand for cloud-based patent analytics services, the increasing adoption of artificial intelligence (AI) and machine learning (ML) technologies in patent analytics, the rising number of patent filings, and the rising need for effective decision-making. Organizations are finding it challenging to maintain track of all the pertinent patents as the global patent landscape becomes more complex. Services for patent analytics can help in this situation. Organizations can track, manage, and analyze patents with the use of patent analytics services.
Throughout the projected period, the solution segment will rule the market. This market’s expansion is attributed to the increased use of AI and ML in patent analytics. During the forecast period, the large-scale enterprise segment will expand at a faster CAGR. This market’s expansion is attributed to large businesses’ growing demand for effective IP management.
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The largest segment is projected to be IT and telecoms during the projection period. The rising demand for effective IP management among IT and telecom firms is credited with driving the growth of this market. Throughout the forecast period, North America will rule the market. Due to the proliferation of patent analytics service providers in the United States and Canada, this region has experienced growth.
The newest AI tool from PatSnap, In-Scope, was released in May 2019. This tool aids users in finding pertinent previous art for their patent applications fast.
Thomson Reuters introduced Patent Analytics 2.0, an updated version of its current patent analytics tool, in March 2019.
Table of Contents:
2. Research Methodology
3. Market Outlook
4. Patent Analytics Services Market type , 2019-2029 (USD Million)
1. Patent Analytics Services Market Solutions.
2. Patent Analytics Services Market Services.
5. Patent Analytics Services Market Application , 2019-2029 (USD Million)
6. Patent Analytics Services Market by End User, 2019-2029 (USD Million)
1. Consumer Goods
2. Transport & Logistics
6. Food& Beverage
7. Patent Analytics Services Market Region 2019-2029 (USD Million)
1. North America
4. Rest of Europe
3. Asia Pacific
4. Rest of Asia Pacific
4. South America
3. Rest of South America
5. Middle East & Africa
8. Competitive Landscape
9. Company Profiles
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