The global consumer industry experienced 0.78% decline in the number of digitalization-related patent applications in Q1 2024 compared with the previous quarter. The total number of digitalization-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 digitalization-related patent applications in the consumer industry was 768 in Q1 2024, versus 774 in the prior quarter.
The top five companies accounted for 46% of patenting activity
Analysis of patenting activity by companies shows that LG filed the most digitalization patents within the consumer industry in Q1 2024. The company filed 116 digitalization-related patents in the quarter, compared with 138 in the previous quarter. It was followed by Hisense Visual Technology with 69 digitalization patent filings, Haier Group (66 filings), and Guangdong Oppo Mobile Telecommunications (59 filings) in Q1 2024.
Patenting activity was driven by China with a 28% share of total patent filings
The largest share of digitalization related patent filings in the consumer industry in Q1 2024 was in China with 28%, followed by the US (22%) and Japan (5%). The share represented by China was 5% lower than the 33% 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.
