The global technology industry experienced a 34% decline in the number of social responsibility-related patent applications in Q1 2024 compared with the previous quarter. The total number of social responsibility-related grants dropped by 27% 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 social responsibility-related patent applications in the technology industry was 180 in Q1 2024, versus 272 in the prior quarter.
The top five companies accounted for 16% of patenting activity
Analysis of patenting activity by companies shows that LG filed the most social responsibility patents within the technology industry in Q1 2024. The company filed 7 social responsibility-related patents in the quarter, compared with 9 in the previous quarter. It was followed by NIKE with 7 social responsibility patent filings, Honeywell International (6 filings), and Apple (5 filings) in Q1 2024.
Patenting activity was driven by the US with a 30% share of total patent filings
The largest share of social responsibility related patent filings in the technology industry in Q1 2024 was in the US with 30%, followed by China (21%) and Japan (5%). The share represented by the US was 6% higher than the 24% 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.
