In the dynamic landscape of the technology market, blockchain stands as a transformative force, influencing key players such as SOOHO.IO Inc., Dell Technologies Inc., Coinbase Global Inc., and Numéraire Financial, Inc. As these companies secure patents to harness the power of blockchain, strategic deals and evolving job dynamics further emphasize its pivotal role in shaping the industry’s future. The impact of blockchain extends beyond the technology sector, influencing various industries. GlobalData’s blockchain market report provides comprehensive analysis of the blockchain market. Buy the report here.
This article presents a quarterly round-up of the latest trends in the technology industry regarding blockchain. It provides an overview of recent developments in blockchain-related deals, talent acquisition, and patent filings within the technology industry.
Diverse applications of blockchain in technology industry
Leading technology companies such as SOOHO.IO Inc., Dell Technologies Inc., Coinbase Global Inc., and Numéraire Financial, Inc. are leveraging the latest blockchain patents to innovate and enhance their businesses. These patents cover a wide range of applications, from analyzing vulnerabilities in smart contract code to consensus-driven threat intelligence, decentralized avatar authentication, and secure communication for blockchain operations. By acquiring these patents, the acquirer will benefit from cutting-edge technologies that improve security, efficiency, and reliability in blockchain networks. These innovations will enable the acquirer to stay ahead in the competitive landscape of blockchain technology, offering enhanced services and solutions to their customers while ensuring the integrity and trustworthiness of their operations.
The industry experienced a 48% decline in the number of blockchain-related patent applications in Q4 2023 compared with the previous quarter. On an annual basis, the number of blockchain-related patent applications in the technology industry witnessed a drop of 3% compared with Q4 2022.
Strategic deal trends in blockchain in technology industry
Technology companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in blockchain. 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 blockchain in the technology industry.
In Q4 2023, the number of blockchain-related deals in the technology industry declined by 46% compared with Q4 2022. On a quarterly basis, there was 17% drop in the number of deals in Q4 2023 compared with the previous quarter.
Impact on hiring
In terms of new job posting, in Q4 2023, the technology industry experienced a 4% drop compared with the previous quarter. On an annual basis, job postings also declined by 32%. Notably, computer and mathematical occupations, with a share of 35%, emerged as the top blockchain-related job roles within the technology industry in Q4 2023, with new job postings drop by 0.53% quarter-on-quarter. Management occupations came in second with a share of 15% in Q4 2023, with new job postings dropping by 34% over the previous quarter. The other prominent blockchain roles include business and financial operations occupations with a 6% share in Q4 2023, and architecture and engineering occupations with a 4% share of new job postings.
Accenture, Foris DAX MT, International Business Machines, Circle Internet Financial, and Proximus are among the top companies leading in blockchain hiring within the technology industry.
Countries driving adoption of blockchain in technology industry
The US is the leading country in blockchain adoption within the technology industry, boasting the highest number of blockchain-related patents, jobs, and deals. Meanwhile, the UK, Canada, Singapore and Japan also maintain significant positions in blockchain adoption within the technology industry.
While patent applications exhibit fluctuations, the influence of blockchain on the technology industry persists, underscored by strategic alliances and evolving job dynamics. As the sector navigates these shifts, blockchain remains a transformative force, shaping a secure and efficient future for the technology landscape.
To further understand GlobalData's analysis on blockchain in the technology industry, buy the report here.