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 in the cybersecurity sector are leveraging cutting-edge patents to drive innovation and enhance their operations. For instance, Hon Hai Precision Industry Co Ltd has developed a patent focusing on "Beam failure detection and recovery," which bolsters the reliability and performance of wireless communication systems by enabling user equipment (UE) to detect and recover from beam failures. LG Corp's patent, "Method and apparatus for preventing spread of infection," addresses infection prevention by creating a system where smart devices transmit signals containing information about confirmed cases, aiding in timely preventive measures. Intel Corp's patent introduces a roadside unit with a radio frontend port that efficiently processes signals from various radio communication protocols, improving connectivity and security. Additionally, Hon Hai Precision Industry Co Ltd's wireless communication patent enhances the reliability and efficiency of data transmission in response to Multicast Broadcast Service (MBS) data. Lastly, Brother Industries Ltd's patent outlines a management system for organized and secure data storage and retrieval, featuring a management device, storage device, and server. These innovations highlight the consumer industry's commitment to advancing cybersecurity technologies.

Acquiring these patents equips consumer companies with cutting-edge cybersecurity solutions, enhancing wireless communication, infection prevention, and roadside unit security. These innovations serve as invaluable tools to consumer companies for staying ahead in the dynamic digital landscape.

The industry experienced a 4% decline in the number of cybersecurity-related patent applications in Q2 2023 compared with the previous quarter. On an annual basis, the number of cybersecurity-related patent applications in the consumer industry witnessed a rise of 19% compared with Q2 2022.

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 Q2 2023, the number of cybersecurity-related deals in the consumer industry declined by 33% compared with Q2 2022. On a quarterly basis, there was 33% drop in the number of deals in Q2 2023 compared with the previous quarter.

Impact on hiring

In terms of new job posting, in Q2 2023, the consumer industry experienced a 20% drop compared with the previous quarter. On an annual basis, job postings also declined by 7%. Notably, Computer and mathematical occupations, with a share of 18%, emerged as the top cybersecurity-related job roles within the consumer industry in Q2 2023, with new job postings drop by 31% quarter-on-quarter. Management occupations came in second with a share of 17% in Q2 2023, with new job postings dropping by 24% over the previous quarter. The other prominent cybersecurity roles include business and financial operations occupations with a 7% share in Q2 2023, and office and administrative support occupations with a 4% share of new job postings.

Church & Dwight, Lien Hwa Industrial, Japan Tobacco, Samworth Brothers, and General Mills 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, the UK, Saudi Arabia, Malaysia and Austria also maintain significant positions in cybersecurity adoption within the consumer industry.

In summary, the consumer industry experiences fluctuations in cybersecurity-related patent applications and deal trends, with a recent decline in job postings. Key roles in computer and mathematical occupations remain significant with companies like Church & Dwight, Lien Hwa Industrial, and Japan Tobacco actively hiring.

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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.