The global market for intellectual property rights and royalties management expected to reach $16.1 billion in 2026
By 2026, the global market for intellectual property rights and royalties management is expected to reach $16.1 billion. The legal rights in an existing intellectual property work allocated to a corporate entity or individual are referred to as intellectual property rights.
Due to the risk of problems developing at the time of mergers, acquisitions, partnerships, and contracts, major commercial organizations have been concerned about registering and protecting intellectual property. Software solutions for intellectual property rights and royalties management aid businesses in increasing income, capitalizing on and protecting their intellectual property, and effectively managing risks.
The growing need to protect intellectual property assets against counterfeiting or piracy, as well as the increasing requirement to commercialize the assets, are expected to bolster growth in the global market. Furthermore, the market is likely to be boosted by various businesses’ shifts from on-premise to cloud-based deployments, as well as customers’ ongoing desire to upgrade their intellectual property rights and royalty solutions. Furthermore, growing usage by educational institutions and government organizations will accelerate market expansion.
The introduction of digital education and sophisticated technology-based e-learning services by educational institutions is credited with the quick acceptance by educational institutions. In the market for intellectual property rights and royalties management, the media and entertainment industry earns the most money.
In the context of COVID-19, the worldwide market for Intellectual Property Rights and Royalty Management, which was anticipated to be worth US$8.2 billion in 2020, is expected to increase to US$16.1 billion by 2026, with a CAGR of 12.2% during the analyzed period. One of the sectors examined in the study, Media & Entertainment, is expected to increase at a 14.6 percent CAGR to reach US$4.9 billion by the end of the analysis period.
The market in the United States is expected to reach $2.5 billion in 2021, while China is expected to reach $2.1 billion by 2026
The market for Intellectual Property Rights and Royalty Management in the United States is expected to reach US$2.5 billion by 2021. The country presently holds 28.2 percent of the worldwide market share. China, the world’s second biggest economy, is expected to reach a market size of US$2.1 billion in 2026, representing a CAGR of 15.4 percent over the study period. Japan and Canada are two additional significant geographic markets, with forecasted growth rates of 10.4 percent and 11.8 percent, respectively, throughout the analyzed period.
Within Europe, Germany is expected to expand at an 11.9 percent compound annual growth rate (CAGR), while the rest of the European market (as defined in the study) would reach US$2.4 billion by the conclusion of the analysis period. North America has the majority of market share, thanks to technical developments and growing use across a variety of industries, including IT, telecom, life sciences, and healthcare, with the goal of preserving their assets and inventions. Increased use of intellectual property rights and royalty management systems in countries like as India, Japan, and China is driving growth in the Asia-Pacific region.
The 10.6 percent CAGR prediction for the worldwide IT & Telecom industry is driven by the United States, Canada, Japan, China, and Europe. By the end of the analysis period, these regional markets, which in 2020 had a combined market value of US$1 billion, will have grown to US$2.1 billion. In this group of regional markets, China will continue to be the fastest rising. The Asia-Pacific market is expected to grow to US$271.9 million by 2026, led by nations like Australia, India, and South Korea.
