The global technology industry experienced a 19% decline in the number of future of work-related patent applications in Q3 2023 compared with the previous quarter. The total number of future of work-related grants dropped by 24% in Q3 2023, according to GlobalData’s Patent Analytics. GlobalData’s databook Technology: Patents Trends Q3 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 future of work-related patent applications in the technology industry was 17,588 in Q3 2023, versus 21,806 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 Q3 2023. The company filed 291 future of work-related patents in the quarter, compared with 462 in the previous quarter. It was followed by Fanuc with 228 future of work patent filings, Hitachi (210 filings), and Canon (185 filings) in Q3 2023.
Patenting activity was driven by China with a 37% share of total patent filings
The largest share of future of work related patent filings in the technology industry in Q3 2023 was in China with 37%, followed by the US (23%) and Japan (6%). The share represented by China was 2% higher than the 35% share it accounted for in Q2 2023.
For further understanding of GlobalData's Technology: Patents Trends Q3 2023, buy the databook here.