Global Intellectual Property Services Market – Introduction
- Intellectual property services are specifically designed to protect the rights & privileges of the intellectual property (IP) owner. Intellectual property services provide the user with a quick, effective, and cost-efficient route to protect the user’s trademarks, inventions, or designs across borders.
- Intellectual property services are increasingly adopted by end-users to protect and develop a brand, protect exclusive tenure of their creations, and keep their work private and confidential to maintain and create an advantage in this competitive world.
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Growing emphasis on managing and protecting intellectual property driving the global intellectual property services market
- The management and development of intellectual property has become a major concern for private enterprises, specifically in cultural, artistic, and technology applications. Equitable and efficient intellectual property services can help organizations understand the intellectual property’s potential as a catalyst for cultural and social well-being and economic development.
- Intellectual property assets fuel economic development in numerous ways. Many companies can gain royalty incomes from licensing their IP assets to other parties. For instance, According to the World Intellectual Property Organization (WIPO), the U.S. has earned licensing revenues of approximately US$ 30 Bn from overseas. Similarly, Japan, followed by the U.K. earned US$ 5 Bn to US$ 10 Bn from licensing their IP assets.
- Therefore, organizations emphasize on managing and protecting their intellectual property. Protection for any intellectual property is granted for a restricted period of time, usually 20 years. Thus, growing emphasis on managing and protecting intellectual property is driving the global intellectual property services market.
Lack of awareness of the IP system and its usefulness among enterprises expected to significantly hamper the market
- Unawareness about IP systems and their usefulness among organizations is one of the roadblocks in this market. Consumers are less aware of the fact that intellectual property services bring numerous advantages, along with the protection and management of intellectual property assets. These factors have hindered the expansion of the intellectual property services market. However, adoption rate of intellectual property services is increasing among end-users as the awareness about IP systems and their usefulness increases.
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North America to hold major share of the global intellectual property services market
- In terms of region, the global intellectual property services market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- North America is anticipated to account for major share of the global intellectual property services market during the forecast period due to higher penetration of IP solutions and strong demand for patenting, specifically in the U.S. and Canada. Europe is estimated to be the second largest market for intellectual property services from 2019 to 2027. Various end-use industries such as BFSI, manufacturing, healthcare, and IT & telecommunications are creating huge demand for IP solutions across Europe, which is likely to help the growth of the intellectual property services market in the region.
- Asia Pacific is projected to be a rapidly expanding region of the global intellectual property services market during the forecast period due to many organizations in Asia Pacific opting for outsourcing IP cores due to availability of cheaper cost resources and technology, which is expected to increase the adoption of intellectual property services in the region.
Global Intellectual Property Services Market – Competitive Landscape
- In November 2016, Anaqua Inc. selected IBM Cloud to provide its new intellectual asset management software and services around the globe. The company is also planning to expand its global presence in the Netherlands and Japan through IBM Cloud data centers in Amsterdam and Tokyo.
Key Players Operating in the Global Market
- Anaqua Inc.
- Arnold & Siedsma
- Gridlogics Technologies Pvt. Ltd
- PA Global
- Selvam & Selvam
- The Dennemeyer Group
Global Intellectual Property Services Market: Research Scope
Global Intellectual Property Services Market, by Services
- Professional Services
- Integration & Implementation Services
- Consulting Services
- Maintenance & Support Services
- Managed Services
Global Intellectual Property Services Market, by End-user
- Individuals (independent Inventors)
- Banking, Financial Services and Insurance (BFSI)
- IT & Telecommunication
- Legal Enterprises
Global Intellectual Property Services Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.