The global technology industry experienced a 30% decline in the number of internet of things-related patent applications in Q3 2023 compared with the previous quarter. The total number of internet of things-related grants dropped by 28% 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 internet of things-related patent applications in the technology industry was 5,397 in Q3 2023, versus 7,759 in the prior quarter.
The top five companies accounted for 19% 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 Q3 2023. The company filed 469 internet of things-related patents in the quarter, compared with 784 in the previous quarter. It was followed by Huawei Investment with 170 internet of things patent filings, LG (157 filings), and Apple (109 filings) in Q3 2023.
Patenting activity was driven by the US with a 42% share of total patent filings
The largest share of internet of things related patent filings in the technology industry in Q3 2023 was in the US with 42%, followed by China (18%) and South Korea (8%). The share represented by the US was 9% higher than the 33% share it accounted for in Q2 2023.
For further understanding of GlobalData's Technology: Patents Trends Q3 2023, buy the databook here.