Patent analytics is a field of study that uses data mining and statistical techniques to extract information from patent documents. The goal of patent analytics is to provide insights that can help businesses make better decisions about their patent portfolios. Patent analytics can be used to answer a variety of questions, such as which technologies are being patented most frequently, which companies are filing the most patents, and which countries are issuing the most patents.
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Key Trends
There are three key trends in patent analytics technology: data visualization, machine learning, and artificial intelligence.
Data visualization is becoming increasingly important in patent analytics as the volume of data continues to grow. Machine learning and artificial intelligence are also becoming more important as they can help to identify patterns and trends in data more quickly and accurately than humans can.
Key Drivers
Patent analytics is the process of extracting actionable insights from patent data. It helps organizations in the life sciences sector to make better R&D decisions, assess market opportunities, and make informed business decisions.
Some of the key drivers of the patent analytics market are the growing need for competitive intelligence, the increasing R&D expenditure, the growing number of patent filings, and the increasing adoption of patent analytics by small and medium enterprises.
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The competitive intelligence provided by patent analytics helps organizations to understand the competitive landscape and make better R&D decisions. The increasing R&D expenditure is driving the growth of the patent analytics market as organizations are looking for ways to optimize their R&D expenditure.
Market Segments
The Patent Analytics Market is segmented by component, services, enterprise size and region. By component, the market is divided into solution and services. Based on services, it is bifurcated into patent landscapes/white space analysis, patent strategy and management and patent valuation. On the basis of enterprise size, it is classified into large enterprises and small & medium enterprises. Region-wise, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.
Key Players
The Patent Analytics Market includes players such as Anaqua Inc., Clarivate Analytics, Harrity & Harrity LLP, IDTechEx Ltd, IP Wagon Pvt. Ltd., Ocean Tomo LLC, PatentSight GmbH, Wynne-Jones IP Limited, Excelon IP and Intricate Research.
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