The global consumer industry experienced a 10% decline in the number of digitalization-related patent applications in Q4 2023 compared with the previous quarter. The total number of digitalization-related grants dropped by 12% in Q4 2023, according to GlobalData’s Patent Analytics. GlobalData’s databook Consumer: Patents Trends Q4 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.
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Notably, the number of digitalization-related patent applications in the consumer industry was 709 in Q4 2023, versus 790 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 digitalization patents within the consumer industry in Q4 2023. The company filed 129 digitalization-related patents in the quarter, compared with 131 in the previous quarter. It was followed by Haier Group with 69 digitalization patent filings, Guangdong Oppo Mobile Telecommunications (50 filings), and Hisense Visual Technology (40 filings) in Q4 2023.
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Patenting activity was driven by China with a 30% share of total patent filings
The largest share of digitalization related patent filings in the consumer industry in Q4 2023 was in China with 30%, followed by the US (24%) and Japan (6%). The share represented by China was 2% lower than the 32% share it accounted for in Q3 2023.
For further understanding of GlobalData's Consumer: Patents Trends Q4 2023, 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.
