The global consumer industry experienced a 50% decline in the number of digitalization-related patent applications in Q2 2023 compared with the previous quarter. The total number of digitalization-related grants dropped by 27% in Q2 2023, according to GlobalData’s Patent Analytics. Digitalization is one of the eight mega-trends that GlobalData covers as part of the TrendSights series of consumer insight studies. GlobalData’s Digitalization – Consumer TrendSights Analysis report highlights the market drivers, the relevance of trends by sector and provides strategic take-outs for new product development. Buy the report here.
Notably, the number of digitalization-related patent applications in the consumer industry was 228 in Q2 2023, versus 456 in the prior quarter.
The top five companies accounted for 54% of patenting activity
Analysis of patenting activity by companies shows that Hisense Visual Technology filed the most digitalization patents within the consumer industry in Q2 2023. The company filed 38 digitalization-related patents in the quarter, compared with 71 in the previous quarter. It was followed by Haier Group with 35 digitalization patent filings, Intel (21 filings), and China Electronics Technology Group (20 filings) in Q2 2023.
Patenting activity was driven by China with a 47% share of total patent filings
The largest share of digitalization related patent filings in the consumer industry in Q2 2023 was in China with 47%, followed by the US (32%) and Japan (8%). The share represented by China was 5% higher than the 42% share it accounted for in Q1 2023.
For further understanding of GlobalData's Digitalization – Consumer TrendSights Analysis, 2022 buy the report here.