The global consumer industry experienced a 22% decline in the number of digitalization-related patent applications in Q3 2023 compared with the previous quarter. The total number of digitalization-related grants dropped by 10% in Q3 2023, according to GlobalData’s Patent Analytics. GlobalData’s databook Consumer: Patents Trends Q3 2023 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.
Notably, the number of digitalization-related patent applications in the consumer industry was 659 in Q3 2023, versus 842 in the prior quarter.
The top five companies accounted for 46% of patenting activity
Analysis of patenting activity by companies shows that LG filed the most digitalization patents within the consumer industry in Q3 2023. The company filed 107 digitalization-related patents in the quarter, compared with 116 in the previous quarter. It was followed by Haier Group with 82 digitalization patent filings, Hisense Visual Technology (65 filings), and Vivo Communication Technology (27 filings) in Q3 2023.
Patenting activity was driven by China with a 29% share of total patent filings
The largest share of digitalization related patent filings in the consumer industry in Q3 2023 was in China with 29%, followed by the US (22%) and Japan (10%). The share represented by China was 13% lower than the 42% share it accounted for in Q2 2023.
For further understanding of GlobalData's Consumer: Patents Trends Q3 2023, buy the databook here.