Intellectual property is primarily a collection of various priceless business assets that provide organizations with an advantage over competitors. It is not just a collection of legal privileges that should solely concern lawyers. Trade secrets, patents, and copyrights are all covered because the IP is the source of value, controlling, organizing, and reviewing it becomes essential. Managing all prospective intellectual property assets has become one of the most crucial components of securing a presence in the market as the firm grows.

According to a new report published by Allied Market Research, titled, “Intellectual Property Management Market," The intellectual property management market was valued at $8.6 billion in 2022, and is estimated to reach $37.7 billion by 2032, growing at a CAGR of 16.3% from 2023 to 2032.

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COVID 19 Impacts:

➢ The COVID 19 pandemics have an impact on international industries.

➢ The Intellectual property management market was adversely affected by the COVID-19 epidemic. Like other sectors and businesses, the area of intellectual property and legal services may suffer from a protracted crisis made worse by COVID-19.

➢ There is a chance for huge growth in the intellectual property sector after the pandemic, as a post-COVID world is more likely to encourage tech businesses to license their current IP portfolios and motivate their cash reserves.

➢ The demand for IP management services has increased due to the growing number of patent filings and the need for businesses to protect their intangible assets. During the anticipated time, this tendency might help the market for IP management software.

The IT and telecom segment to rule the roost by 2032

By end user, the IT and telecom segment accounted for nearly one-third of the global Intellectual property management market share in 2022 and are projected to rule the roost by 2032. Due to the fact that they offer a framework for sharing and licensing intellectual property. Intellectual property management also makes corporate partnerships and collaborations easier. The manufacturing segment would cite the fastest CAGR of 20.6% throughout the forecast period, owing to the identification, protection, and exploitation of a company's intellectual assets, such as patents, trademarks, copyrights, and trade secrets, which constitute intellectual property management in the manufacturing industry.

The software segment to maintain its leadership status throughout the forecast period

By component, the software segment held the major share in 2022, contributing to nearly three-fourths of the global intellectual property management market revenue, and is projected to maintain its leadership status throughout the forecast period. Due to a number of businesses implementing intellectual property management solutions for security and protection, the adoption of these solutions is further aided by the automated capabilities and improved visibility that digital immune technologies provide for identifying and thwarting threats. However, the services segment would showcase the fastest CAGR of 18.4% during the forecast period, owing to the use of software programmes that maximize the cost of an existing installation by optimizing it and reduce deployment costs and risks, all of which contribute to the growth of the market for intellectual property management.

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Asia-Pacific garnered the major share in 2032

By region, North America held the major share in 2022, garnering more than one-third of the global intellectual property management market revenue. Due to the increase in the need to protect creations of the mind in the U.S., which is further driven by the economic, technological, and cultural significance of intellectual property, as well as the need to combat counterfeiting, piracy, and global competition. On the other hand, the Asia-Pacific region is projected to retain its dominance in terms of revenue by 2032. The same region would also portray the fastest CAGR of 19.3% during the forecast period. Owing to significant technological advancements in areas such as electronics, telecommunications, automotive industries, and consumer goods. As a result, these advancements have led to a surge in intellectual property creation and the need for effective management and protection.

The on-premise segment to maintain its dominance during the forecast period

By deployment mode, the on-premise segment contributed to the highest share in 2022, accounting for more than three-fifths of the global intellectual property management market revenue, and is expected to maintain its dominance during the forecast period. owing to a broad spectrum of advantages, including end-to-end control of the software, protection of intellectual property within the business, and the ability to manage significant customization of the software whenever required. On the other hand, the cloud segment would exhibit the fastest CAGR of 18.2% throughout the forecast period, owing to solutions hosted and maintained by a third-party provider. This enables enterprises to pay on a need-based basis and efficiently scale up or down depending on user requirements, overall consumption, and the growth of the company.

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Leading Market Players

➢ patrix ab

➢ Clarivate plc

➢ TM Cloud

➢ Cardinal Intellectual Property

➢ Questel

➢ Patsnap

➢ Anaqua, Inc.

➢ Alt Legal, Inc.

➢ Innovation Asset Group, Inc.

➢ Gemalto NV (Thales Digital Identity and Security)

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies.

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