Cybersecurity in the Consumer industry is a critical aspect that companies are increasingly focusing on to protect their operations, customer data, and intellectual property. Companies such as Opple Lighting Co Ltd, British American Tobacco Plc, Intel Corp, and Brother Industries Ltd are employing recent patents to bolster cybersecurity, enhancing secure communication, data protection, and network integrity. This adoption not only fortifies their defenses against cyber threats but also reinforces their commitment to safeguarding sensitive information and maintaining operational resilience. The impact of cybersecurity extends beyond the consumer sector, influencing various industries. GlobalData’s cybersecurity market report provides comprehensive analysis of the market. Buy the report here.
This article presents a quarterly round-up of the latest trends in the consumer industry regarding cybersecurity. It provides an overview of recent developments in cybersecurity-related deals, talent acquisition, and patent filings within the consumer industry.
Diverse applications of cybersecurity in consumer industry
Consumer companies like Intel Corp and Vivo Mobile Communication Co Ltd are leveraging new cybersecurity technologies through recent patents. Intel Corp's patent involves a method for on-premises augmented and virtual reality processing with privacy-preserving infrastructure, enhancing data security. Another patent by Intel Corp focuses on generating new data records based on hash values for improved data integrity. On the other hand, Vivo Mobile Communication Co Ltd's patent introduces a processing method for key material, enhancing communication security. These technologies offer innovative solutions for data protection, access control, and secure transactions, benefiting acquirers by strengthening their cybersecurity measures and safeguarding sensitive information in an increasingly digital world.
The industry experienced a 16% decline in the number of cybersecurity-related patent applications in Q1 2024 compared with the previous quarter. On an annual basis, the number of cybersecurity-related patent applications in the consumer industry witnessed a drop of 10% compared with Q1 2023.
Strategic deal trends in cybersecurity in consumer industry
Consumer companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in cybersecurity. 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 cybersecurity in the consumer industry.
In Q1 2024, the number of cybersecurity-related deals in the consumer industry declined by 4% compared with Q1 2023. On a quarterly basis, there was 64% increase in the number of deals in Q1 2024 compared with the previous quarter.
Impact on hiring
In terms of new job posting, in Q1 2024, the consumer industry experienced a 27% growth compared with the previous quarter. On an annual basis, job postings also declined by 0.59%. Notably, computer and mathematical occupations, with a share of 16%, emerged as the top cybersecurity-related job roles within the consumer industry in Q1 2024, with new job postings drop by 4% quarter-on-quarter. Management occupations came in second with a share of 16% in Q1 2024, with new job postings rising by 12% over the previous quarter. The other prominent cybersecurity roles include business and financial operations occupations with a 6% share in Q1 2024, and office and administrative support occupations with a 3% share of new job postings.
Church & Dwight, British American Tobacco, Mondelez International, Danone, and Arcelik are among the top companies leading in cybersecurity hiring within the consumer industry.
Countries driving adoption of cybersecurity in consumer industry
The US is the leading country in cybersecurity adoption within the consumer industry, boasting the highest number of cybersecurity-related patents, jobs, and deals. Meanwhile, Germany, the UK, South Korea and Japan also maintain significant positions in cybersecurity adoption within the consumer industry.
In conclusion, recent cybersecurity patents in the consumer industry signify a pivotal shift towards enhanced data privacy and communication security. Despite fluctuations in patent applications, increased strategic investments and job postings underscore a concerted effort to fortify defenses against evolving cyber threats, ensuring robust protection across digital landscapes.
To further understand GlobalData's analysis on cybersecurity in the consumer industry, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. 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.
