Pune, Maharashtra India (PressExposure) July 03, 2008 -- A recently released report by ValueNotes estimates that the revenues from offshored patent services to India to be $46 million for the calendar year 2007. Indian revenues are expected to grow at 35% per annum for the next 5 years. We expect the industry to achieve revenues of $206 million by end 2012.
The multi-service vendors constitute 86% of the patent services industry in India. The industry is highly fragmented with few large players and several smaller players. There are about 50 vendors in the industry with an estimated 1,550 professionals employed as of end 2007.
The patent services offshoring industry in India can be broadly classified into three groups - Captives, Third-party multi-service providers and Third-party pure play patent service providers. Typically the large players offer high-value services and the smaller players are driven by high volume and low-value services.
The larger and the well established KPOs and BPOs could acquire smaller players in order to set up or expand their patent services outsourcing business. Diversified players have an advantage primarily because they can cross-sell services, have strong cash flows to subsidize patent business and have more scale benefits.
According to Arun Jethmalani, CEO, ValueNotes, "The established vendors with exposure to high-value services will look to complete their array of offerings to attract more business from their existing clients. They will look to leverage end-to-end solutions." Adds Neeraja Kandala, Principal Analyst - Legal Services, ValueNotes, "Going forward, we believe that the pure play players will either look to diversify across the legal domain or will be forced to sell to larger competitors or US companies looking for a foothold in India."
Based on the exhaustive primary research and analysis of this sector, ValueNotes has identified top five vendors in this industry - Evalueserve, Pangea3, CPA Global, Lexadigm and Clairvolex.
The ValueNotes report, "Offshoring Patent Services to India" provides in-depth information and analysis of the buyer market as well as the Indian patent services vendor space.