The global technology industry experienced a 28% decline in the number of internet of things-related patent applications in Q2 2024 compared with the previous quarter. The total number of internet of things-related grants dropped by 5% in Q2 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Technology: Patents Trends Q2 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.
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Notably, the number of internet of things-related patent applications in the technology industry was 5,665 in Q2 2024, versus 7,856 in the prior quarter.
The top five companies accounted for 20% of patenting activity
Analysis of patenting activity by companies shows that Samsung Group filed the most internet of things patents within the technology industry in Q2 2024. The company filed 589 internet of things-related patents in the quarter, compared with 440 in the previous quarter. It was followed by Huawei Investment with 217 internet of things patent filings, Qualcomm (118 filings), and Apple (112 filings) in Q2 2024.
Patenting activity was driven by the US with a 38% share of total patent filings
The largest share of internet of things related patent filings in the technology industry in Q2 2024 was in the US with 38%, followed by China (23%) and Japan (2%). The share represented by the US was 6% higher than the 32% share it accounted for in Q1 2024.
For further understanding of GlobalData's Technology: Patents Trends Q2 2024, buy the databook here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
