In the realm of the tech industry, the ecommerce sector is experiencing a revolution driven by innovative patents that redefine the technological landscape. Simultaneously, strategic deals are shaping the future of ecommerce, ushering in a new era of industry dynamics. Within the evolving employment landscape, key players are at the forefront, contributing to the global hub of patents, jobs, and transformative deals in the ecommerce sector. GlobalData’s business to consumer (B2C) ecommerce market report offers a thorough analysis of the global B2C eCommerce market, segmentation and forecast by payment methods and region, and the current competitive landscape. Buy the report here.
This article presents a quarterly round-up of the latest trends in the technology industry regarding ecommerce. It provides an overview of recent developments in ecommerce-related deals, talent acquisition, and patent filings within the technology industry.
Diverse applications of ecommerce in technology industry
Technology companies in the field of ecommerce are leveraging the latest patents to innovate and improve their businesses. One such patent, titled "Methods and apparatus to measure exposure to streaming media," discloses techniques to measure exposure to streaming media. This technology allows companies to access metadata and cookie data provided by client devices, determine user identification, and provide this information to a central facility. Another patent, titled "Device controller and viewer," enables remote configuration and control of client devices without user input, allowing for easy distribution and installation of content and settings. Additionally, a patent for a "Hierarchical data exchange management system" facilitates the exchange of information between data source devices and data consumer devices, allowing for efficient data requests and transmission. Another patent focuses on a "Sports and concert event ticket pricing and visualization system," which helps determine inventory pricing based on the rate of seat sales. Lastly, a patent for "Real-time collateral recommendation" provides methods for recommending real-time collateral to business development representatives based on communications with customers. These patents offer valuable technologies and applications for ecommerce companies, allowing them to enhance their streaming media measurement, device control, data exchange, ticket pricing, and collateral recommendation capabilities. Acquiring these patents will provide the acquirer with a competitive advantage in the ecommerce industry by enabling them to offer innovative solutions and improve their overall business operations.
The industry experienced a 29% decline in the number of ecommerce-related patent applications in Q3 2023 compared with the previous quarter. On an annual basis, the number of ecommerce-related patent applications in the technology industry witnessed a drop of 17% compared with Q3 2022.
Strategic deal trends in ecommerce in technology industry
Technology companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in ecommerce. 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 ecommerce in the technology industry.
In Q3 2023, the number of ecommerce-related deals in the technology industry declined by 25% compared with Q3 2022. On a quarterly basis, there was 6% drop in the number of deals in Q3 2023 compared with the previous quarter.
Impact on hiring
In terms of new job posting, in Q3 2023, the technology industry experienced a 10% drop compared with the previous quarter. On an annual basis, job postings also declined by 41%. Notably, computer and mathematical occupations, with a share of 28%, emerged as the top ecommerce-related job roles within the technology industry in Q3 2023, with new job postings drop by 7% quarter-on-quarter. Management occupations came in second with a share of 22% in Q3 2023, with new job postings dropping by 15% over the previous quarter. The other prominent ecommerce roles include sales and related occupations with an 8% share in Q3 2023, and business and financial operations occupations with a 8% share of new job postings.
Countries driving adoption of ecommerce in technology industry
The US is the leading country in ecommerce adoption within the technology industry, boasting the highest number of ecommerce-related patents, jobs, and deals. Meanwhile, India, China, the UK and Germany also maintain significant positions in ecommerce adoption within the technology industry.
In conclusion, the tech industry undergoes a transformative shift driven by inventive patents, strategic deals, and evolving job dynamics within ecommerce. The sector's future takes shape through a dynamic amalgamation of technological breakthroughs and shifting employment trends, shaping the industry's trajectory beyond traditional boundaries.
To further understand GlobalData's analysis on ecommerce in the technology industry, buy the report here.