Consumer companies are increasingly harnessing big data technologies to boost operational efficiency and enhance data management. Innovations such as Intel’s advanced memory access techniques and blockchain technologies for data integrity are driving this shift. Despite a decline in patent applications, there is a notable rise in big data-related deals and hiring, reflecting the growing importance of these technologies in the industry. The impact of big data extends beyond the consumer sector, influencing various industries. GlobalData’s big data market report provides comprehensive analysis of the market. Buy the report here.
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This article presents a quarterly round-up of the latest trends in the consumer industry regarding big data. It provides an overview of recent developments in big data-related deals, talent acquisition, and patent filings within the consumer industry.
Diverse applications of big data in consumer industry
Consumer companies are increasingly leveraging innovative big data technologies to enhance their operational efficiency and data management capabilities. Recent patents from Intel Corp highlight advancements in memory access and data compression techniques, which can significantly improve data processing speeds and storage efficiency. For instance, the development of a compression engine with configurable search depths allows for optimized data handling, while enhancements in cache memory management facilitate quicker access to pixel data. Additionally, blockchain technologies for workload attestation ensure data integrity and security. These innovations enable companies to harness large datasets more effectively, driving better decision-making and fostering competitive advantages in the rapidly evolving digital landscape.
The industry experienced a 26% decline in the number of big data-related patent applications in Q2 2024 compared with the previous quarter. On an annual basis, the number of big data-related patent applications in the consumer industry witnessed a drop of 23% compared with Q2 2023.
Strategic deal trends in big data in consumer industry
Consumer companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in big data. 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 big data in the consumer industry.
In Q2 2024, the number of big data-related deals in the consumer industry grew by 19% compared with Q2 2023. On a quarterly basis, there was 58% 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 20% drop compared with the previous quarter. On an annual basis, job postings also grew by 13%. Notably, management occupations, with a share of 20%, emerged as the top big data-related job roles within the consumer industry in Q2 2024, with new job postings drop by 0.22% quarter-on-quarter. Computer and mathematical occupations came in second with a share of 15% in Q2 2024, with new job postings dropping by 27% over the previous quarter. The other prominent big data roles include business and financial operations occupations with a 9% share in Q2 2024, and architecture and engineering occupations with a 4% share of new job postings.
PepsiCo, Arcelik, Reckitt Benckiser Group, British American Tobacco, and Petco Health and Wellness are among the top companies leading in big data hiring within the consumer industry.
Countries driving adoption of big data in consumer industry
The US is the leading country in big data adoption within the consumer industry, boasting the highest number of big data-related patents, jobs, and deals. Meanwhile, the UK, China, Canada and India also maintain significant positions in big data adoption within the consumer industry.
In conclusion, the consumer industry's investment in big data is rising, with a significant increase in strategic deals despite a drop in patent applications. The US leads in Big Data adoption, underscoring its pivotal role in advancing data-driven strategies within the sector.
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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.
