"Smart Strategies, Giving Speed to your Growth Trajectory"

Patent Analytics Market Size, Share and Industry Analysis, By Component (Solutions and Services), By Services (Patent Landscapes/White Space Analysis, Patent Strategy and Management, Patent Valuation), By Enterprise Size (Large Enterprises, Small & Medium Enterprises), By Industry (IT and Telecommunications, Healthcare, Banking, Financial Services and Insurance (BFSI), Automotive), and Regional Forecast, 2020-2027

Region : Global | Format: PDF | Report ID: FBI102774

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The global patent analytics market size stood at USD 657.9 million in 2019 and is projected to reach USD 1,668.4 million by 2027, exhibiting a CAGR of 12.4% during the forecast period.

COVID-19 Cover

This report covers COVID-19 impact analysis on Patent Analytics Market

Request Sample

Intellectual Property rights (IPR) are necessary for protecting inventions and patented technology. Patent filing is one of the major parts of IP law that can offer rights to inventor to safeguard their inventions and use of their inventions. Governments across the world are taking initiatives to promote the patent filing activities. For example, the Government of India started a scheme named Innovative/ Creative India, to aware people of patents and IP laws. Patent analytics is a significant part of the organization's IP management, which provides a set of technical references for analytics. The analytics platform also known as patent mapping is a verified multistep procedure of studying and analyzing existing patents and non-patent literature.


Analytical information opted from patents facilitates universities, startups, research institutions, large corporations, and investors to make knowledgeable decisions, which enables investing time and money into new technology and product development opportunities. The necessity of protecting the intellectual assets of inventors and companies drives the market. The patent analytics is carried out for the advising companies, individuals, legal firms, research institutes, and others to make a cognizant decision about innovations and technologies. The capability of offering competitor’s intelligence analyzes competitor’s patent to uncover prominent technologies adopted by them, drives the market growth.


Advancement of the platform by the deployment of emerging technologies like machine learning, artificial intelligence, and the neural network is booming this market.


MARKET TRENDS


Request a Free sample to learn more about this report.


Integration of Artificial Intelligence (AI) in Patent Analytics Solution to be a growing Market Trend


Manually extracting relevant analytical information through a large number of patents and non-patent literature is a difficult task. The literature used for the studies exists in multiple languages, formats, and sources which makes the patent analysis more complex. Artificial intelligence technology majorly being used for supporting human intelligence on behalf of analyzing patent data.


AI-based semantic searches use an artificial neural network, to enhance patent discovery by improving accuracy and efficiency. For instance, in February 2018, PatSeer launched a natural language processing (NLP) text processing engine named ReleSense. The engine is constantly learning from publicly available scientific journals, patents, clinical trials, and associated data sources with the help of semantic rules. AI is gaining traction in the industry because of its capabilities to provide domain-specific analytics. Moreover, this technology is empowered with the language model and neural network intelligence which implements accurate, deep, and complete data for market insights. Thereby, AI is trending in this market.


MARKET DRIVERS


Integration of Machine Learning Technologies to Aid Market Growth


Machine learning (ML) is based on Bayesian analysis, predictive analytics, and data mining. Machine learning applications and algorithms are useful to solve complex, constraint-based business problems. These technologies perform a variety of tasks for streamlining the patent analysis process by classification, special concept maps and, clustering of large data. The ability of ML algorithms to find patterns in large-scale data sets, fuel its popularity in the market. The ML algorithms are widely used for prediction and data analysis. Thereby, the integration of machine learning technologies with the platform will subsequently augment market growth.


Cloud Computing to Empower the Intellectual Property (IP) Management Platform


Cloud computing offers access to on-demand and unlimited computing power, which empowers the analytic tools with enhanced capabilities. It also offers flexibility for IP professionals in data mining which contributes to the adoption of the advanced platform. Cloud computing support emerging technologies, like machine learning, big data analytics that can offer fast and deep analysis of large amount of data. Further, with the integration of emerging technologies, cloud computing supports predictive analysis that enhances the patent analytical capabilities. The popularity of cloud computing platforms like Amazon Web Services (AWS) and Google Cloud, increasing startups across countries fueling patent analytics market growth.


MARKET RESTRAINT


High Transactional Costs Associated with Software and Patent Applications to Impede Market Growth


Innovators are heavily investing at different stages of the innovation process, as well as for patent applications and filing processes. As the transactional cost for patent software, tools, and platforms as well as patent searches and negotiation services are high and affect the patent application filings. In addition, growing administrative cost to protect the patent, especially for individual innovators and small companies is limiting the patent application filing. Such high transactional cost for patent filing activities is affecting the adoption of patent software and services. However, many of the IPR related associations and institutes had taken initiatives to reduce transactional costs for patent filing to motivate innovators to attain patents for their innovations.


SEGMENTATION


By Component Analysis


Patent Analytics Services to Demonstrate High Growth Rate


By component, the market is segmented into solutions and services. The solution segment is expected to hold a major market share. Whereas, the services are likely to exhibit a significant growth rate.


Patent analytics software enables users to analyze patent data and understand future trends & predict future conditions. For example, Anaqua, Inc. offers AcclaimIP a patent search and analytics software. The software enables the users to visualize the patent information, and gain useful insights to make more informed business decisions.


Patent analytical software is evolving by leveraging advanced technologies such as artificial intelligence, machine learning, and cloud computing among others. For instance, according to an article published by IBM Corporation in 2018, the company is working on applying artificial intelligence to intellectual property management effectively. The company has developed IBM Intellectual Property (IP) Advisor built on its Watson platform, leveraging artificial intelligence capabilities for fast integration and improved analytical insights.


The development of software and tools such as geographic patent analysis software, and semantic analysis software among others is adopted by organizations, to strengthen their patent documents. Practically, patent analytical software or tools are being used for analyzing data as well as representing the data in various graphic formats for better understanding. Hence, these factors are likely to augment the demand for the market.


These services are expected to have remarkable growth. The increasing demand for custom intellectual property intelligence to address critical business decisions drives the need for intellectual property services. Intellectual property includes patents, trade secrets, domain names, trademarks, copyrights, service marks, and defensive publications.


By Services Analysis


Patent Strategy and Management Services to Dominate the Market Growth


The services segment is further categorized into patent landscapes/ white space analysis, patent strategy and management, patent valuation, patent support, patent analytics, and others (patent licensing, patent prosecution among others).


The patent landscape analysis service is an in-depth analysis to discover existing technologies and market trends in a specific domain. It is extracting value from vast information with the help of computer software and human intelligence. This type of analytics is also used to summarize the technology market overview, IP activities of competitors, and conduct white space analysis. For this, patent analytical and consulting services are primarily adopted by enterprises. Whereas, patent landscape consulting services discover and analyze existing patent related technologies and their market trends. Patent consulting services help innovators to compare and analyze innovation related patent trends. Thereby, patent consulting services drive the growth of this market.


Patent strategy and management services are majorly adopted by businesses and companies to gain a competitive advantage in the market by developing, managing, and optimizing the innovative products and solutions.


Similarly, patent valuation services cover future value forecast, financial modeling for estimating cash flows, and net present value. Patent valuation service follows different qualitative and quantitative approaches, to calculate the market size, profit margin, annual growth rate, and feasibility of the patented product.


The basic requirement for the interaction of an applicant or his legal representative with the patent office regarding patentability is accomplished by patent prosecution service. While, the capability to test technical and legal competency of the patent that has high value for the client, drives the demand for prosecution services. Besides, growing demand for other services like patent support, licensing, management is likely to drive the market in the coming years.


By Enterprise Size Analysis


Small and Medium Enterprises are Expected to Experience High Growth Rate


By enterprise size, the market is bifurcated into large enterprises and small & medium enterprises (SMEs). Large enterprises are already enriched with patent analytical platforms to further develop business and strategic transactions. Presently, large enterprises are holding a major share in the market, owing to the adoption of emerging analytical tools and technologies.


Startup firms and SMEs are adopting patent analytical solutions for empowering their business decisions and strengthen their innovations. Thereby, growing demand for patent analytical tools from SMEs expected to drive market growth. Although, customized offerings of key companies specifically for SMEs and startup firms are estimated to surge the market growth. However, the SME’s and large enterprises are likely to witness a downturn in the capital expenditures due to the spread of pandemic COVID-19 that would hamper their research and development investments in the near future.


By Industry Analysis


To know how our report can help streamline your business, Speak to Analyst


IT and Telecom Industry to Hold Major Market Share


Based on Industry, the market is classified as BFSI, IT & telecom, healthcare, automotive, media & entertainment, and others.


Customized and vendor-specific offerings of key players are flourishing the adoption of patent analytics platforms. Many banks from the U.S are majorly adopting advanced IP management solutions to stay competitive. For example, JPMorgan Chase, Bank of America, and Wells Fargo among others are the three major banks in the U.S that adopted the largest IP management platforms. These banks and financial institutes are expected to adopt a platform for intellectual property protection and procurement.


The IT and telecommunication sector have substantial research and development spending. According to the World Corporate Top R&D investors report 2015, the greatest patent filings are observed in the domains of electrical machinery and computer technology. Most of the telecom industries are filing patent applications related to telegraphic communications, data transmission, and methods of arranging and monitoring digital data. Research and development activities by major telecom players like Samsung, Nokia Corporation, Qualcomm, and Motorola, etc. are anticipated to drive the market growth.


Further, the automotive industry is also leading in terms of the adoption of the platform for identifying and exploring white spaces in the technological domain. Patent analytics tools defines research strategies, map competitor’s patents, protect inventions, and evaluates out-licensing opportunities. These capabilities offered by patent analytics solutions are enhancing the adoption of patent-related services across the automotive industry.


In recent years, the healthcare industry has witnessed innovative diagnostic and clinical innovations. The innovations in clinical data management systems such as electronic health record systems are enhanced R&D expenditure of healthcare industry.


Research and development initiatives in the healthcare sector have gained traction due to the spread of novel Coronavirus. The outbreak of the pandemic has led to a proliferating demand for effective and efficient healthcare facilities such as specific masks, sanitizers, particular medicines, and other health-related components. Thus, the healthcare industry is expected to witness notable adoption of analytics services in the coming years.


REGIONAL ANALYSIS


North America Patent Analytics Market, 2019 (USD Million)

To get more information on the regional analysis of this market, Request a Free sample


The Asia Pacific to Exhibit a Strong Potential the Market Growth


Geographically, the market is segmented across five major regions, namely North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. They are further categorized into countries. North America is anticipated to account for a major market share. While the Asia Pacific is estimated to exhibit a fascinating growth rate.


Some of the major R&D investors of the U.S. such as IBM Corporation, Amazon.Com, Inc. are representing a high degree of specialization in advanced technology innovations and technologies. These companies are emphasizing on the innovations of IoT, big data, and artificial intelligence, and many more technologies. The presence of such leading Innovators in the region drives this market across the North America. Considering this the U.S. is expected to exhibit a higher growth rate in the forthcoming years. As per the World Intellectual Property Indicators report (2018), the U.S. filed 230,085 patent applications across several domains, in 2018. These factors contribute to market growth across the region.


COVID-19 pandemic has affected the IP management and analytics industry in both a positive and negative manner. The U.S patent leader, IBM Corporation, granted free access to its medical and diagnostic patent portfolio to diagnose, prevent, contain, or treat coronavirus during the pandemic.


Asia Pacific (APAC) is expected to exhibit a remarkable growth rate during the forecast period. China accounts for a significant share in the global patent filings. According to WIPO, intellectual property (IP) office in China had accounted for 46.6% global share in patent registration, in 2018. The growth of filing patent applications by china is followed by other Asian countries like Japan, India, and the Republic of Korea. Thereby, APAC is expected to boom the industry after the year 2021.


However, the downturn in the global economy due to the outbreak of pandemic COVID-19 is likely to limit the spending of the enterprise on research and development activities. As a result of which the market is expected to witness a decline in patent filings. This is likely to hamper the market growth in 2020 and 2021.


Although, the European Union (EU) had increased its Research & development (R&D) budget to strengthen its international innovation competitiveness. However, Europe is demonstrating moderate growth in the market. The region has been recorded for a slow growth rate in patent application filing activity. Besides, Germany had recorded a 0.3% growth in 2018, according to the WIPI report.


KEY INDUSTRY PLAYERS


PatSnap to Adopt Partnership and Collaboration Strategy to Enhance the Product Penetration


Several companies such as PatSnap are emphasizing on strategic partnerships and collaborations to expand their products and business portfolio across the world. PatSnap. is focusing on the continuous development of its product portfolio. The company attracts customers by offering connected innovation intelligence API. The APIs are can offer user-friendliness so that business leaders and consultants can effectively make patent analytics without any prior experience.



  • May 2018 - In order to expand the company business in the Turkish market, PatSnap strategically partnered with TLS.IP consultancy firm based in Turkey.

  • March 2020 - The PatSnap collaborated with a division of the American Chemical Society named CAS, to strengthen its patent analytical platform with strong database, to deliver enhanced information solutions.


Key Players Focusing on Delivering Enhanced Products to their Customers


Key players in the market are focusing on developing customized solutions, at every stage of the IP life cycle. As the small & medium enterprises (SME’s) are growing exponentially, many of the key players are offering customized solutions for startup firms and SME’s. In addition, companies are offering patent analytical solutions as well as training, education, and consulting services through domain-specific expertise teams to strengthen their market position.


Moreover, several key players are focusing on the continuous development of their product portfolio by leveraging advanced technologies like machine learning, AI, blockchain, cloud computing, and many more. Further, strategic partnerships and collaborations enhance the market position of key vendors.



  • April 2019 - Gridlogics launched the NLP text processing engine for patent and scientific literature. The engine has been optimized with AI-driven capabilities like predictive-analytics and searches to categorization which empowers intellectual property (IP) solutions.

  • July 2017 - Xiaomi acquired the patent assets of Nokia Corporation. Also, Nokia Corporation collaborated with Xiaomi for a cross-licensing to each company's cellular standard-essential patents.


List of Key Companies Profiled:



KEY INDUSTRY DEVELOPMENTS:



  • May 2019 – Canon, Inc., based in Tokyo, deployed Anaqua, Inc. patent platform for managing its global patent portfolio. Canon, Inc. is using this platform for patent search & analysis tools, for efficient prosecution and management of the company’s intellectual property assets.

  • April 2020 – Gridlogics, launched a full-stack IP intelligence solution named PatSeer 360, which is designed to streamline IP decision making by offering the powerful and relevant set of IP business insights.


REPORT COVERAGE


The patent analytics market report offers qualitative and quantitative insights and the detailed analysis of market size & growth rate for all possible segments in the market. Along with this, the report provides an elaborative analysis of market dynamics, emerging trends, and competitive landscape.


An Infographic Representation of Patent Analytics Market

To get information on various segments, share your queries with us



Key insights provided in the report are the adoption trends of the market by individual segments, recent industry developments such as mergers & acquisitions, consolidated SWOT analysis of key players, partnerships, Porter’s five forces analysis, and business strategies of leading market players, key industry trends, macro, and micro-economic indicators.


Report Scope and Segmentation














































 ATTRIBUTE



 DETAILS



Study Period



  2016 – 2027



Base Year



  2019



Forecast Period



  2020 – 2027



Historical Period



  2016 – 2018



Unit



  Value (USD million)



By Component




  • Solutions

  • Services

    • Patent Landscapes/White Space Analysis

    • Patent Strategy and Management

    • Patent Valuation

    • Patent Support

    • Patent Analytics

    • Others (Patent Licensing, and Patent Prosecution, etc.)





By Enterprise Size




  • Large Enterprises

  • Small & Medium Enterprises (SMEs)



By Industry




  • IT and Telecommunications

  • Healthcare

  • Banking, Financial Services and Insurance (BFSI)

  • Automotive

  • Media and Entertainment

  • Food and Beverages

  • Others (Government, and Education etc.)



By Region




  • North America (the U.S. and Canada)

  • Europe (the U.K., Germany, France, Russia, and Rest of Europe)

  • Asia Pacific (Japan, China, India, South East Asia and Rest of Asia Pacific)

  • The Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)

  • Latin America (Brazil, Mexico and Rest of Latin America)



Frequently Asked Questions

As per our (Fortune Business Insights) study, the global market is predicted to reach USD 1,668.4 million by 2027 with a CAGR of 12.4% (2020 – 2027).

BFSI, IT & telecom, healthcare, and automotive prominently use solutions and services.

In 2019, the global market was USD 657.9 million, and it is anticipated to reach USD 1,668.4 million by 2027, reflecting a CAGR of 12.4 % during the forecast period from 2020 to 2027.

In the market, the services segment is projected to experience flourishing growth during the forecast period.

The cloud computing and integration of the platform with emerging technologies like AI, ML driving the growth of the market.

Some of the major players in the market are IBM Corporation, Clarivate, Inc., and Microsoft Corporation, etc. among others.

Patent Analytics Market Size, Share and Global Industry Trend Forecast till 2026
  • May, 2020
  • 2019
  • 2016-2018
  • 150

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization

Information & Technology Clients

ABB_logo
HP_New_Logo_2D
microsoft
Coursera
Samsung

Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info.
X