The global consumer industry experienced a 16% decline in the number of future of work-related patent applications in Q1 2024 compared with the previous quarter. The total number of future of work-related grants dropped by 6% in Q1 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Consumer: 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 future of work-related patent applications in the consumer industry was 1,598 in Q1 2024, versus 1,913 in the prior quarter.
The top five companies accounted for 34% of patenting activity
Analysis of patenting activity by companies shows that Gree Electric Appliances Inc of Zhuhai filed the most future of work patents within the consumer industry in Q1 2024. The company filed 197 future of work-related patents in the quarter, compared with 178 in the previous quarter. It was followed by Haier Group with 113 future of work patent filings, Dyson Holdings (87 filings), and LG (74 filings) in Q1 2024.
Patenting activity was driven by China with a 33% share of total patent filings
The largest share of future of work related patent filings in the consumer industry in Q1 2024 was in China with 33%, followed by the US (23%) and Japan (10%). The share represented by China was 17% lower than the 50% share it accounted for in Q4 2023.
For further understanding of GlobalData's Consumer: 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.
