The global consumer industry experienced a 40% decline in the number of future of work-related patent applications in Q3 2024 compared with the previous quarter. The total number of future of work-related grants dropped by 11% in Q3 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Consumer: Patents Trends Q3 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 1,437 in Q3 2024, versus 2,396 in the prior quarter.
The top five companies accounted for 30% 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 Q3 2024. The company filed 130 future of work-related patents in the quarter, compared with 252 in the previous quarter. It was followed by LG with 99 future of work patent filings, Brother Industries (77 filings), and Gree Electric Appliances Inc of Zhuhai (67 filings) in Q3 2024.
Patenting activity was driven by China with a 25% share of total patent filings
The largest share of future of work related patent filings in the consumer industry in Q3 2024 was in China with 25%, followed by the US (25%) and Japan (9%). The share represented by China was 22% lower than the 47% share it accounted for in Q2 2024.
For further understanding of GlobalData's Consumer: Patents Trends Q3 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.
