The global consumer industry experienced a 55% decline in the number of internet of things-related patent applications in Q2 2023 compared with the previous quarter. The total number of internet of things-related grants dropped by 28% in Q2 2023, according to GlobalData’s Patent Analytics. The growing application of Internet of Things will prove to have a transformative impact across multiple sectors. GlobalData’s Internet of Things (IoT) Market report helps keep abreast of the latest trends in Internet of Things, market opportunity forecast and the competitive landscape. Buy the report here.

Notably, the number of internet of things-related patent applications in the consumer industry was 118 in Q2 2023, versus 262 in the prior quarter.

The top five companies accounted for 44% of patenting activity

Analysis of patenting activity by companies shows that Intel filed the most internet of things patents within the consumer industry in Q2 2023. The company filed 16 internet of things-related patents in the quarter, compared with 23 in the previous quarter. It was followed by Strong Force Iot Portfolio 2016 with 10 internet of things patent filings, Haier Group (10 filings), and NIKE (10 filings) in Q2 2023.

Patenting activity was driven by the US with a 73% share of total patent filings

The largest share of internet of things related patent filings in the consumer industry in Q2 2023 was in the US with 73%, followed by China (14%) and Japan (6%). The share represented by the US was 40% higher than the 32% share it accounted for in Q1 2023.

To further understand GlobalData's analysis on Internet of Things (IoT) Market Size, Share, Trends Analysis, and Segment Forecast 2021-2026 buy the report here.

This content was updated on 2 August 2023

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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.