Intellectual property refers to creations of the mind such as inventions, literary and artistic works, designs, and symbols, names and images used in commerce. Intellectual property software helps organizations to manage their intellectual property by providing features for application development and maintenance, portfolio management and analytics. Growing importance of intellectual property protection and management across industries boosts adoption of these software. With technological advancements and digital transformation initiatives of enterprises, the can witness growth in the near future.
Market Dynamics:
Global intellectual property software market growth is driven by increasing importance provided to intellectual property protection by organizations. Growing number of patent filings and emergence of new tools for analytics and can boost adoption of intellectual property software. However, high integration and maintenance costs of these software can hamper the market growth. Switching to cloud-based solutions and availability of customized offerings can present lucrative growth opportunities. Advancements in artificial intelligence and its increasing use in automating IP processes can also drive the market growth. Data security risks and lack of technical expertise in some organizations can hamper the market growth.
Key features of the study:
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
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