Cloud technologies are revolutionizing the consumer industry by enhancing operational efficiency and service reliability. Recent advancements include innovations such as secure lighting control networks, digital twin technologies for traffic anomaly reconstruction, and smart space rating systems for improved security assessments. Despite a decline in patent applications, there is a significant uptick in cloud-related deals and hiring, reflecting the growing importance of these technologies in the industry. The impact of cloud technology extends beyond the consumer sector, influencing various industries. GlobalData’s cloud market report provides comprehensive analysis of the cloud market. Buy the report here.
This article presents a quarterly round-up of the latest trends in the consumer industry regarding cloud. It provides an overview of recent developments in cloud-related deals, talent acquisition, and patent filings within the consumer industry.
Diverse applications of cloud in consumer industry
Consumer companies are leveraging innovative cloud technologies to enhance their operational efficiency and service offerings. Recent patents highlight advancements such as a method for uninterrupted control in lighting networks, which ensures security against unauthorized access, and a digital twin technology for reconstructing traffic anomalies, improving real-time data analysis. Additionally, a trustworthy cloud-based smart space rating system enhances security assessments through distributed data collection. Intel's mechanism for prioritizing I/O in Network Function Virtualization (NFV) workloads optimizes performance during platform overloads, while LG's point cloud data transmission methods facilitate efficient data handling. These innovations collectively empower companies to improve service reliability, security, and data management in cloud applications.
The industry experienced a 32% decline in the number of cloud-related patent applications in Q2 2024 compared with the previous quarter. On an annual basis, the number of cloud-related patent applications in the consumer industry witnessed a drop of 10% compared with Q2 2023.
Strategic deal trends in cloud in consumer industry
Consumer companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in cloud. These investments aim to secure lucrative deals with partners and position themselves at the forefront of industry advancements. Some of the recent deals underscore the importance of cloud in the consumer industry.
In Q2 2024, the number of cloud-related deals in the consumer industry grew by 38% compared with Q2 2023. On a quarterly basis, there was 14% increase in the number of deals in Q2 2024 compared with the previous quarter.
Impact on hiring
In terms of new job posting, in Q2 2024, the consumer industry experienced a 21% drop compared with the previous quarter. On an annual basis, job postings also grew by 22%. Notably, computer and mathematical occupations, with a share of 32%, emerged as the top cloud-related job roles within the consumer industry in Q2 2024, with new job postings drop by 28% quarter-on-quarter. Management occupations came in second with a share of 14% in Q2 2024, with new job postings dropping by 5% over the previous quarter. The other prominent cloud roles include business and financial operations occupations with a 5% share in Q2 2024, and architecture and engineering occupations with a 3% share of new job postings.
British American Tobacco, Kenvue, PepsiCo, Nestle, and Emerson Radio are among the top companies leading in cloud hiring within the consumer industry.
Countries driving adoption of cloud in consumer industry
The US is the leading country in cloud adoption within the consumer industry, boasting the highest number of cloud-related patents, jobs, and deals. Meanwhile, the UK, Japan, India and China also maintain significant positions in cloud adoption within the consumer industry.
In conclusion, despite a decline in patent applications, the consumer industry's investment in cloud technologies is growing, evidenced by a notable increase in strategic deals. The US remains at the forefront of cloud adoption, highlighting its critical role in shaping the future of cloud applications in the sector.
To further understand GlobalData's analysis on cloud in the consumer industry, buy the report 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 Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. 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.
