Patent analytics market is anticipated to grow at a significant CAGR of 13.4% during the forecast period. According to World Intellectual Property Organization (WIPO), a record 277,500 international patents were filed in 2021, marking a 0.9-percent increase from 2020. Patent searching and analysis can provide actionable insights for businesses, allowing them to make strategic decisions from idea conception to monetization. Thus the increasing patent filings globally, the growing need to protect the latest inventions from being used by others, and increasing investment by market players in patent analytics companies are prime factors driving the growth of the patent analytics market. For instance, In march 2021, PatSnap, which offers a patent and R&D platform and services, announced that it raised $300 million in series E funding from SoftBank Vision Fund 2 and Tencent Investment. The company plans to use the funds to further develop its intelligence platform, support software product development, and expand the size of its global workforce. However, higher transactional costs associated with software and other services and the financial burden on the world economy due to the slowing growth of economies are some of the factors anticipated to restrain the market growth.
Get Sample Copy of this Report at
https://www.omrglobal.com/request-sample/patent-analytics-market
Segmental Outlook
The global patent analytics market is segmented based on the component and end-user. Based on the component, the market is segmented into solutions and services. The services sub-segment includes patent landscapes/white space analysis, patent strategy, and management, patent valuation, patent support, patent analysis, and others including patent licensing, patent prosecution, and others. Based on the end-user, the market is sub-segmented into IT & telecom, healthcare, BFSI, automotive, media & entertainment, and others that include government and education.
full report of available
https://www.omrglobal.com/industry-reports/patent-analytics-market
According to WIPO, a record 277,500 international patents were filed in 2021, There is a growing trend among large enterprises such as IT companies, pharmaceuticals, and telecom companies to spend a substantial amount on research and development to gain a competitive advantage. Thus accelerated demand for analytical tools and increasing R&D activities in the healthcare & IT and telecommunication sector are primary factors driving the market growth of the large enterprise sub-segment.
by Component (Solutions and Services), and
by End-User (IT & Telecom, Healthcare, BFSI, Automotive, Media & Entertainment, and Others)
Market Players Outlook
The major companies serving the global patent analytics market include Anaqua, Inc., Clarivate Analytics Plc, LexisNexis, Gridlogics, Harrity & Harrity, LLP, IBM Corporation, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerhips, collaborations, funding, and new product launches, to stay competitive in the market. For instance, In February 2021, Anaqua acquired Quantify IP. The move will further strengthen Anaqua’s strategic line of IP management solutions and offers law firms and corporations advanced portfolio cost budgeting and forecasting tools to enhance their IP management strategy.
The Report Covers
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global patent analytics market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
For More Customized Data, Request for Report Customization
https://www.omrglobal.com/report-customization/patent-analytics-market
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offers Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: [email protected]
Contact no: +91 780-304-0404