The global technology industry experienced a 27% decline in the number of ecommerce-related patent applications in Q1 2024 compared with the previous quarter. The total number of ecommerce-related grants dropped by 9% 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 ecommerce-related patent applications in the technology industry was 4,577 in Q1 2024, versus 6,262 in the prior quarter.
The top five companies accounted for 9% of patenting activity
Analysis of patenting activity by companies shows that Toyota Motor filed the most ecommerce patents within the technology industry in Q1 2024. The company filed 126 ecommerce-related patents in the quarter, compared with 46 in the previous quarter. It was followed by NEC with 83 ecommerce patent filings, Coupang (69 filings), and Capital One Financial (61 filings) in Q1 2024.
Patenting activity was driven by the US with a 43% share of total patent filings
The largest share of ecommerce related patent filings in the technology industry in Q1 2024 was in the US with 43%, followed by China (12%) and Japan (7%). The share represented by the US was 10% higher than the 33% 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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