The global consumer industry experienced a 25% decline in the number of internet of things-related patent applications in Q1 2023 compared with the previous quarter. The total number of internet of things-related grants dropped by 44% in Q1 2023, according to GlobalData’s Patent Analytics. The growing application of Internet of Things will prove to have a transformative impact across multiple sectors. GlobalData’s Internet of Things (IoT) Market report helps keep abreast of the latest trends in Internet of Things, market opportunity forecast and the competitive landscape. Buy the report here.
Notably, the number of internet of things-related patent applications in the consumer industry was 196 in Q1 2023, versus 261 in the prior quarter.
The top five companies accounted for 47% of patenting activity
Analysis of patenting activity by companies shows that Guangdong Oppo Mobile Telecommunications filed the most internet of things patents within the consumer industry in Q1 2023. The company filed 34 internet of things-related patents in the quarter, compared with 43 in the previous quarter. It was followed by Haier Group with 21 internet of things patent filings, Vivo Communication Technology (14 filings), and LG (13 filings) in Q1 2023.
Patenting activity was driven by China with a 20% share of total patent filings
The largest share of internet of things related patent filings in the consumer industry in Q1 2023 was in China with 20%, followed by South Korea (11%) and Japan (10%). The share represented by China was 3% lower than the 23% share it accounted for in Q4 2022.
To further understand GlobalData's analysis on Internet of Things (IoT) Market Size, Share, Trends Analysis, and Segment Forecast 2021-2026 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’s Patent Analytics tracks patent filings and grants from official offices around the world. 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.
