The global technology industry experienced a 34% decline in the number of electric vehicles-related patent applications in Q1 2024 compared with the previous quarter. The total number of electric vehicles-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 electric vehicles-related patent applications in the technology industry was 757 in Q1 2024, versus 1,151 in the prior quarter.
The top five companies accounted for 29% of patenting activity
Analysis of patenting activity by companies shows that BYD filed the most electric vehicles patents within the technology industry in Q1 2024. The company filed 95 electric vehicles-related patents in the quarter, compared with 45 in the previous quarter. It was followed by Toyota Motor with 55 electric vehicles patent filings, Huawei Investment (34 filings), and Panasonic (20 filings) in Q1 2024.
Patenting activity was driven by the US with a 33% share of total patent filings
The largest share of electric vehicles related patent filings in the technology industry in Q1 2024 was in the US with 33%, followed by China (19%) and Japan (10%). The share represented by the US was 11% higher than the 22% 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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