The global technology industry experienced an 18% decline in the number of future of work-related patent applications in Q1 2024 compared with the previous quarter. The total number of future of work-related grants dropped by 6% 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 future of work-related patent applications in the technology industry was 18,243 in Q1 2024, versus 22,342 in the prior quarter.
The top five companies accounted for 6% of patenting activity
Analysis of patenting activity by companies shows that Samsung Group filed the most future of work patents within the technology industry in Q1 2024. The company filed 280 future of work-related patents in the quarter, compared with 337 in the previous quarter. It was followed by Hitachi with 223 future of work patent filings, Mitsubishi Electric (213 filings), and Siemens (211 filings) in Q1 2024.
Patenting activity was driven by China with a 47% share of total patent filings
The largest share of future of work related patent filings in the technology industry in Q1 2024 was in China with 47%, followed by the US (24%) and Japan (8%). The share represented by China was 27% lower than the 74% 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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