The global technology industry experienced a 23% decline in the number of internet of things-related patent applications in Q1 2024 compared with the previous quarter. The total number of internet of things-related grants dropped by 11% 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.
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Notably, the number of internet of things-related patent applications in the technology industry was 5,425 in Q1 2024, versus 7,080 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 Q1 2024. The company filed 368 internet of things-related patents in the quarter, compared with 415 in the previous quarter. It was followed by Apple with 201 internet of things patent filings, Qualcomm (185 filings), and Huawei Investment (173 filings) in Q1 2024.
Patenting activity was driven by the US with a 43% share of total patent filings
The largest share of internet of things related patent filings in the technology industry in Q1 2024 was in the US with 43%, followed by China (22%) and Japan (3%). The share represented by the US was 8% higher than the 35% 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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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.
