Patent Search Software

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Patent Search - Market Size

In order to fulfill the client's request, we defined the Patents Search software market in two different ways in order to establish multiple approaches to a market size valuation. Initially, we focused on IP Management Software, and given the information gathered, we used a present value calculator to estimate the market size of said market in 2018 to be approximately USD $2.32 billion. In our second approach, we defined the Enterprise IP Management Software as the market to evaluate, and by using a future value calculator we determined its market size in 2018 to be approximately USD $6.86 billion. The detailed methodology of our approach for each calculation can be found below.

Approach 1: IP Management Software market size — Present Value

For our first approach to calculating market size, we defined our scope as IP Management Software (IPMS), which includes patent search software and its market. The importance for this type of service continues to rise alongside the demand to protect intellectual property and keep track of patents within companies and for individuals. We found a list of key players within this market, which include Anaqua, Clarivate Analytics, Dennemeyer, Evalueserve Netherlands, among others. This market is expected to grow to reach USD $6,758.4 million by 2025, with an expected CAGR of 14.3%. Most of the market share will be retained by the North American region, which in 2017 reached a market share of USD $797.61 million.

With the information obtained from our initial sources, we used a present value calculator to obtain the current market size for IPMS. The inputs used in the calculator are as follows:

Future Value: 6,758.4 (expected size of IPMS market in 2025 in USD millions)
Years: 8 (2025 – 2018)
Discount Rate: 14.3 % (we assume the rate will remain stable throughout the evaluated period)
After inputting the required data, the calculator generated a present value of the IPMS market at the beginning of 2018 of USD $2,319.93 million, or USD $2.32 billion.

Approach 2: Enterprise IP Management Software market size — Future Value

Enterprise IP Management Software (or EIPMS) — which also takes into account the market for patent search software market — is a software system to facilitate corporations' tracking of patents, trademarks, copyrights and IP. It allows for a paperless, advanced IT-focused system of IP oversight. Some key players in this market include the following companies: Cardinal IP, CPA Global Limited, FlexTrac, Gridlogics. EIPMS market is expected to grow to USD $16.51 billion by 2024, from USD $4.12 billion in 2016. The EIPMS market is set to grow at a CAGR of +29% during the forecast period.

With the information obtained from our main sources, we then future value calculator to obtain the EIPMS market size in 2018. The inputs used in the calculator are the following:

Interest Rate per time period: 29% (we assume a stable CAGR rate throughout the evaluated period)
Number of Time periods: 2 (2018-2016)
Present value: 4.12 (billions of USD in 2016)

The calculation generates an approximate EIPSM market size at the beginning of 2018 of USD$6.86 billion


Software is used in relation to patent search in many ways, which allows for a plurality of scope definitions about relevant markets. Because of this, we dove into the evaluation of two possible markets and came up with significantly different valuations for them, yet equally valid.

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Patent Search - Market Share

This report looks at the market share of the top players in IP/Patent Search globally. The companies chosen are determined by a 2018 report that examines the IP market as a whole. It is critical to note that after exhaustive searches through company websites and other media presence that routinely report on revenues etc., such as Forbes, no detail of revenues for these companies is available in the public domain as it pertains to only the patent search market segment. As a result, the following market share is based on total revenues for the players in this market.

determining market share

Market share is a percentage of market size so, to find the market share for each company listed, their individual revenues are examined and are calculated based on the total market size.

The previous request covers market size in more detail, and for the purposes of calculation we are using the same figure ($6,758.4 million) To calculate market share, a total of revenues from the listed companies is used.

% Market Share = Annual Revenues / Market Size

patent search companies by market share

Revenue: $900.5 Million
Market Share: 38.81%

Revenue: $559.05 Million
Market Share: 24.09%

Revenue: $421.76 Million
Market Share: 18.17%

Revenue: $250 Million
Market Share: 10.77%

Revenue: $88.33 Million
Market Share: 3.8%

Revenue: $18.4 Million
Market Share: 0.79%

7. PatSnap
Revenue: $12 Million
Market Share: 0.51%

Revenue: $9 Million
Market Share: 0.38%

Revenue: $7 Million
Market Share: 0.30%

10. Minesoft
Revenue: $6.3 Million
Market Share: 0.27%

11. IPfolio
Revenue: $6 Million
Market Share: 0.25%

12. Aistemos
Revenue: $5 Million
Market Share: 0.21%

13. IP Street
Revenue: $3.8 Million
Market Share: 0.16%

14. VajraSoft
Revenue: $3.1 Million
Market Share: 0.13%

Revenue: $1 Million
Market Share: 0.043%

assumptions & triangulation

This report is based on independently collected financial data. As the majority of companies in the IP/Patent Search field are private, there is very little official data available from them. For these reasons, we have to look to independent business intelligence firms such as Hoovers & Owler. In many cases these revenue figures are estimates, collected from research & executive information. They are, however, effective as a comparative tool between companies.

For the largest companies on the list, they have many areas of business that contribute to the bottom line. The most granular data we can get here is for companies that specialize in IP/patent services.

The current market size figure ($2.32 billion) was based on the data given in this market size evaluation. All figures are in agreement with the previous request, and are calculated via a CAGR of 14.3%.

To find this, use a CAGR calculator with the following values:
Beginning Value: 2320
Ending Value: 6758.4
Number of Periods: 8
Result: 14.3% (in line with the report)


While the above data is based on some estimate figures, it shows a comparative market share landscape between the major players in the patent search/IP industry.

From Part 02