Cloud technology is rapidly transforming the consumer industry, with companies such as Intel Corp driving innovation through recent patents. Despite a decline in patent applications, strategic deals and hiring trends reflect the continued importance of cloud technology in shaping the consumer sector’s future. The impact of cloud extends beyond the consumer sector, influencing various industries. GlobalData’s cloud market report provides comprehensive analysis of the cloud market. Buy the report here.
This article presents a quarterly round-up of the latest trends in the consumer industry regarding cloud. It provides an overview of recent developments in cloud-related deals, talent acquisition, and patent filings within the consumer industry.
Diverse applications of cloud in consumer industry
Consumer companies like Intel Corp are leveraging new cloud technologies through recent patents to innovate and improve their businesses. These patents include methods for unified address translation for virtualization of input/output devices, allocating resources across data centers, performing cloud-based artificial intelligence overclocking, and facilitating adaptive resolution and viewpoint prediction for video streaming. By acquiring these patents, Intel Corp can benefit from advancements in cloud technology, such as improved resource allocation, enhanced AI performance, and better video streaming capabilities. These technologies will allow Intel Corp to stay competitive in the cloud market and provide more efficient and effective solutions to their customers.
The industry experienced a 26% decline in the number of cloud-related patent applications in Q4 2023 compared with the previous quarter. On an annual basis, the number of cloud-related patent applications in the consumer industry witnessed a rise of 10% compared with Q4 2022.
Strategic deal trends in cloud in consumer industry
Consumer companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in cloud. 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 cloud in the consumer industry.
In Q4 2023, the number of cloud-related deals in the consumer industry declined by 68% compared with Q4 2022. On a quarterly basis, there was 40% 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 9% drop compared with the previous quarter. On an annual basis, job postings also declined by 26%. Notably, computer and mathematical occupations, with a share of 36%, emerged as the top cloud-related job roles within the consumer industry in Q4 2023, with new job postings drop by 19% quarter-on-quarter. Management occupations came in second with a share of 18% in Q4 2023, with new job postings rising by 17% over the previous quarter. The other prominent cloud roles include business and financial operations occupations with a 5% share in Q4 2023, and office and administrative support occupations with a 3% share of new job postings.
British American Tobacco, PepsiCo, Haleon, Unilever, and Nestle are among the top companies leading in cloud hiring within the consumer industry.
Countries driving adoption of cloud in consumer industry
The US is the leading country in cloud adoption within the consumer industry, boasting the highest number of cloud-related patents, jobs, and deals. Meanwhile, the UK, Italy, South Korea and the Czech Republic also maintain significant positions in cloud adoption within the consumer industry.
In conclusion, the decline in cloud-related patent applications and deals in Q4 2023 suggests a shifting landscape, but with rising job postings and continued investment, the consumer industry remains poised for further cloud adoption and innovation.
To further understand GlobalData's analysis on cloud in the consumer industry, buy the report here.