Intellectual Property (IP) Services Market Size (2024 – 2030)

The global intellectual property (IP) services market was valued at USD 2.8 billion and is projected to reach a market size of USD 6.38 billion by the end of 2030. Over the forecast period of 2024–2030, the market is projected to grow at a CAGR of 12.48%. 

Intellectual property (IP) includes innovations, literary and creative works, designs, names, symbols, and pictures used in trade. IP is legally safeguarded by trademarks, copyrights, and patents. IP services may support and encourage the creation and marketing of novel goods and services. They offer a means of combating infringement, piracy, and unauthorized usage. In the past, the market had a notable presence. Areas including patent writing, prosecution (filing and securing patents), trademark registration, and copyright protection were the main emphasis of IP services. Presently, the market has expanded significantly due to globalization and an increase in the number of companies offering services. In the future, with a focus on regulatory changes and technological advancements, a considerable upsurge is anticipated.

Key Market Insights:

IP-intensive sectors in the US account for 27.7% of all employment. In 2023, India issued more than 22,000 industrial patents. With 3,596,901 patents, China held the record for the most patents in 2022. In 2023, the US market for intellectual property licensing was valued at $62.18 billion. The IPRCC reports that within the last year, there has been a 21% rise in the number of cases brought against IP theft. To tackle this, educational awareness programs about the importance of intellectual property rights (IPR) are being implemented. Legal frameworks are being strengthened to avoid fraud.

Intellectual Property (IP) Services Market Drivers:

Increasing knowledge, coupled with regulatory enforcement, is contributing to market success.

The demand for IP services is driven by rising corporate and individual awareness of the importance of IP rights, as well as more stringent government and regulatory enforcement actions. Companies are turning to IP service providers for help with tasks like managing their IP portfolios, defending legal positions, and thwarting counterfeiting attempts as they grow more aggressive in safeguarding their intellectual property and preventing infringement. Patents, copyrights, and trademarks are a few examples of intellectual property that are legally protected and allow people to profit financially or get notoriety from their inventions. The need for specialized IP services is also fueled by international agreements and legislative developments that attempt to reinforce intellectual property rights.

Technological innovations are accelerating the growth rate.

New ideas and intellectual property assets are produced regularly by the ongoing technological advancements in many different sectors. Companies look for intellectual property services so that they may use copyrights, trademarks, and patents to safeguard their discoveries. Furthermore, new IP protection possibilities and problems are presented by emerging technologies like blockchain, big data analytics, and artificial intelligence, which is increasing the need for specialized IP services catered to these industries. Prior art searches, patent landscaping, trademark monitoring, and infringement detection are a few of the applications for these systems. IP professionals can make well-informed decisions and optimize their processes by utilizing AI-powered solutions that can analyze large volumes of data more effectively than human analysts. Blockchain-based smart contracts enable safe, transparent transactions by automating IP rights licensing and transfers. Predictive modeling, which predicts future IP trends and highlights possible dangers and opportunities, is made possible by big data analytics.

Intellectual Property (IP) Services Market Restraints and Challenges:

Legal frameworks, investments, lengthy processes, and intellectual theft & online piracy are the main issues that the market is currently facing.

IP services vary in each country. The laws and regulations require special expertise. People have to spend a lot of time on resources and navigate through the guidelines. This can become a significant challenge. Secondly, obtaining patents and trademarks is associated with a lot of costs. Companies need to hire individuals who have good working knowledge in these fields. Small and medium-sized companies can face obstacles in managing their finances. Thirdly, the whole process of obtaining the IP is very lengthy. Many times, it takes years to establish the rights due to all the frameworks that are associated with the product. Furthermore, a company's competitive market position may be jeopardized by insider threats and cyberattacks that lead to the unapproved disclosure of significant intellectual property assets. In addition, the sale of counterfeit items on e-commerce platforms and the online piracy of copyrighted media, such as software, music, and movies, devalue intellectual property and disrupt consumer confidence.

Intellectual Property (IP) Services Market Opportunities:

Digitalization has become a new trend. Digital rights management (DRM) technologies are crucial for preventing illegal copying, distribution, and usage of digital property, including music, movies, software, and e-books. DRM systems enforce licensing agreements and protect intellectual property assets with the use of digital watermarks, access controls, and encryption. A lot of companies are realizing the potential of DRM technologies and are offering these services. This aspect has helped in revenue generation. Computer vision and image recognition are other important fields. They help in the automated scanning of logos, images, and other designs. The generated scan searches for replication in the database. This helps businesses detect unauthorized use. Thirdly, companies have been expanding into international markets. IP service providers are upskilling themselves and tailoring the framework as per the needs of the country and industry. Personalized solutions have gained prominence. Cross-border enforcement is being prioritized to increase profits.

INTELLECTUAL PROPERTY (IP) SERVICES MARKET REPORT COVERAGE:

Intellectual Property (IP) Services Market Segmentation: By Type

• Patents

• Trade Marks

• Copyright

• Designs

• Others

Patents are both the largest and the fastest-growing type. For a certain period, the owner of an invention can legally prevent others from creating, using, or commercializing it by obtaining a patent. In return, the owner is required to disclose an invention that makes it possible. Inventors of novel, practical, non-obvious devices, methods, manufactured goods, or compositions of matter are entitled to patents. They provide the ability to set the selling price for the creation.  In addition to being a significant source of income for the company, patents may assist in locating investors to finance the creation and promotion of the idea.

Intellectual Property (IP) Services Market Segmentation: By Service Type

• IP Protection and Management

• IP Due Diligence

• IP Valuation

• IP Landscape

IP protection and management is both the largest and fastest-growing service type. This service involves the systematic handling of IP assets. The interests of consumers, individual creators, and broader economic progress all stem from IP protection. For products and services to be developed, distributed, and sold, intellectual property management is essential. IP management assists in safeguarding the company's information, lowering risks, boosting adherence to international law, managing competition, and developing a plan that complements the company's aims and objectives.

Intellectual Property (IP) Services Market Segmentation: By Organization Size

• Large-Scale Organization

• Small and medium-scale organizations

Large-scale organizations represent the largest group holding the highest market share in 2023. They have the necessary funding and support. These companies use advanced technologies for analyzing complicated data sets. They have the skilled expertise to have a thorough understanding of all the rules and regulations. Besides, they have international connections that facilitate a faster process. The fastest-growing organizations are small and medium-sized. These businesses work with bigger organizations by offering distinctive solutions. These firms are receiving assistance from the government in the form of grants, cash, and schemes. Besides, they offer affordable prices for their services, which makes them an attractive option. Furthermore, many startups are coming up with services and solutions for a specific type of industry. As such, the workforce has a good understanding of that field, making the process easier.

Intellectual Property (IP) Services Market Segmentation: By End-User

• Automobile

• BFSI

• IT and Telecom

• Healthcare

• Media and Entertainment

• Government

• Semiconductor

• Manufacturing

• Others

Because of its heavy reliance on innovation, technology, and intellectual property protection, the IT and telecom sector is the largest end-user of intellectual property services. There is a significant need for IP services, including patent drafting, portfolio management, licensing, and litigation assistance, since businesses in this industry consistently invest in R&D to spur innovation in software, hardware, telecommunications, and digital services. The IP services market within this industry is expanding as a result of emerging technologies, including artificial intelligence, cloud computing, 5G, the Internet of Things (IoT), and cybersecurity, that offer new IP opportunities. The healthcare industry is the fastest-growing. The healthcare sector is a significant user of intellectual property services, especially in domains like biotechnology, medical devices, pharmaceuticals, and healthcare information technology. The need for IP protection, licensing, and litigation support services is driven by the industry's emphasis on innovation, research, and development to solve global health concerns. The delivery of healthcare is being revolutionized by emerging technologies, including digital health solutions, gene editing, regenerative medicine, and precision medicine.

Intellectual Property (IP) Services Market Segmentation: Regional Analysis

• North America

• Asia-Pacific

• Europe

• South America

• Middle East and Africa

North America currently holds the largest market share in 2023. A large percentage of the world's innovation-driven businesses, tech startups, research institutes, and IP law firms are based in North America, especially the United States. As per Statista, in 2023, the United States ranked first with an overall score of 95.48 points for having the finest intellectual property environment. The area is home to a strong ecosystem that promotes the development, protection, and monetization of intellectual property across a range of sectors, including technology, healthcare, pharmaceuticals, automotive, aerospace, and entertainment. North America is the biggest market for IP services because of its high concentration of creative businesses, strict infringement laws, and supportive governmental framework. Asia-Pacific is the fastest-growing market. The Asia-Pacific area, which includes nations like China, Japan, India, South Korea, and Singapore, is experiencing rapid technical improvement, innovations, and economic expansion. The Asia-Pacific region's expanding middle class, urbanization, and rising disposable incomes fuel demand for goods and services, which in turn boosts intellectual property activity in industries including consumer goods, healthcare, automotive, and e-commerce.

COVID-19 Impact Analysis on the Global Intellectual Property (IP) Services Market:

The virus epidemic had a mixed effect on the market. Lockdowns, movement limitations, and social isolation were some of the new standards. Transportation, logistics, and supply chain management are all impacted by this. As a result, import-export operations deteriorated. A lot of courts were closed. Every company, including industrial facilities, had to close to contain the infection. Production and other operations were halted as a result. To stop the virus from spreading, remote work was given priority. Economic uncertainty existed. Many people were losing their jobs. This led to fewer innovations in niche industries. However, the healthcare industry saw an upsurge in IP services. The development of vaccines was emphasized. Copyrights, trademarks, and other patents were obtained for many medicines. E-commerce has become the new normal. People started to buy all their necessities through online channels. As per a report by AIPP, 277,500 applications were submitted through the PCT procedure, representing a 0.9% increase in applications. Companies had to protect their products to prevent infringement. Furthermore, with the rapid digital transformation, investments were made in cloud-based solutions and other software to connect virtually.   

Latest Trends/ Developments:

In the market for IP services, there is an increasing consciousness of and need for ethical and ecological practices. Companies are looking for IP service providers who promote green technology and ethical IP practices. A green patent, often referred to as an eco-friendly patent, is a kind of intellectual property protection that covers technology that lessens or enhances environmental effects. Reduction of emissions, energy conservation, better resource management, renewable energy, pollution control, and waste management are all areas where these patents might be helpful.

Key Players:

1. Clarivate Analytics

2. Dennemeyer Group

3. CPA Global

4. IPfolio

5. Anaqua

6. Questel

7. PatSnap

8. Minesoft

9. RWS Holdings plc

10. Dentons

• In December 2023, MEF launched its IP Services and API Portfolio. MEF is a global industry organization of network, cloud, security, and technology companies speeding up business digital transformation. With the help of this robust suite, suppliers of IP VPN, DIA, and broadband access may easily wholesale their products to retail service providers, enabling them to offer complete Network-as-a-Service (NaaS) solutions.

• In October 2023, WIPO IP Diagnostics: Indian Adaptation at the National IP Conference at Vigyan Bhawan, New Delhi, was launched. A free online tool called WIPO IP Diagnostics assists small enterprises in determining their intellectual property (IP) status. The World Intellectual Property Organization (WIPO) and the ICC Centre of Entrepreneurship (CoE) collaborated to create the tool. WIPO assists business owners with intellectual property regulations, and the CoE disseminates the tool among its members and incorporates it into workshops and training sessions.

• In January 2022, the Telangana government introduced IP Buddy, the nation's first intellectual property (IP) mascot, to assist interested parties with questions about IP.  It may assist researchers, students, startups, entrepreneurs, and other parties with IP-related concerns, including current services and registration procedures.