Top Trends in the Global Intellectual Property Services Market
According to Transparency Market Research's (TMR) latest research report on the global intellectual property services market for the historical period 2018 - 2019 and the forecast period 2020 - 2030, increased use of outsourced services to preserve intellectual property (IP) owners' rights and privileges are likely to enhance the global intellectual property services market over the forecast period.
The global intellectual services industry was valued at over US$2.1 billion in revenue in 2019 and is expected to increase at a compound annual growth rate of 12% from 2020 to 2030. By the end of the projection period, the market is estimated to have surpassed the value of US$ 5.8 billion.
Source: Transparency Market Research
Factors that are likely to influence the growth of the global intellectual services market are:
increasing application or registration of patents;
increasing illegal and unauthorized sales of tangible and intangible assets, which has spurred an adoption of intellectual property services, to be protected by regulations and laws from unauthorized use of their rights;
the launch of international brands and their content releases;
the increased reliance on artificial intelligence in the digital health sector and the need to protect data, to empower AI in medical applications;
the presence of key market players in North America and Asia Pacific;
technological advancements in North America;
growth of customer spending in outsourced IP services in North America;
significant rise in commercial investment in intellectual property services in Europe;
a rising number of intellectual property service providers in countries, such as France, the U.K. and Germany; and
an increasing adoption of intellectual property services among IT & telecom and manufacturing businesses in Asia Pacific.
According to TMR's report, the key players in the global intellectual property services market include Acumun Group, Baker McKenzie, CPA Global Ltd., Dennemeyer Group, ipMetrix Consulting Group, LexisNexis, Linklaters, McDermott Will & Emery LLP Inc., PatSnap Pte. Ltd., Synoptic Intellectual Patents (P) Limited, and Wynne-Jones IP Ltd. In addition, the report evaluates the financials, key product offerings, recent developments, and strategies of these key players.
There have been significant partnerships and key development by these key players in recent times. These include a partnership between Baker McKenzie LLP and SparkBeyond Ltd., to assist SparkBeyond Ltd to reimagine legal client services in the future. In addition, CPA Global Ltd. partnered with Brügmann Software GmbH to provide smart data integration solutions across the IP management system. Anaqua, Inc. has also partnered with Clarivate PLC to expand its business operations in Europe with advanced IP solutions and services.
There is no doubt that the potential future development of the global intellectual property services market will be on an upward trajectory. This is why our service offerings at Lead IP is structured to assist you to generate more leads, find service providers in other jurisdictions to improve your company's IP process, and reach your target audience faster through efficient partnership.