Featured in Outsell Analyst Report on IP Market Growth
Patent Information Market Continues to Grow
The latest World Intellectual Property Organization (WIPO) indicators report shows that in 2012 global patent filings increased at their strongest rate in nearly two decades.
The growth has mainly been driven by China. In 2011, it overtook the US as the country with the most patent applications, but in 2012 Chinese residents also accounted for the largest number of patents
filed throughout the world.
Legal information providers have become accustomed to relatively flat growth in recent years. So with strong and increasing patent filing growth rates — 7.6% in 2010, 8.1% in 2011, and 9.2% in 2012 — it’s not surprising that IP information providers have been active launching new products and pushing the value of patent information to adjacent professionals.
Most recently, Innography has released an update to its patent analytics software aimed primarily at non-legal professionals. Founded in 2007, Innography is a relatively new player to the legal information market. However, in that time it has managed to add adjacent markets to include marketing, finance, strategy, and product management professionals. The traditional market of researchers, scientists, and lawyers still make up the largest consumers of IP information, but Outsell expects this newer market is where most growth will come from in the coming years.
"Innography's flagship platform, Advanced Analysis, presents patent information in very visually accessible ways, including market maps, text clusters, histograms, and heat maps. It also correlates patent and trademark data with financial, litigation, and other key business information. This is ideal for professionals who need to know how IP fits into their corner of the business."