In the realm of IoT, consumer companies are actively securing patents to advance their technological endeavors. These patents encompass a wide array of innovations, from seamless connectivity solutions to interactive video experiences. Additionally, strategic deals are reshaping the landscape, signifying the industry’s commitment to IoT’s transformative potential. As companies navigate this evolving terrain, hiring trends also reflect a growing demand for specialized roles in IoT-related domains, indicating a strategic shift towards bolstering expertise in this field. The impact of IoT extends beyond the consumer sector, influencing various industries. GlobalData’s Internet of Things (IoT) Market Size, Share and Trends, Analysis and Forecast report helps keep abreast of the latest trends in internet of things, market opportunity forecast and the competitive landscape. 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 in the IoT sector are harnessing cutting-edge patents for innovative strides. Intel Corp's patent addresses seamless coexistence of cellular and wireless communications, promising enhanced connectivity. TCL Technology Group Corp introduces an interactive video player, elevating user engagement through scene interaction. LG Corp's patents optimize wireless transmissions, enabling efficient mode switching and resource management, ultimately improving IoT device performance. Additionally, an information processing system patent facilitates personalized health notifications, enhancing the effectiveness of health check systems by leveraging user health data. These patents collectively represent a significant leap in IoT innovation, poised to reshape user experiences and connectivity in the consumer industry.

Overall, these patents highlight the ongoing efforts of consumer companies to develop and implement innovative IoT technologies and applications. By leveraging these patents, these companies will be able to enhance connectivity, user engagement, transmission efficiency, and personalized notifications in the IoT ecosystem.

The industry experienced a 28% decline in the number of IoT-related patent applications in Q2 2023 compared with the previous quarter. On an annual basis, the number of IoT-related patent applications in the consumer industry witnessed a rise of 15% compared with Q2 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 Q2 2023, the number of IoT-related deals in the consumer industry declined by 46% compared with Q2 2022. On a quarterly basis, there was 40% 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 13% drop compared with the previous quarter. On an annual basis, job postings also grew by 43%. Notably, computer and mathematical occupations, with a share of 19%, emerged as the top IoT-related job roles within the consumer industry in Q2 2023, with new job postings drop by 7% quarter-on-quarter. Management occupations came in second with a share of 15% in Q2 2023, with new job postings dropping by 23% over the previous quarter. The other prominent IoT roles include architecture and engineering occupations with a 7% share in Q2 2023, and business and financial operations occupations with a 5% share of new job postings.

Signify, Lien Hwa Industrial, Compagnie Financiere Richemont, General Mills, and Henkel 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, China, India, Canada and Austria also maintain significant positions in IoT adoption within the consumer industry.

In summary, the consumer industry sees fluctuations in IoT-related patent applications and deal trends, with recent declines in deals and job postings. Key roles in computer and mathematical occupations continue to be important with companies like Signify, Lien Hwa Industrial, and Compagnie Financiere Richemont actively hiring.

To further understand GlobalData's analysis on internet of things 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.