The global consumer industry experienced a 34% 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 19% in Q2 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Consumer: 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 consumer industry was 457 in Q2 2024, versus 695 in the prior quarter.
The top five companies accounted for 45% of patenting activity
Analysis of patenting activity by companies shows that LG filed the most internet of things patents within the consumer industry in Q2 2024. The company filed 84 internet of things-related patents in the quarter, compared with 149 in the previous quarter. It was followed by Guangdong Oppo Mobile Telecommunications with 39 internet of things patent filings, Vivo Mobile Communication (33 filings), and Haier Group (30 filings) in Q2 2024.
Patenting activity was driven by the US with a 33% share of total patent filings
The largest share of internet of things related patent filings in the consumer industry in Q2 2024 was in the US with 33%, followed by China (18%) and Japan (3%). The share represented by the US was 8% higher than the 24% share it accounted for in Q1 2024.
For further understanding of GlobalData's Consumer: 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.
