The global technology industry experienced a 38% decline in the number of cloud-related patent applications in Q1 2024 compared with the previous quarter. The total number of cloud-related grants dropped by 1% in Q1 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Technology: Patents Trends Q1 2024 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 cloud-related patent applications in the technology industry was 1,867 in Q1 2024, versus 3,004 in the prior quarter.
The top five companies accounted for 13% of patenting activity
Analysis of patenting activity by companies shows that Oracle filed the most cloud patents within the technology industry in Q1 2024. The company filed 61 cloud-related patents in the quarter, compared with 79 in the previous quarter. It was followed by Broadcom with 56 cloud patent filings, International Business Machines (49 filings), and Microsoft (46 filings) in Q1 2024.
Patenting activity was driven by the US with a 65% share of total patent filings
The largest share of cloud related patent filings in the technology industry in Q1 2024 was in the US with 65%, followed by China (12%) and the UK (1%). The share represented by the US was 26% higher than the 39% share it accounted for in Q4 2023.
For further understanding of GlobalData's Technology: Patents Trends Q1 2024, buy the databook here.
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