Patent Analytics Market Size, Share, Competitive Landscape and Trend Analysis Report, by Services, by Component, by Enterprise Size, by Industry Vertical : Global Opportunity Analysis and Industry Forecast, 2024-2032

Industry Trends: 

• In August 2024, the U.S. Government launched the Trademark Trial and Appeal Board (TTAB) Center open beta for filing notices of opposition. An opposition is a TTAB proceeding in which an individual may challenge the registration of a trademark.   

• In June 2024, USPTO signed a memorandum of understanding (MOU) with the UK IP office to provide a framework for collaboration between the two offices on policies relating to standard essential patents (SEPs). 

Key market dynamics 

The global patent analytics market is growing due to several factors such as the need to protect the latest inventions from being used by others and cloud computing to encourage intellectual property rights. In addition, the use of analytics to make predictions and reach conclusions is fueling the growth of the market. However, high transactional expenses related to software and patent applications are hampering the growth of the market. Furthermore, the growing investments in the fields of research & development to innovate products and technologies are providing lucrative opportunities for the growth of the patent analytics market during the forecast period. 

AI Technology Patents 

In the rapidly advancing field of technology, Artificial Intelligence (AI) is a notable area of focus.  This field, where machines are designed to simulate human intelligence, is a center of both innovation and patent competition. Key players in this arena are major companies that are not only involved in developing AI but also in securing their developments through patents. These leading companies are actively engaging in AI research and development, and through their patent filings, they are protecting their innovations. 

FIGURE 1: AI Technology Patents (%)  

Market Segmentation 

The patent analytics market is segmented into services, components, enterprise size, industry verticals, and regions. In terms of services, the market is fragmented into patent landscapes/white space analysis, patent strategy and management, and patent valuation. On the basis of components, it is categorized into software and services. Depending on the enterprise size, it is divided into large enterprises and small and medium-sized enterprises. On the basis of industry vertical, it is classified into BFSI, IT & telecom, automotive, healthcare, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. 

Regional/Country Market Outlook 

The patent analytics market in the U.S. is robust and rapidly expanding, driven by several key factors. The country's technological leadership and innovation capacity are pivotal, with numerous established and emerging companies specializing in advanced analytics solutions. Moreover, the UK’s financial sector is a major adopter of patent analytics, leveraging it for risk management, fraud detection, customer insights, and regulatory compliance. The financial services sector in China is increasingly adopting patent analytics for risk management, fraud detection, customer segmentation, and credit scoring. Financial institutions use patent models to analyze transaction patterns, assess credit risks, and personalize financial products. 

• In April 2024, the Government of Canada invested $2.4 billion in artificial intelligence as part of the country’s annual federal budget. The investment will be earmarked toward providing AI researchers and startups access to computing capabilities and technical infrastructure. 

• In March 2024, the Government of India approved a $1,248.74 million investment for the national-level India Artificial Intelligence (AI) mission. This aligns with the vision of 'Making AI in India' and 'Making AI Work for India’ by establishing a comprehensive ecosystem. 

Competitive Landscape 

The major players operating in the patent analytics market include Clarivate Analytics, Intricate Research, IDTechEx Ltd, Anaqua Inc., Wynne-Jones IP Limited, Ocean Tomo LLC, Harrity & Harrity LLP, IP Wagon Pvt. Ltd., PatentSight GmbH, Excelon IP. 

Recent Key Strategies and Developments 

• In February 2024, MaxVal Group, Inc. (“MaxVal”) partnered with Relecura. The partnership establishes MaxVal as a reseller of Relecura’s services. The partnership also enables MaxVal to integrate Relecura’s solutions into MaxVal’s flagship IP management platform, Symphony. 

• In May 2023, IamIP partnered with Patentest. This partnership signifies a notable milestone for both companies and paves the way not only for growth and innovation in the Intellectual Property landscape but also for more exciting opportunities for the users of the platform.  

Key Sources Referred 

• World Intellectual Property Organization (WIPO)  

• European Patent Office (EPO)  

• United States Patent and Trademark Office (USPTO)   

• Japan Patent Office (JPO)  

• Korean Intellectual Property Office (KIPO)   

• China National Intellectual Property Administration (CNIPA)  

• International Patent Classification (IPC) Committee 

• Organization for Economic Co-operation and Development (OECD)  

• United Nations Conference on Trade and Development (UNCTAD)  

• World Trade Organization (WTO)  

Key Benefits For Stakeholders 

• This report provides a quantitative analysis of the patent analytics market segments, current trends, estimations, and dynamics of the patent analytics market analysis from 2023 to 2032 to identify the prevailing patent analytics market opportunities. 

• The market research is offered along with information related to key drivers, restraints, and opportunities. 

• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network. 

• In-depth analysis of the patent analytics market segmentation assists to determine the prevailing market opportunities. 

• Major countries in each region are mapped according to their revenue contribution to the global patent analytics market statistics. 

• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players. 

• The report includes the analysis of the regional as well as global patent analytics market trends, key players, market segments, application areas, and market growth strategies.