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South Korea Intellectual Property Market

Market Insights on South Korea Intellectual Property covering sales outlook, demand forecast & up-to-date key trends

South Korea Intellectual Property Market By Solution (IP Management Software, IP Search and Analysis Software, IP Services), End-user (Corporations, Government & Academic, Law Firms) & Region - Forecast 2022 - 2032

South Korea Intellectual Property Market Outlook (2022-2032)

[134 Pages Report] The South Korea intellectual property market revenue totaled US$ 790.6 Mn in 2021. Sales are projected to increase at an impressive 17.8% CAGR over the assessment period, with the market valuation reaching US$ 4,657.2 Mn by 2032.

South Korea Intellectual Property Market Value (2022)

US$ 906.9 Mn

South Korea Intellectual Property Market Projected Size (2032)

US$ 4,657.2 Mn

South Korea Intellectual Property Market Value-based CAGR (2022-2032)

17.8%

South Korea Intellectual Property Market Top 5 Vendor Market Share

More than 55%

The South Korea intellectual property (IP) market is anticipated to gain from rising adoption of cloud-based IP solutions along with growing demand for IP management software. South Korea holds the 5th position across the globe in terms of patent registrations. South Korea IP market accounts for nearly 12% of the global IP management market share.

There has been an uptick in demand for IP search analysis software and intellectual property management software in South Korea. The number of patents in ICT are increasing every year as they provide a competitive advantage, proving to be strategic assets for the company.

With digital advancements and the introduction new technologies, the possibility in producing and disseminating copies has also increased. This has resulted in growing cases of copyright violations, demanding the need of IPs. Driven by this, many companies are adopting patent management software solutions.

2017-2021 South Korea Intellectual Property Demand Outlook Compared to 2022-2032 Forecast

Sales are projected to increase at a 17.8% CAGR between 2022 and 2032, in comparison with 7.8% CAGR registered during 2017-2021. Companies in South Korea are implementing new editions of IP solutions into their current offerings with a wide range of new features and capabilities.

Rapid globalization, innovation, fragmentation of production value chains, and the emergence of new players are some factors expected to drive sales of IP solutions and software. IP systems are undergoing continuous changes as they seek to optimize the balance between private and social benefits to contribute to economic growth and the welfare of societies.

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How is Growing Digital Transformation Boosting Sales in the South Korea IP Market?

Intellectual property rights allow creators to patent, trademark, or copyright their works to avoid stealing, mishandling and to benefit from their creation and innovation. Cloud-based IP are in high demand as they support and protect IP assets across various industries remotely. Since the cloud offers excellent flexibility and value over a locally installed intellectual property management systems, sales are anticipated to increase in the forthcoming years.

Currently, designers, inventors, authors, and developers are adopting IP rights such as patents and trademarks to safeguard their creations. In addition to this, regulations imposed by the government to control the unauthorized usage of IP assets will augment the growth in the market.

Local Government Initiatives Likely to Create Strong Opportunities for Growth

The local government plays a critical role in policy making and regulations in South Korea. In recent years, the Korean Intellectual Property Office (KIPO) has expanded the role of the Special Investigation Police (SIP) within KIPO (which was originally established to investigate trademark infringement and counterfeiting) to include investigations of patent infringement and the enforcement of patent rights.

The government of South Korea is planning to evolve in tandem with the changing landscape of the intellectual property sector. Moreover, investments in research and development by the government and various firms is propelling the number of patents to be issues, which is expected to boost sales in the market.

Nikhil Kaitwade
Principal Consultant
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Category-wise Insights

Why is the Demand for Intellectual Property (IP) Management Software Increasing?

“Brands and Companies are Investing in Logo Copyright Registration”

Based on solutions, demand in the intellectual property management software segment is expected to grow at a CAGR of 15.1%, accounting for a dominant share in the market.

Formal intangible assets such as technology, designs and brands are important to get appropriate returns for innovation and investments. These intangible assets are protected by formal intellectual property (IP) rights such as patents, utility models, industrial designs, trademarks, copyrights, and trade secrets. Owing to this, demand for IP management software across various end users is surging, thereby driving the market growth.

Why are Sales of Intellectual Property in Law Firms Rising?

“Surging Demand for Copyright Services in Law Firms Will Drive Sales”

In terms of end user, sales in the law firms segment are projected to increase at a stupendous CAGR of 19.4% over the forecast period. The segment is expected to grow 5.9X, creating an absolute opportunity of US$ 2,061.2 Mn.

Growing popularity of IP management software will continue driving sales in this segment. For instance, In July 2021, Clarivate launched research and protection solutions powered by CompuMark into Ipfolio, and FoundationIP, IP management software (IPMS) solutions. These solutions are being adopted in corporations and law firms. Such developments are anticipated to bode well for the growth in the market.

Competitive Landscape

Major companies operating in the South Korea intellectual property market include Clarivate, Dennemeyer, Patrix, LexisNexis Korea (Legal), Questel Korea, PI IP LAW, KASAN, SU INTELLECTUAL PROPERTY Co. Ltd., WIPS Co. Ltd, SIWONIP, Kim & Chang, Lee & Ko, and FirstLaw PC, among others.

Companies are emphasizing on innovations and expanding their global footprint through acquisitions and partnerships. For instance:

  • In November 2020, Patrix announced a partnership with Black Hills. This partnership provides customers tools that helps to automate IP operations. It also provides prosecution and patent analytics on their portfolios.
  • In January 2018, Dennemeyer & Associates opened IP law firm in Paris. This expansion was set up in collaboration with Frédéric Blanc and offers cutting edge intellectual property related legal services.
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Scope of Report

Attribute

Details

Forecast Period

2022-2032

Historical Data Available for

2017-2021

Market Analysis

US$ Million for Value

Key Countries Covered

South Korea

Key Segments Covered

Solution and End-user

Key Companies Profiled

Report Coverage

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Customization & Pricing

Available upon Request

South Korea Intellectual Property Outlook by Category

By Solution:

  • Intellectual Property (IP) Management Software
    • Cloud-based
    • On-Premises
  • IP Search and Analysis Software (Web-based)
  • Intellectual Property Services
    • IP Consulting and Analytics
    • Law Firm Services
    • IP Maintenance
    • Others

By End-user:

  • Corporations
  • Government & Academic
  • Law Firms
  • Others

Frequently Asked Questions

Some of the leading companies include Lee & Ko, Kim & Chang, LexisNexis Korea, Clarivate, and Questel Korea. As per FMI, these companies are forecast to account for more than 57% of the total market share.

The intellectual property (IP) management software segment is expected to hold the largest share of the market in 2022.

The South Korea intellectual property industry was valued at US$ 790.6 Mn in 2021, and is estimated to grow at an exceptional pace with a CAGR of 17.8% to reach US$ 4,657.2 Mn in 2032.

The South Korea intellectual property market grew at a 7.8% CAGR between 2017 to 2021.

Rising adoption of IP for economic development, along with increasing demand for cloud-based intellectual property solutions will drive the market over the forecast period.

Table of Content

1. Executive Summary

    1.1. South Korea Intellectual Property (IP) Solution Market Outlook

    1.2. Market Taxonomy/Definition

    1.3. FMI Recommendation & Insights 

2. PESTLE Analysis 

    2.1. Political Factors Impact Analysis 

    2.2. Economic Factors Impact Analysis

    2.3. Social Factors Impact Analysis

    2.4. Technological Factors Impact Analysis

    2.5. Environmental Factors Impact Analysis

    2.6. Legal Factors Impact Analysis 

3. Value Chain

    3.1. Research & Development and GTM

    3.2. IP Protection: Legal Protection and Licensing 

    3.3. IP Management 

    3.4. IP Commercialization

4. Market Dynamics

    4.1. Key Market Drivers

    4.2. Major Restraints 

    4.3. Future Opportunities

    4.4. Key Trends across Practices

        4.4.1. Patents

        4.4.2. Designs

        4.4.3. Trademarks

        4.4.4. Copyrights

5. South Korea Intellectual Property Market Demand Analysis 2017-2021 and Forecast, 2022-2032

    5.1. Historical Market Size (US$ Mn) Analysis, 2017-2021

    5.2. Current and Future Market Size (US$ Mn) Projections, 2022-2032

        5.2.1. Y-o-Y Growth Trend Analysis

        5.2.2. Absolute $ Opportunity Analysis

6. South Korea Intellectual Property Market Analysis 2017-2021 and Forecast 2022-2032, by Solution

    6.1. Introduction / Key Findings

    6.2. Historical Market Size (US$ Mn) Analysis By Solution, 2017 - 2021

    6.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Solution, 2022 - 2032

        6.3.1. Intellectual Property (IP) Management Software

            6.3.1.1. Cloud-based

            6.3.1.2. On-Premises

        6.3.2. IP Search and Analysis Software

        6.3.3. Intellectual Property Services

            6.3.3.1. IP Consulting and Analytics

            6.3.3.2. Law Firm Services

            6.3.3.3. IP Maintenance

            6.3.3.4. Others 

7. South Korea Intellectual Property Market Analysis 2017-2021 and Forecast 2022-2032, by End user

    7.1. Introduction / Key Findings

    7.2. Historical Market Size (US$ Mn) Analysis By Type, 2017 - 2021

    7.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Type, 2022 - 2032

        7.3.1. Corporations

        7.3.2. Government & Academic 

        7.3.3. Law Firms

        7.3.4. Others 

    7.4. Market Attractiveness Analysis By Type

8. Competition Analysis

    8.1. Market Share Analysis of Major IP Solution Vendors in South Korea 

    8.2. Competition Dashboard of Major Vendors 

    8.3. Competition Deep-dive Analysis 

        8.3.1. Dennemeyer 

            8.3.1.1. Overview

            8.3.1.2. Solution Portfolio

            8.3.1.3. Key Financials

            8.3.1.4. Strategy Overview

        8.3.2. Patrix 

            8.3.2.1. Overview

            8.3.2.2. Solution Portfolio

            8.3.2.3. Key Financials

            8.3.2.4. Strategy Overview

        8.3.3. Clarivate 

            8.3.3.1. Overview

            8.3.3.2. Solution Portfolio

            8.3.3.3. Key Financials

            8.3.3.4. Strategy Overview

        8.3.4. LexisNexis Korea 

            8.3.4.1. Overview

            8.3.4.2. Solution Portfolio

            8.3.4.3. Key Financials

            8.3.4.4. Strategy Overview

        8.3.5. Questel Korea

            8.3.5.1. Overview

            8.3.5.2. Solution Portfolio

            8.3.5.3. Key Financials

            8.3.5.4. Strategy Overview

        8.3.6. PI IP LAW

            8.3.6.1. Overview

            8.3.6.2. Solution Portfolio

            8.3.6.3. Key Financials

            8.3.6.4. Strategy Overview

        8.3.7. KASAN 

            8.3.7.1. Overview

            8.3.7.2. Solution Portfolio

            8.3.7.3. Key Financials

            8.3.7.4. Strategy Overview

        8.3.8. SU INTELLECTUAL PROPERTY Co. Ltd.

            8.3.8.1. Overview

            8.3.8.2. Solution Portfolio

            8.3.8.3. Key Financials

            8.3.8.4. Strategy Overview

        8.3.9. WIPS Co. Ltd

            8.3.9.1. Overview

            8.3.9.2. Solution Portfolio

            8.3.9.3. Key Financials

            8.3.9.4. Strategy Overview

        8.3.10. SIWONIP

            8.3.10.1. Overview

            8.3.10.2. Solution Portfolio

            8.3.10.3. Key Financials

            8.3.10.4. Strategy Overview

        8.3.11. Kim & Chang

            8.3.11.1. Overview

            8.3.11.2. Solution Portfolio

            8.3.11.3. Key Financials

            8.3.11.4. Strategy Overview

        8.3.12. Lee & Ko

            8.3.12.1. Overview

            8.3.12.2. Solution Portfolio

            8.3.12.3. Key Financials

            8.3.12.4. Strategy Overview

        8.3.13. FirstLaw PC

            8.3.13.1. Overview

            8.3.13.2. Solution Portfolio

            8.3.13.3. Key Financials

            8.3.13.4. Strategy Overview

9. Assumptions and Acronyms Used

10. Research Methodology

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List of Tables

Table 01: South Korea Intellectual Property Market Value (US$ Mn) Analysis (2017 – 2021) by Solution

Table 02: South Korea Intellectual Property Market Value (US$ Mn) Forecast (2022 – 2032) by Solution

Table 03: South Korea Intellectual Property Market Value (US$ Mn) Analysis (2017 – 2021) by End-user

Table 04: South Korea Intellectual Property Market Value (US$ Mn) Forecast (2022 – 2032) by End-user

Nikhil Kaitwade
Principal Consultant
LinkedIn
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List of Charts

Figure 01: South Korea Intellectual Property Market Size (US$ Mn) and Y-o-Y Growth Rate from 2022-2032

Figure 02: South Korea Intellectual Property Market Size and Y-o-Y Growth Rate from 2022-2032

Figure 03: South Korea Intellectual Property Market: Market Share Analysis by Solution – 2022 & 2032

Figure 04: South Korea Intellectual Property Market: Y-o-Y Growth Comparison by Solution, 2022-2032

Figure 05: South Korea Intellectual Property Market: Market Attractiveness by Solution

Figure 06: South Korea Intellectual Property Market: Market Share Analysis, By End-user - 2022 & 2032

Figure 07: South Korea Intellectual Property Market Size and Y-o-Y Growth Rate from 2022-2032, By End-user

Figure 08: South Korea Intellectual Property Market: Market Attractiveness by End-user

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