The fitness wearables market is driving millions of shipments per year in silicon and devices. By 2019, IDC predicts that the worldwide wearables market will grow to around 155.7 million units. In addition to driving revenues — the fitness wearables market alone is projected to reach nearly $30 billion US dollars in 2016 as noted. The patent licensing landscape for this market is on the verge of explosive growth, especially since many of the patents used in IoT technology are nearly 20 years old.
Companies at the cutting edge of their industries have realized the immense value of their patent portfolios and are still trying to make the most of that value – but it is not easy. A semiconductor or electronics company can have tens of thousands of patents; finding the patents that are the most valuable is one of its biggest problems. These patents are needed to determine the strategy for patent sale, licensing or litigation, and without them the company is basically stuck and can’t move forward. The process is like sorting the grain from the chaff.