Identifying new markets

Measurable market insights and indicators based on patent data

Technology profiles and competitive environments

Technological progress of any kind is subject to similar development: from early progress and euphoria to phases of uncertainty, until finally a market breakthrough leads to established products and services. Patents follow each of these phases in a measurable way, as all active economic actors seek to secure a share of future markets in order to recoup some of their earlier investments. Therefore, patents are a predictive indicator and measure a company’s innovation that will lead to a product within 2-5 years. A company with extensive patent activity in a particular technology is likely to develop and commercialize a product in the coming years. Conversely, a company that does not have patents is unlikely to play an active role in that area in the future. Any player with a strategic interest in a future market will closely monitor both its own position and that of its competitors.

But what if the future market is so different from the current one that future competitors or partners are not yet known? EconSight’s combination of expert knowledge and best-in-class NLP and machine learning can position each actor or concept in its proper technological environment to exploit all opportunities to make the most of a company’s intellectual property.

Top-20 companies in Smart Factory

Major players trust the EconSight approach

Strategic Technologies for Panasonic

«EconSight’s innovative technology concepts and sophisticated analyses provide us with new perspectives and a reliable foundation for strategic business decisions»

Panasonic

Customized offerings for corporate clients

Identification of market opportunities

A multi-dimensional concept for the identification of promising markets

EconSight’s combination of an expert-defined comprehensive technology taxonomy, ready-to-use patent collections, and business relevance-based quality assessment can be used to precisely measure and position each relevant player in a technology sector. In addition, proprietary NLP and machine learning algorithms are trained on the comprehensive taxonomy to further subdivide each field into hundreds of technology segments to correctly identify and measure each relevant sub-concept in its technology environment.

EconSight can identify and assess the degree of conceptual proximity of players based on the text of their published patents, and identifies any new or old potential competitor or even matching players for strategic investment. EconSight’s 3D cluster analysis identifies the most dynamic, smallest and attractive technology segments to find the starting point for the most efficient IP strategy. Innovative designs or raw patent applications can later be evaluated for uniqueness, grant probability or predictive quality ratings and projected into an existing patent landscape as if they were already published, all based on text and only in the relevant technological segments. Highly likely inventions in promising technology segments can be identified and prioritized, turning IP costs into profits.

For corporate IP strategy and IP experts

How is my company positioned and where can I achieve the greatest IP strength in a dynamic and competitive environment?

It is often about being the best, not necessarily the biggest. We precisely measure the position of companies in relation to the technology field and channel innovation into the most promising results. Starting from 500 predefined technology fields or based on customer-specific definitions, we provide a text-based conceptual breakdown of each technology field to identify which technology segment is the most promising and dynamic. We measure the competitive situation in each segment and find those with the best leverage ratio. In this segment, we can project existing or new draft, patent rough filings, or unpublished data in secured environments (text must not reach external databases or the cloud). Uniqueness scores, grant probabilities or citation predictions in the technology segment help prioritize the best candidates. EconSight’s proprietary iterative, AI-powered full-text search engine provides prompt results for the surrounding state of the art to complete every aspect of IP focus and get the most out of IP investments.

Background – what do we do new, different and better?

500 curated technologies

A technology taxonomy consisting of 500 curated cutting-edge technologies, defined from a market perspective and not from a purely technical perspective.

Next generation AI-based patent analysis

We use AI where it makes sense and leads to better results. Intelligently linked with our technologies and based on more than 20 years of expert knowledge: innovation evaluation and scoring, grant predictors, enhanced patent searches, and risk analysis.

Precise indicators

EconSight indicators are designed to get the best possible information out of patents: World Class Patents, Company Innovation Score, EconSight Patent Score, Global Tech Share, Specialisation Degree, Enabling Technology Environment, and time series data from 1990 to 2023

Business relevant patent scores

EconSight developed a technology-specific patent score that focusses on business relevancy in patent citations and “critical mass” country coverage, and specifically takes younger patents into account with AI-based grant and citation predictions.