Technavio's optimistic projection suggests that the global intellectual property (IP) software market is poised for significant growth. With a potential increase of USD 7.96 billion from 2025 to 2029, the market boasts a robust CAGR of almost 19.6%.
The report describes the IP software market as “a dynamic and essential business sector that caters to organisations and individuals in managing, protecting, and leveraging their IP rights”.
The sector offers a range of solutions, including innovation intelligence, R&D analytics, IP management, patent filings, trademark management, document management, patent prosecution, and licensing.
Key market trends
A key factor contributing to market growth is the growing adoption of IP software to improve business. Significant trends in business innovation and IP protection have also affected market growth.
Artificial Intelligence (AI) is a game-changer in the IP software industry, revolutionising document management, data control, and patent application processes.
Market challenges
Despite its promising growth, the IP software market is not without its challenges. The complexities of patent filings, patent prosecution, and trademark management, along with the absence of stringent IP laws in certain countries, weak enforcement, and rampant piracy, pose significant hurdles to its expansion.
The report covered six geographies across the world, including APAC.
