The global consumer industry experienced a 31% decline in the number of future of work-related patent applications in Q4 2023 compared with the previous quarter. The total number of future of work-related grants dropped by 4% 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 future of work-related patent applications in the consumer industry was 1,598 in Q4 2023, versus 2,332 in the prior quarter.
The top five companies accounted for 31% of patenting activity
Analysis of patenting activity by companies shows that Haier Group filed the most future of work patents within the consumer industry in Q4 2023. The company filed 153 future of work-related patents in the quarter, compared with 215 in the previous quarter. It was followed by Gree Electric Appliances Inc of Zhuhai with 145 future of work patent filings, LG (92 filings), and Brother Industries (71 filings) in Q4 2023.
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 Q4 2023 was in China with 33%, followed by the US (23%) and Japan (10%). The share represented by China was 8% lower than the 41% 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.
