Big data technologies, demonstrated through recent patents from industry leaders, are transforming the consumer sector with advancements in data processing and energy management, offering improved efficiency and user experiences. Acquiring these patents is essential for companies to stay competitive and drive innovation in the dynamic big data landscape, as reflected in trends in innovation, investment, and hiring within the consumer industry. The impact of big data extends beyond the consumer sector, influencing various industries. GlobalData’s big data market report provides comprehensive analysis of the big data market. Buy the report here.
This article presents a quarterly round-up of the latest trends in the consumer industry regarding big data. It provides an overview of recent developments in big data-related deals, talent acquisition, and patent filings within the consumer industry.
Diverse applications of big data in consumer industry
Consumer companies like Intel Corp, Yamaha Corp, and Causam Energy, Inc. are leveraging new big data technologies through their latest patents. Intel Corp's patents focus on technologies for allocating resources across data centers and heterogeneous computing, while also addressing processor power management. Yamaha Corp's patent involves a content data processing method for live events. Causam Energy, Inc. is innovating in the field of advanced energy settlements for electric power grids. These patents showcase advancements in data processing, resource allocation, and energy management. Acquirers of these patents stand to benefit from improved efficiency, resource optimization, and enhanced user experiences in their big data applications. These technologies will enable companies to stay competitive and drive innovation in the rapidly evolving big data landscape.
The industry experienced a 7% decline in the number of big data-related patent applications in Q4 2023 compared with the previous quarter. On an annual basis, the number of big data-related patent applications in the consumer industry witnessed a drop of 13% compared with Q4 2022.
Strategic deal trends in big data in consumer industry
Consumer companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in big data. These investments aim to secure lucrative deals with partners and position themselves at the forefront of industry advancements. Some of the recent deals underscore the importance of big data in the consumer industry.
In Q4 2023, the number of big data-related deals in the consumer industry declined by 32% compared with Q4 2022. On a quarterly basis, there was 24% drop in the number of deals in Q4 2023 compared with the previous quarter.
Impact on hiring
In terms of new job posting, in Q4 2023, the consumer industry experienced a 8% drop compared with the previous quarter. On an annual basis, job postings also declined by 33%. Notably, management occupations, with a share of 23%, emerged as the top big data-related job roles within the consumer industry in Q4 2023, with new job postings rising by 9% quarter-on-quarter. Computer and mathematical occupations came in second with a share of 16% in Q4 2023, with new job postings dropping by 12% over the previous quarter. The other prominent big data roles include business and financial operations occupations with an 11% share in Q4 2023, and office and administrative support occupations with a 5% share of new job postings.
PepsiCo, Unilever, Nestle, Mondelez International, and Petco Health and Wellness are among the top companies leading in big data hiring within the consumer industry.
Countries driving adoption of big data in consumer industry
The US is the leading country in big data adoption within the consumer industry, boasting the highest number of big data-related patents, jobs, and deals. Meanwhile, the UK, the UAE, Turkiye and the Ukraine also maintain significant positions in big data adoption within the consumer industry.
Innovations in big data technologies by consumer industry leaders like Intel Corp, Yamaha Corp, and Causam Energy, Inc., as evidenced by recent patents, are driving advancements in data processing, resource allocation, and energy management. Acquiring these patents is vital for companies to optimize efficiency, enhance user experiences, and stay competitive in the evolving landscape of big data applications.
To further understand GlobalData's analysis on big data in the consumer industry, buy the report here.