The size of the global patent analytics market was estimated at USD 904.1 million in 2022, and it is anticipated to increase from that amount to USD 1,007.8 million in 2023 to USD 2,364.6 million by 2030, with a CAGR of 13% over the course of the forecast period.
To separate, automate, and analyze searches for intellectual property (IP), many companies use patent analytics software. The demand for analytics solutions has increased as a result of the rising number of patent filings around the world as a result of increased R&D activities. Global patent applications totaled about 277,500 in 2021, according to a World Intellectual Property Organization (WIPO) report. In order to provide services like advanced search and exploration, market leaders are also concentrating on integrating cutting-edge technologies into their analytics solutions.
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Which company dominates the Global Patent Analytics Market?
- Anaqua, Inc. (U.S.)
- Clarivate Analytics Plc (U.K.)
- LexisNexis (U.S.)
- Gridlogics (India)
- Harrity & Harrity, LLP (U.S.)
- IBM Corporation (U.S.)
- Minesoft Ltd. (U.K.)
- Ocean Tomo, LLC (U.S.)
- Wynne-Jones IP Ltd (U.K.)
- PatSnap Limited (U.K.)
What are the factors driving the growth of the Patent Analytics Market?
The demand for analytics tools has increased as a result of increased research and development (R&D) activities in the manufacturing, healthcare, IT, and telecommunications industries, among other sectors. Before launching their innovative products, end users in these sectors make sizeable investments while filing for IP rights. For established market players, these elements open up a wealth of opportunities. For instance, the Samsung Electronics 2021 Business Report states that in 2021, the company invested approximately USD 17.38 billion in research and development and had 47,900 Korean and 84,202 American patents. Additionally, the company owned 216,404 patents worldwide.
What are the market's geographic insights for Linux operating systems?
The market is divided geographically into five main areas: Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa. Country-level divisions are made for them.
According to projections, North America will continue to dominate the market. An increasing number of IP rights filings in the healthcare, IT & telecommunication, and other sectors are to blame for the growth. Several important businesses that work in the healthcare and IT & telecommunication industries are located in this area.
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An overview of the report
- The report comprehensively analyzes recent and anticipated market trends to help investors find investment opportunities.
- Market predictions through 2028, starting from estimated market values
- Market trends that are significant across industries, regions, and countries
- Market strategies and significant developments observed
- Market dynamics like drivers, obstacles, opportunities, and other trends require
- comprehensive company profiles of significant players, both established and emerging
- Emerging economies are anticipated to grow through 2028.
Analysts have segmented the "Patent Analytics Market" into application, type, and regional segments to aid market participants in better understanding the market. Each element clearly demonstrates the variables that are most likely to have an impact on it and the variables that are anticipated to have a limit. The reader can access specific market updates thanks to the segmented explanation. The market research report on Patent Analytics Market Trends also discusses evolving environmental concerns, shifting political environments, and various government approaches to regulatory reforms.
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