The global consumer industry experienced a 37% decline in the number of internet of things-related patent applications in Q3 2023 compared with the previous quarter. The total number of internet of things-related grants dropped by 18% in Q3 2023, according to GlobalData’s Patent Analytics. GlobalData’s databook Consumer: Patents Trends Q3 2023 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.
Notably, the number of internet of things-related patent applications in the consumer industry was 546 in Q3 2023, versus 872 in the prior quarter.
The top five companies accounted for 58% of patenting activity
Analysis of patenting activity by companies shows that LG filed the most internet of things patents within the consumer industry in Q3 2023. The company filed 156 internet of things-related patents in the quarter, compared with 194 in the previous quarter. It was followed by Guangdong Oppo Mobile Telecommunications with 62 internet of things patent filings, Haier Group (55 filings), and Haier Youjia Intelligent Technology (Beijing) (25 filings) in Q3 2023.
Patenting activity was driven by the US with a 36% share of total patent filings
The largest share of internet of things related patent filings in the consumer industry in Q3 2023 was in the US with 36%, followed by China (14%) and South Korea (10%). The share represented by the US was 7% higher than the 28% share it accounted for in Q2 2023.
For further understanding of GlobalData's Consumer: Patents Trends Q3 2023, buy the databook here.