In the consumer industry, the Internet of Things (IoT) is a driving force for innovation and efficiency. Companies like Nike, Intel, and BlackBerry are leveraging recent patents to introduce groundbreaking technologies, from energy-capturing athletic devices to predictive driving systems, enhancing product offerings and operational effectiveness. Despite a decline in IoT-related patent applications and deals, the US leads in adoption, accompanied by New Zealand, China, Germany, and the UK. The impact of IoT extends beyond the consumer sector, influencing various industries. GlobalData’s Internet of Things market report provides comprehensive analysis of the IoT market. Buy the report here.
This article presents a quarterly round-up of the latest trends in the consumer industry regarding IoT. It provides an overview of recent developments in IoT-related deals, talent acquisition, and patent filings within the consumer industry.
Diverse applications of Internet of Things in consumer industry
Consumer companies like Nike, Intel, and BlackBerry are leveraging new Internet of Things (IoT) technologies through recent patents to innovate and improve their businesses. For example, Nike's patent on an athletic activity monitoring device with energy capture allows athletes to generate electrical energy while exercising, enhancing the user experience. Intel's patents on road surface friction-based predictive driving and dynamically managing resources in accelerators demonstrate advancements in autonomous driving and resource optimization. BlackBerry's patent on load balancing of sensors showcases improved efficiency in sensor systems. These technologies enable the acquirers to enhance product offerings, optimize operations, and provide innovative solutions in the IoT space, ultimately benefiting consumers with more efficient and advanced products and services.
The industry experienced a 38% decline in the number of IoT-related patent applications in Q4 2023 compared with the previous quarter. On an annual basis, the number of IoT-related patent applications in the consumer industry remained flat compared with Q4 2022.
Strategic deal trends in Internet of Things in consumer industry
Consumer companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in IoT. 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 IoT in the consumer industry.
In Q4 2023, the number of IoT-related deals in the consumer industry declined by 31% compared with Q4 2022. On a quarterly basis, the number of deals in Q4 2023 compared to the previous quarter, remained flat.
Impact on hiring
In terms of new job posting, in Q4 2023, the consumer industry experienced a 1% drop compared with the previous quarter. On an annual basis, job postings also declined by 42%. Notably, management occupations, with a share of 22%, emerged as the top IoT-related job roles within the consumer industry in Q4 2023, with new job postings rising by 54% quarter-on-quarter. Computer and mathematical occupations came in second with a share of 16% in Q4 2023, with new job postings dropping by 3% over the previous quarter. The other prominent IoT roles include sales and related occupations with a 9% share in Q4 2023, and architecture and engineering occupations with a 8% share of new job postings.
Signify, Sigma Alimentos, Sleep Number, Unilever, and iRobot are among the top companies leading in IoT hiring within the consumer industry.
Countries driving adoption of Internet of Things in consumer industry
The US is the leading country in IoT adoption within the consumer industry, boasting the highest number of IoT-related patents, jobs, and deals. Meanwhile, New Zealand, China, Germany and the UK also maintain significant positions in IoT adoption within the consumer industry.
In the consumer industry, companies such as Nike, Intel, and BlackBerry are leveraging IoT technologies to enhance product offerings and operational efficiency. Despite fluctuations in patent applications and deals, the industry continues to advance in IoT adoption, with various nations making significant strides in this space.
To further understand GlobalData's analysis on Internet of Things in the consumer industry, buy the report here.
Premium Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
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.
