Patent and Trademark Renewal Services Market to Grow at a CAGR of 10.8% during 2021-2028

Market Size – USD     4,578.1 million in 2020, Market Growth – at a CAGR of 19.1%, Market Trends –digitalization of major patent and trademark authorities, and acquisitions & mergers empower the market

The global patent and trademark renewal services market has registered US$ 4,578.1 million in 2020, and projected to reach at US$   10,158.1 million by 2028, according to recent study done by Eternity Insights. Patent Renewals According to OECD, companies related to electric engineering technologies account for nearly half of the overall patent families in the world. Companies related to mechanical engineering technologies account for one-fifth of the overall patent families in the world. Trademark helps companies to create a unique identity and create business opportunities. A registered trademark provides the benefit of exclusiveness. Patent and trademark renewal helps in maintaining legal safeguards against infringement by competitors.

The technological advancements in many industrial sectors are in a fast pace. The time required to take a product or service to the market is shrinking. Startups are the real disruptors in innovation in many sectors. They get the first mover advantage when they develop new technologies or applications.  Many businesses need new type of software solutions to digitally transform their business and make their organizations transparent and efficient. Deploying applications without patent can lead to competitors making use of loopholes to come up with similar products or services.

Automation is reshaping the IT industries with automation taking over testing and coding. Many employees are upskilled to take new roles related to new technologies. It is improving the productivity. Patent and trademark renewal service providers help automation companies to renew their important automation patents on time and help them to expand their business globally.

Key Highlights

• Some of the prominent companies involved in global patent and trademark renewal services market CPA Global, Anaqua, IP Pragmatics, Dennemeyer Group, IP Centrum Limited, Questel, MaxVal Group Inc, Acumass, and Spruson & Ferguson.
• The digitalization of WIPO, USPTO and other major national patent and trademark authorities have simplified the process of patents and trademarking. WIPO Patentscope provide users access to vast amounts of data. WIPO acknowledges that the technologies that are creating fourth industrial revolution are highly intensive in their use of intellectual property.
• In February 2021, Anaqua acquires Quantify IP, a global IP cost estimating software provider. This deal is meant for enhancing Anaqua’s strategic line of IP management solutions.
• In March 2021, MaxVal Group expands its presence in Europe. The increasing demand for its IP Management Solution, Symphony in Europe is a major factor for their expansion.
• In August 2021, Questel announced the successful completion of acquisitions of PAVIS, Novograaf and Brandstock. Pavis is a leading provider of IP management services. Novagraaf is a leading IP consulting group in Europe. Brandstock is a leading provider of Intellectual Property Services in Europe.

To get leading market solutions, visit the link below: https://www.eternityinsights.com/report/patent-and-trademark-renewals-services-market

Market Segmentation

• Type Outlook (Revenue, US$ Million; 2017–2027

  • Patent Renewal
  • Trademark Renewal
  • Standalone

• Application Outlook (Revenue, US$ Million; 2017–2027)

  • Corporate
  • Research Institute
  • University
  • Others

• Region Outlook (Revenue, US$ Million; 2017–2027)

  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of MEA
  • Latin America
    • Brazil
    • Rest of Latin America