The South Korea intellectual property market is capturing a valuation of USD 1 billion in 2023 and is predicted to reach USD 5.2 billion by 2033. The market is registering a CAGR of 17.4% during the forecast period.
The South Korea intellectual property (IP) market is anticipated to gain from the rising adoption of cloud-based IP solutions and the growing demand for IP management software. South Korea holds the 5th position across the globe in terms of patent registrations. South Korea Intellectual Property market accounts for nearly 12% of the global IP management market share.
There has been an uptick in demand for IP search analysis and intellectual property management software in South Korea. Surging patents in ICT are increasing as they provide a competitive advantage, proving to be strategic assets for the company.
With digital advancements and the introduction of new technologies, the possibility of producing and disseminating copies has also increased. It has resulted in growing cases of copyright violations, demanding the need for IPs. Driven by this, many companies are adopting patent management software solutions.
The government of South Korea initiated various policies and plans to enhance the performance of Intellectual Property in the nation. They are establishing institutes, including Korea Intellectual Property Office, to strengthen IP rights. The government plays a crucial role in maintaining a favorable environment for intellectual property transactions.
The increasing legal frameworks and growing awareness to protect intellectual property rights. Moreover, huge investments and international intellectual property fuel the South Korean market.
Intellectual property rights allow creators to patent, trademark, or copyright their works to avoid mishandling and to benefit from their creation and innovation. Cloud-based IPs are in high demand as they support and remotely protect IP assets across various industries. Since the cloud offers excellent flexibility and value over locally installed intellectual property management systems. These sales are anticipated to increase in the forthcoming years.
Designers, inventors, authors, and developers are adopting IP rights such as patents and trademarks to safeguard their creations. In addition, regulations imposed by the government to control the unauthorized usage of IP assets are estimated to augment the growth in the market.
The local government plays a critical role in policy-making and regulations in South Korea. In recent years, the Korea Intellectual Property Office (KIPO) has expanded the role of the Special Investigation Police (SIP) within KIPO.
It was originally established to investigate trademark infringement and counterfeiting including 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 are propelling several patents to be issued, boosting sales in the market.
Attributes | Details |
---|---|
Market CAGR (2023 to 2033) | 17.4% |
Market Valuation (2023) | USD 1 billion |
Market Valuation (2033) | USD 5.2 billion |
Sales are projected to increase at a 17.4% CAGR between 2023 and 2033, compared with the 7.8% CAGR registered from 2018 to 2022. 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.
The market was valued at USD 621.0 million in 2018 and is anticipated to capture a valuation of USD 906.9 million in 2022.
Brands and Companies are Investing in Logo Copyright Registration
Based on solutions, demand in the intellectual property management software segment is expected to secure a share of 47.7%, accounting for a dominant market share.
Formal intangible assets such as technology, designs, and brands are important for 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 market growth.
Surging Demand for Copyright Services in Law Firms is estimated to Drive Sales
Regarding end users, sales in the law firms segment are projected to secure a share of 28.3% over the forecast period. The segment is expected to grow 5.9X, creating an absolute opportunity of USD 2,061.2 million.
The growing popularity of IP management software is estimated to 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 of the market.
South Korea is one of the significant countries leading the intellectual property field to innovate and protect. South Korea's government takes several measures to strengthen the laws and enforcement for businesses and inventors.
The country ranks high internationally for IP indices, including the United States Chamber of Commerce's Global IP Index and the Global Innovation Index. The growing technological and electronics in IP enforcing rights and laws are fueling the market in the country. South Korea is enhancing its portfolio in licensing agreements with numerous IP disputes.
The growing awareness, promotion, and education of intellectual property drive the South Korea market. Increasing research and development activities, supporting small businesses, startups, and collaborations with research institutions are expanding the market in the country. These factors are performing in the South Korea intellectual property market during the forecast period.
Manufacturers can expand the South Korea market through various steps as follows:
These are a few of the steps on which manufacturers can expand the South Korea market during the forecast period.
Key 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 innovations and expanding their global footprint through acquisitions and partnerships.
The market is highly competitive by these key players. These key players are innovating better and unique products to stay ahead of the competition. The key players are adopting several marketing tactics to upsurge the global market to another level.
Recent Developments in the South Korea Intellectual Property Market are:
Attribute | Details |
---|---|
Forecast Period | 2023 to 2033 |
Historical Data Available for | 2018 to 2022 |
Market Analysis | USD billion for Value |
Key Countries Covered | United States, United Kingdom, Japan, India, China, Australia, Germany |
Key Segments Covered |
Solution, End User, Region |
Key Companies Profiled |
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; FirstLaw PC |
Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
Customization & Pricing | Available upon Request |
Table 1: Global Market Value (US$ Million) Forecast by Region, 2018 to 2033
Table 2: Global Market Value (US$ Million) Forecast by Solution, 2018 to 2033
Table 3: Global Market Value (US$ Million) Forecast by End-user, 2018 to 2033
Table 4: North America Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 5: North America Market Value (US$ Million) Forecast by Solution, 2018 to 2033
Table 6: North America Market Value (US$ Million) Forecast by End-user, 2018 to 2033
Table 7: Latin America Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 8: Latin America Market Value (US$ Million) Forecast by Solution, 2018 to 2033
Table 9: Latin America Market Value (US$ Million) Forecast by End-user, 2018 to 2033
Table 10: Europe Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 11: Europe Market Value (US$ Million) Forecast by Solution, 2018 to 2033
Table 12: Europe Market Value (US$ Million) Forecast by End-user, 2018 to 2033
Table 13: South Asia Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 14: South Asia Market Value (US$ Million) Forecast by Solution, 2018 to 2033
Table 15: South Asia Market Value (US$ Million) Forecast by End-user, 2018 to 2033
Table 16: East Asia Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 17: East Asia Market Value (US$ Million) Forecast by Solution, 2018 to 2033
Table 18: East Asia Market Value (US$ Million) Forecast by End-user, 2018 to 2033
Table 19: Oceania Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 20: Oceania Market Value (US$ Million) Forecast by Solution, 2018 to 2033
Table 21: Oceania Market Value (US$ Million) Forecast by End-user, 2018 to 2033
Table 22: MEA Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 23: MEA Market Value (US$ Million) Forecast by Solution, 2018 to 2033
Table 24: MEA Market Value (US$ Million) Forecast by End-user, 2018 to 2033
Figure 1: Global Market Value (US$ Million) by Solution, 2023 to 2033
Figure 2: Global Market Value (US$ Million) by End-user, 2023 to 2033
Figure 3: Global Market Value (US$ Million) by Region, 2023 to 2033
Figure 4: Global Market Value (US$ Million) Analysis by Region, 2018 to 2033
Figure 5: Global Market Value Share (%) and BPS Analysis by Region, 2023 to 2033
Figure 6: Global Market Y-o-Y Growth (%) Projections by Region, 2023 to 2033
Figure 7: Global Market Value (US$ Million) Analysis by Solution, 2018 to 2033
Figure 8: Global Market Value Share (%) and BPS Analysis by Solution, 2023 to 2033
Figure 9: Global Market Y-o-Y Growth (%) Projections by Solution, 2023 to 2033
Figure 10: Global Market Value (US$ Million) Analysis by End-user, 2018 to 2033
Figure 11: Global Market Value Share (%) and BPS Analysis by End-user, 2023 to 2033
Figure 12: Global Market Y-o-Y Growth (%) Projections by End-user, 2023 to 2033
Figure 13: Global Market Attractiveness by Solution, 2023 to 2033
Figure 14: Global Market Attractiveness by End-user, 2023 to 2033
Figure 15: Global Market Attractiveness by Region, 2023 to 2033
Figure 16: North America Market Value (US$ Million) by Solution, 2023 to 2033
Figure 17: North America Market Value (US$ Million) by End-user, 2023 to 2033
Figure 18: North America Market Value (US$ Million) by Country, 2023 to 2033
Figure 19: North America Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 20: North America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 21: North America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 22: North America Market Value (US$ Million) Analysis by Solution, 2018 to 2033
Figure 23: North America Market Value Share (%) and BPS Analysis by Solution, 2023 to 2033
Figure 24: North America Market Y-o-Y Growth (%) Projections by Solution, 2023 to 2033
Figure 25: North America Market Value (US$ Million) Analysis by End-user, 2018 to 2033
Figure 26: North America Market Value Share (%) and BPS Analysis by End-user, 2023 to 2033
Figure 27: North America Market Y-o-Y Growth (%) Projections by End-user, 2023 to 2033
Figure 28: North America Market Attractiveness by Solution, 2023 to 2033
Figure 29: North America Market Attractiveness by End-user, 2023 to 2033
Figure 30: North America Market Attractiveness by Country, 2023 to 2033
Figure 31: Latin America Market Value (US$ Million) by Solution, 2023 to 2033
Figure 32: Latin America Market Value (US$ Million) by End-user, 2023 to 2033
Figure 33: Latin America Market Value (US$ Million) by Country, 2023 to 2033
Figure 34: Latin America Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 35: Latin America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 36: Latin America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 37: Latin America Market Value (US$ Million) Analysis by Solution, 2018 to 2033
Figure 38: Latin America Market Value Share (%) and BPS Analysis by Solution, 2023 to 2033
Figure 39: Latin America Market Y-o-Y Growth (%) Projections by Solution, 2023 to 2033
Figure 40: Latin America Market Value (US$ Million) Analysis by End-user, 2018 to 2033
Figure 41: Latin America Market Value Share (%) and BPS Analysis by End-user, 2023 to 2033
Figure 42: Latin America Market Y-o-Y Growth (%) Projections by End-user, 2023 to 2033
Figure 43: Latin America Market Attractiveness by Solution, 2023 to 2033
Figure 44: Latin America Market Attractiveness by End-user, 2023 to 2033
Figure 45: Latin America Market Attractiveness by Country, 2023 to 2033
Figure 46: Europe Market Value (US$ Million) by Solution, 2023 to 2033
Figure 47: Europe Market Value (US$ Million) by End-user, 2023 to 2033
Figure 48: Europe Market Value (US$ Million) by Country, 2023 to 2033
Figure 49: Europe Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 50: Europe Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 51: Europe Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 52: Europe Market Value (US$ Million) Analysis by Solution, 2018 to 2033
Figure 53: Europe Market Value Share (%) and BPS Analysis by Solution, 2023 to 2033
Figure 54: Europe Market Y-o-Y Growth (%) Projections by Solution, 2023 to 2033
Figure 55: Europe Market Value (US$ Million) Analysis by End-user, 2018 to 2033
Figure 56: Europe Market Value Share (%) and BPS Analysis by End-user, 2023 to 2033
Figure 57: Europe Market Y-o-Y Growth (%) Projections by End-user, 2023 to 2033
Figure 58: Europe Market Attractiveness by Solution, 2023 to 2033
Figure 59: Europe Market Attractiveness by End-user, 2023 to 2033
Figure 60: Europe Market Attractiveness by Country, 2023 to 2033
Figure 61: South Asia Market Value (US$ Million) by Solution, 2023 to 2033
Figure 62: South Asia Market Value (US$ Million) by End-user, 2023 to 2033
Figure 63: South Asia Market Value (US$ Million) by Country, 2023 to 2033
Figure 64: South Asia Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 65: South Asia Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 66: South Asia Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 67: South Asia Market Value (US$ Million) Analysis by Solution, 2018 to 2033
Figure 68: South Asia Market Value Share (%) and BPS Analysis by Solution, 2023 to 2033
Figure 69: South Asia Market Y-o-Y Growth (%) Projections by Solution, 2023 to 2033
Figure 70: South Asia Market Value (US$ Million) Analysis by End-user, 2018 to 2033
Figure 71: South Asia Market Value Share (%) and BPS Analysis by End-user, 2023 to 2033
Figure 72: South Asia Market Y-o-Y Growth (%) Projections by End-user, 2023 to 2033
Figure 73: South Asia Market Attractiveness by Solution, 2023 to 2033
Figure 74: South Asia Market Attractiveness by End-user, 2023 to 2033
Figure 75: South Asia Market Attractiveness by Country, 2023 to 2033
Figure 76: East Asia Market Value (US$ Million) by Solution, 2023 to 2033
Figure 77: East Asia Market Value (US$ Million) by End-user, 2023 to 2033
Figure 78: East Asia Market Value (US$ Million) by Country, 2023 to 2033
Figure 79: East Asia Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 80: East Asia Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 81: East Asia Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 82: East Asia Market Value (US$ Million) Analysis by Solution, 2018 to 2033
Figure 83: East Asia Market Value Share (%) and BPS Analysis by Solution, 2023 to 2033
Figure 84: East Asia Market Y-o-Y Growth (%) Projections by Solution, 2023 to 2033
Figure 85: East Asia Market Value (US$ Million) Analysis by End-user, 2018 to 2033
Figure 86: East Asia Market Value Share (%) and BPS Analysis by End-user, 2023 to 2033
Figure 87: East Asia Market Y-o-Y Growth (%) Projections by End-user, 2023 to 2033
Figure 88: East Asia Market Attractiveness by Solution, 2023 to 2033
Figure 89: East Asia Market Attractiveness by End-user, 2023 to 2033
Figure 90: East Asia Market Attractiveness by Country, 2023 to 2033
Figure 91: Oceania Market Value (US$ Million) by Solution, 2023 to 2033
Figure 92: Oceania Market Value (US$ Million) by End-user, 2023 to 2033
Figure 93: Oceania Market Value (US$ Million) by Country, 2023 to 2033
Figure 94: Oceania Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 95: Oceania Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 96: Oceania Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 97: Oceania Market Value (US$ Million) Analysis by Solution, 2018 to 2033
Figure 98: Oceania Market Value Share (%) and BPS Analysis by Solution, 2023 to 2033
Figure 99: Oceania Market Y-o-Y Growth (%) Projections by Solution, 2023 to 2033
Figure 100: Oceania Market Value (US$ Million) Analysis by End-user, 2018 to 2033
Figure 101: Oceania Market Value Share (%) and BPS Analysis by End-user, 2023 to 2033
Figure 102: Oceania Market Y-o-Y Growth (%) Projections by End-user, 2023 to 2033
Figure 103: Oceania Market Attractiveness by Solution, 2023 to 2033
Figure 104: Oceania Market Attractiveness by End-user, 2023 to 2033
Figure 105: Oceania Market Attractiveness by Country, 2023 to 2033
Figure 106: MEA Market Value (US$ Million) by Solution, 2023 to 2033
Figure 107: MEA Market Value (US$ Million) by End-user, 2023 to 2033
Figure 108: MEA Market Value (US$ Million) by Country, 2023 to 2033
Figure 109: MEA Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 110: MEA Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 111: MEA Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 112: MEA Market Value (US$ Million) Analysis by Solution, 2018 to 2033
Figure 113: MEA Market Value Share (%) and BPS Analysis by Solution, 2023 to 2033
Figure 114: MEA Market Y-o-Y Growth (%) Projections by Solution, 2023 to 2033
Figure 115: MEA Market Value (US$ Million) Analysis by End-user, 2018 to 2033
Figure 116: MEA Market Value Share (%) and BPS Analysis by End-user, 2023 to 2033
Figure 117: MEA Market Y-o-Y Growth (%) Projections by End-user, 2023 to 2033
Figure 118: MEA Market Attractiveness by Solution, 2023 to 2033
Figure 119: MEA Market Attractiveness by End-user, 2023 to 2033
Figure 120: MEA Market Attractiveness by Country, 2023 to 2033
The market registered 7.8% of CAGR from 2018 to 2022.
The growth potential of the market is 4% through 2033.
High cost of adoption and lack of awareness are likely to limit market growth.
North America is likely to generate 25% revenue in 2023.
Substantial investment in research and development.
Explore Similar Insights
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.