The global technology industry experienced a 31% decline in the number of social media-related patent applications in Q3 2023 compared with the previous quarter. The total number of social media-related grants dropped by 22% 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 social media-related patent applications in the technology industry was 870 in Q3 2023, versus 1,253 in the prior quarter.
The top five companies accounted for 12% of patenting activity
Analysis of patenting activity by companies shows that Snap filed the most social media patents within the technology industry in Q3 2023. The company filed 45 social media-related patents in the quarter, compared with 72 in the previous quarter. It was followed by Meta Platforms with 21 social media patent filings, China United Network Communications Group (15 filings), and Adeia (13 filings) in Q3 2023.
Patenting activity was driven by the US with a 47% share of total patent filings
The largest share of social media related patent filings in the technology industry in Q3 2023 was in the US with 47%, followed by China (24%) and South Korea (7%). The share represented by the US was 3% higher than the 45% share it accounted for in Q2 2023.
For further understanding of GlobalData's Technology: Patents Trends Q3 2023, buy the databook here.