Global Intellectual Property Rights and Royalty Management Market Size, Industry Analysis By Segmentations, Top Key Players, Trends ,Regional Analysis & Forecast 2023-2032

 

Global Intellectual Property Rights and Royalty Management Market

The Intellectual Property Rights and Royalty Management market size is estimated at USD 8,057.5 million in 2022 and is expected to reach USD 25,524,5 million by 2031, growing at a CAGR of 17.7% from 2022 to 2031.

The development and management of intellectual property is one f the major concern for enterprises, especially among artistic, cultural, and technology industries. Hence, intellectual property rights and royalty management software can help enterprises in understanding intellectual property’s potential as a catalyst for social and cultural well-being and economic growth.

Intellectual property assets boost economic development in various ways. Many companies are gaining royalty incomes from licensing their intellectual property assets to other parties.

 

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Intellectual property assets boost economic development in various ways. Many companies are gaining royalty incomes from licensing their intellectual property assets to other parties.

·         For instance, according to World Intellectual Property Organization (WIPO), the U.S. has earned sales and licensing revenues of approximately US$ 23.5 Bn from overseas. Similarly, Japan, followed by the Republic of Korea, Germany and U.K., earned US$ 16.1 Bn, US$ 6.2 Bn, US$ 5.6 Bn and US$ 5.4 Bn respectively.

Therefore, organizations are focusing on protecting and managing their intellectual properties. Protection for any intellectual property is granted for a limited period of time, commonly 20 years. Hence, the organizations should renew their licensing time to time.

Multiple technologies and solutions are developed with an aim to protect products from duplication. At present, heavy growth in the illegal and unauthorized sales of tangible & intangible assets is one of the major factor which is anticipated to boost the demand for intellectual property rights and royalty management software across the world. The owners of intellectual property are highly focused on adopting intellectual property rights and royalty management software to be protected by law and regulations from unauthorized use of their rights.

An important fact about authorized protection of intellectual property is that it turns intangible assets into private property rights; however, for a restricted period of time only. It allows small and medium enterprises to claim proprietorship over their intangible assets and exploit them to their extreme potential.

For instance, stock market brokers, investors and financial advisers are becoming aware of growing unauthorized utilization of the technology and software and have started to value intellectual property assets highly. Various enterprises, including small and medium enterprises, have initiated to accept IP audits and regular technology.

Lack of awareness of intellectual property rights and royalty management systems and their utility among enterprises is one of the major restraining factor to this market. In addition, adoption rate of intellectual property rights and royalty management software is growing among the end-user as the awareness of IP systems and their usefulness increases. High cost associated with the intellectual property rights and royalty management system is another major challenge in the large-scale adoption of intellectual property rights and royalty management software. This is largely due to the high costs of patenting and costs related to the adoption of IP rights. This would have limited the adoption of the patent system by SMEs. Consequently, this factor is estimated to inhibit the expansion of the intellectual property software market during the forecast period.

COVID-19 Insights

During COVID-19 pandemic intellectual property rights and royalty management vendors are focused on inorganic growth strategy such as strategic collaborations and merger and acquisition activities with competitors or technology partners to develop innovative and advanced intellectual property rights and royalty management solutions to improve their offerings and market reach.

·         For instance, In February 2021, Anaqua, Inc. has acquired Quantify IP, an IP cost estimating software provider, to offer advanced intellectual property cost budgeting and forecasting capabilities. The main aim behind this acquisition to strengthens 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.

·         In June 2020, Anaqua, Inc. has acquired O P Solutions, Inc., a provider of high-quality software to the intellectual property legal community, for IP expansion into midsized, small firms

During the COVID-19 pandemic, digitalization of traditional sectors such as banking, retail, health, education and manufacturing is the wider noteworthy effect of the pandemic. Hence, demand for intellectual property rights and royalty management is increases in order to keep their IP of assets.

From remote workforce management, digital service delivery, e-commerce and contactless payment and delivery, to digitalized inventory management and remote track and trace systems in supply chain logistics, the COVID19 pandemic has reinforced the value of digital transformation to business.

 

Market Segmentation:

By Component

·         Software

·         Services

o   Professional

o   Managed

By Deployment

·         On-premise

·         Cloud

By Enterprise Size

·         Small & Medium Enterprise

·         Large Enterprise

By End-user

·         Retail & Consumer Goods

·         IT & Telecommunication

·         Healthcare & Life Sciences

·         Travel & Hospitality

·         Media & Entertainment

·         Government

·         Others

By Geography

·         North America

o   U.S.

o   Canada

o   Mexico

·         Europe

o   U.K.

o   Germany

o   France

o   Italy

o   Spain

o   Russia

·         Asia-Pacific

o   Japan

o   China

o   India

o   Australia

o   South Korea

o   ASEAN

·         Latin America

o   Brazil

o   Argentina

o   Colombia

·         MEA

o   South Africa

o   Saudi Arabia

o   UAE

o   Egypt

 

Key Player:

Some of the key players operating in the global Intellectual Property Rights and Royalty Management market include:

·         IBM Corporation

·         Oracle Corporation

·         Dependable Solutions

·         Anaqua

·         Lecorpio

·         Ipfolio

·         Capgemini

·         RSG Media

·         FADEL

·         Vistex

·         Klopotek

·         Filmtrack

 

Regional Analysis:

By region, the global Intellectual Property Rights and Royalty Management market is segmented into North America, Europe, Asia-Pacific, Central and South America, and the Middle East and Africa. North America accounted for a large share of the global market in 2021 at ~35%. In North America, U.S. is the hub of advanced technology. North America holds the highest market share in the intellectual property rights and royalty management market. This is primarily due to the presence of technology advanced players and well establish end-user. The North American region is largely investing in the adoption of intellectual property rights & royalty management solutions in order to protect their innovations and assets across various verticals like healthcare & life sciences, IT & telecom, and others. Hence, fueling the demand for the intellectual property rights and royalty management market across different verticals in the region. The increasing need for higher productivity is one of the major factors expected to boosting the growth of the intellectual property rights and royalty management market. Growing emphasis on patent protection for software-implemented inventions is expected to create new opportunities for intellectual property software market across the European region. Hence, fueling the demand for the intellectual property rights and royalty management market across different verticals in the European region.

 

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