Patent analysis is known as the study of tools and services that are associated with patents that are also a part of intellectual property. Earlier, patent analysis was carried out with the help of spreadsheets. However, with the evolution of data analytics and Big Data, patent analytics has gained leverage and has been significantly adopted across many industries. Law defines intellectual property as intangible rights that protect the creations of the human mind and intellect, such as patented inventions and copyrightable works. The aim of this law is to foster a productive environment, in which innovation is prized and creativity is fostered. Patent analytics, which includes intellectual property rights such as trademarks, patents, and copyrights, not only enables people to earn financial rewards, but more importantly, promotes recognition of their work. When artists and writers come up with a new book, painting, music compositions, or a graphic design, they can protect their work from infringement, misuse, or unauthorized use by issuing a copyright. Additionally, patents are rights granted for inventions, encouraging private investments by forbidding the production and distribution of new, unprecedented technological information by other entities.
The patent analytics services market is expected to expand at a rapid pace in the coming years. The market is expected to be driven by an increase in the adoption of data analytics and Big Data and a rise in demand for security and protection from large and small enterprises. While companies have been analyzing data for years, the latest developments in computing have unleashed the potential of data analytics. In the coming years, data analytics expects developments in the advance applications of the technological world. As the Big Data analytics market expands rapidly to include mainstream customers, technologies such as Hadoop and cloud solutions are in demand and have the potential to grow. Development of advanced technology and accessibility of data continue to drive demand for data analytics services and technology. These factors are expected to boost the market. However, the global patent analytics services market is expected to be restrained by high costs of copyrights and licenses. The negative impact of this restraint is anticipated to be nullified as the popularity of online intellectual property increases in the coming years. The emergence of patenting funds is also expected to present substantial opportunities.
The global patent analytics services market can be segmented based on service, enterprise size, end-user, and region. Based on service, the patent analytics services market can be divided into trademark management, patent management, intellectual property (IP) licensing, intellectual property (IP) portfolio management, and intellectual property (IP) reporting & analytics. In terms of enterprise size, the market can be divided into small & medium enterprises (SMES) and large enterprises. Based on end-user, the patent analytics services market can be segmented into health care, automotive, chemicals, electronics, and others. In terms of region, the global patent analytics services market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is anticipated to dominate the patent analytics services market due to rapid technological advancements. Large presence of enterprises that adopt IP outsourcing is also expected to contribute to the market’s growth. In Asia Pacific, India has emerged as a prime location for outsourcing due to the rich talent of its educated population and significance of the technology sector in the economy.
Major vendors operating in the global patent analytics services market are Clarivate, Netscribes, IP Wagon Pvt. Ltd., IPRAM Intellectual Property Services, Einfolge, IPCalculus, and Anaqua, Inc.. Leading players in the market are focusing on the introduction of advanced services and solutions in order to strengthen their position and expand their customer base. Companies are investing extensively in R&D operations and are focusing on providing customized services to their customers.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold 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.