The global technology industry experienced a 48% decline in the number of blockchain-related patent applications in Q4 2023 compared with the previous quarter. The total number of blockchain-related grants dropped by 3% in Q4 2023, according to GlobalData’s Patent Analytics. GlobalData’s databook Technology: Patents Trends Q4 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 blockchain-related patent applications in the technology industry was 1,523 in Q4 2023, versus 2,955 in the prior quarter.

The top five companies accounted for 14% of patenting activity

Analysis of patenting activity by companies shows that nChain filed the most blockchain patents within the technology industry in Q4 2023. The company filed 77 blockchain-related patents in the quarter, compared with 114 in the previous quarter. It was followed by Bank of America with 39 blockchain patent filings, International Business Machines (34 filings), and Tencent (32 filings) in Q4 2023.

Patenting activity was driven by the US with a 58% share of total patent filings

The largest share of blockchain related patent filings in the technology industry in Q4 2023 was in the US with 58%, followed by China (8%) and the UK (2%). The share represented by the US was 30% higher than the 27% share it accounted for in Q3 2023.

For further understanding of GlobalData's Technology: Patents Trends Q4 2023, buy the databook here.

This content was updated on 23 January 2024

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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.