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LONDON, GREATER LONDON, UNITED KINGDOM, February 28, 2025 /EINPresswire.com/ -- The patent analytics market has experienced a tremendous growth spurt in recent years, with the market size ballooning from $1.07 billion in 2024 to an estimated $1.20 billion in 2025 at a compound annual growth rate CAGR of 12.5%. Multiple factors have driven this acceleration, including the increasing demand for advanced technologies, the integration of artificial intelligence AI and big data, a rise in the number of patent filings, research and development initiatives, and an increasing demand for professional intellectual property solutions.
What Is The Future Of The Patent Analytics Market?
The patent analytics market is expected to continue its rapid ascent in the years to come. It is projected to grow to $1.90 billion in 2029 at a compound annual growth rate CAGR of 12.2%. This growth can be chalked up to an upswing in patent filings and litigation, a shift towards digitalization across industries, and a rise in demand for customized services and research and development investments. Key major industry trends expected to propel this growth include the increasing adoption of AI-based patent analytics, a heightened focus on IP protection, the rising adoption of cloud computing, and technological advancements in information and communication. With the globe inching towards a more digitalized future, the patent analytics market is expected to soar even higher.
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What Drives The Growth Of The Patent Analytics Market?
Propelling the growth of the patent analytics market is the increasing number of patent filings. Patent filings refer to the application process to secure legal rights for an invention, granting the applicant exclusive ownership and protection for a specified period. Factors such as increased R&D investment, growing IP awareness and the activities of patent trolls are contributing to a higher number of patent filings. Patent analytics helps in identifying prior art, determining patentability, and crafting robust claims to fortify patent filing tactics. A prime example is the 2.7% growth worldwide in patent filings in 2023, reaching an estimated 3.6 million, according to the World Intellectual Property Organization WIPO.
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Which Players Are Dominating The Patent Analytics Market?
A host of major companies are making waves in the global patent analytics market, such as Clarivate Plc, LexisNexis, IP.com, Patsnap, Anaqua Inc., TechInsights Inc., QUESTEL SAS, Sagacious IP, MaxVal Group Inc., RPX Corporation, and others. These companies are contributing to the market's growth and shaping its future through their innovative solutions and services.
What New Trends Are Reshaping The Patent Analytics Market?
An emerging trend in the patent analytics industry involves companies rolling out advanced AI-powered patent search solutions to enhance decision-making in intellectual property management. For example, in December 2024, Clarivate Plc, a UK-based intelligence provider, launched AI Search in Derwent, which integrates AI with the Derwent World Patents Index DWPI to deliver more precise and relevant patent search outcomes.
Where Is The Patent Analytics Market Trending?
The patent analytics market is poised for a surge across the globe, with North America leading as the largest market region in 2024. However, expect the fastest growth from the Asia-Pacific region in the forecast period.
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