The Patent Analytics Market: Overview
The Patent Analytics Market is valued at around USD 907.6 million in 2022 and is expected to reach USD 2,099.3 million by 2030, registering a CAGR of 12.7% over the forecast period. Patent analytics is a methodical procedure that involves categorising data obtained from a collection of patents. To gather information on rivals, technology, business valuation, market trends, and fresh commercial opportunities, it may involve qualitative, quantitative, or a combination of the two types of assessments of patents filed by others. Patents are a crucial asset for any tech start-up, and patent analytics is seen as a tool for growth and strategy. A patent application is viewed as a strategic business move because it grants a monopoly in the market, aids in generating income through licencing, and occasionally aids in the formation of valuable corporate alliances. Furthermore, patents filed by third parties may contain a wealth of information, including the name of the patent holder, the country in which the patent was filed, and technology-related information such as the invention’s intended use(s), its technical features, and the problems it solves, among other things.
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The Patent Analytics Market – Growth Factor
Clearly, strategic planning and wise decision-making could benefit from the extensive analysis of patents filed by others known as “”patent analytics.”” Such benefits provided by patent analytics are anticipated to grow the market for patent analytics internationally. Technology intelligence, competitive and strategic intelligence, company growth, and financial analysis and reporting are some significant applications of patent analytics. A rise in patent applications from companies looking to protect their discoveries is anticipated to accelerate market expansion. While concerns about how technology affects society and the environment are growing, the Internet of Things and technical developments in the sector are altering the subject’s nature and heightening its complexity, which forms the basis of patent applications.
The Patent Analytics Market – Market Trends
The nature, volume, and features of patent data are rapidly altering as a result of increased entrepreneurial activity and the creation of inventive solutions in emerging economies.
Furthermore, cutting-edge technologies like data and text mining, machine learning, AI, deep learning, big data, cloud computing, etc. are transforming patent analytics and having a big impact on the global market for patent analytics.
Business choices involving the evaluation of possibilities, challenges, and dangers may benefit from using patent analytics and mapping as a solid foundation.
A rise in patent applications from companies looking to protect their discoveries is anticipated to accelerate market expansion. The three main markets are projected to be Asia, North America, and Europe.
The Patent Analytics Market – Segmentation
The Patent Analytics Market fragrance concentrates market has been sub-classified into services, component, enterprise size, industry vertical.
On the basis of services, the Patent Analytics Market is bifurcated into:
• Patent landscapes/white space analysis
• Patent strategy and management
• Patent valuation
• others
On the basis of component, the market is segmented into:
• software
• services
• others
On the basis of enterprise size, the market segmented into:
• large enterprises
• small and medium enterprises
• Others
On the basis of industry vertical, the market segmented into:
• BFSI
• IT and Telecom
• Automobile
• Healthcare
• Others
The Patent Analytics Market –Regional Analysis
North America dominated the global Patent Analytics Market, Patent analytics companies in the US are concentrating on providing cutting-edge solutions and services for different industries. The number of patent applications filed in the nation has increased, which is fuelling market expansion.
The existence of well-known significant firms who provide cutting-edge patent analytics software and services is another factor contributing to the region’s success. Additionally, the US market is the one that changes and is most competitive globally. In addition, the region is projected to adopt new technology more quickly than other nations in the world.
The Patent Analytics Market – Key Market players
Global key players of Patent Analytics Market include Anaqua, Inc. (US), Clarivate Analytics Plc (UK), LexisNexis (US), Gridlogics (India), Harrity & Harrity, LLP (US), IBM Corporation (US), Minesoft Ltd. (UK), Ocean Tomo, LLC (US), Wynne-Jones IP Ltd (UK), PatSnap Ltd (UK), IDTechEx Ltd (UK), IP Wagon Pvt. Ltd. (India), and others.
Report scope
Global Market: Historical Years- 2018-2021
Global Market: Forecast Years- 2022-2030
Global Market 2022- USD 907.6 million
Global Market 2030- USD 2,099.3 million
Global Patent Analytics Market CAGR- 12.7%
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Key Questions answered with an analysis in this report:
- What are the current market trends? Will there be an increase or decrease in market demand in the following years?
- Which product categories are expected to have the highest demand? What kind and applications might we expect in the future?
- What Economic Predictions are Available for the Industry Considering Capacity, Production, and Production Value?
- Which costs and profits are projected? What Will the Market Share, Consumption, and Supply Be? How do imports and exports operate?
- In light of the strategic advancements, where will the industry be in the mid- to long-term?
- What are the primary raw materials employed in the production?
- What is the value of the global market? How much was the market worth in 2022?
- Which companies are the main players in the market? Which businesses are leading the pack?
- What are the current business trends that can be used to create new sources of income?
- What Entry Strategies, Economic Impact Countermeasures, and Marketing Channels Should the Industry Use?
