Cybersecurity is increasingly crucial in the consumer industry as companies adopt advanced technologies to protect sensitive data and ensure operational resilience. Innovations such as Intel’s secure processor architecture, Rakuten’s real-time drone management, and Signify’s secure lighting control systems are enhancing security and mitigating threats. Despite a recent decline in patent applications and job postings, strategic investments in cybersecurity continue to be a key focus for companies seeking to safeguard their assets and maintain consumer trust. The impact of cybersecurity extends beyond the consumer sector, influencing various industries. GlobalData’s cybersecurity market report provides comprehensive analysis of the market. Buy the report here.
This article presents a quarterly round-up of the latest trends in the consumer industry regarding cybersecurity. It provides an overview of recent developments in cybersecurity-related deals, talent acquisition, and patent filings within the consumer industry.
Diverse applications of cybersecurity in consumer industry
Consumer companies are leveraging innovative cybersecurity technologies to enhance their operational resilience and protect sensitive data. Recent patents highlight advancements such as Intel's secure processor architecture, which ensures authenticated code execution and protects secret data through enclaves, significantly reducing vulnerabilities. Rakuten's drone management system enhances security by monitoring inspection statuses in real-time, while Signify's controller method provides uninterrupted control in lighting networks, swiftly mitigating unauthorized access threats. These technologies not only bolster security measures but also streamline processes, enabling companies to safeguard their assets and maintain trust with customers in an increasingly digital landscape.
The industry experienced a 13% decline in the number of cybersecurity-related patent applications in Q2 2024 compared with the previous quarter. On an annual basis, the number of cybersecurity-related patent applications in the consumer industry witnessed a drop of 2% compared with Q2 2023.
Strategic deal trends in cybersecurity in consumer industry
Consumer companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in cybersecurity. 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 cybersecurity in the consumer industry.
In Q2 2024, the number of cybersecurity-related deals in the consumer industry declined by 4% compared with Q2 2023. On a quarterly basis, there was 13% 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 16% drop compared with the previous quarter. On an annual basis, job postings also declined by 5%. Notably, management occupations, with a share of 17%, emerged as the top cybersecurity-related job roles within the consumer industry in Q2 2024, with new job postings drop by 7% quarter-on-quarter. Computer and mathematical occupations came in second with a share of 16% in Q2 2024, with new job postings dropping by 18% over the previous quarter. The other prominent cybersecurity roles include business and financial operations occupations with a 9% share in Q2 2024, and office and administrative support occupations with a 4% share of new job postings.
Church & Dwight, Reckitt Benckiser Group, Danone, British American Tobacco, and Emerson Radio are among the top companies leading in cybersecurity hiring within the consumer industry.
Countries driving adoption of cybersecurity in consumer industry
The US is the leading country in cybersecurity adoption within the consumer industry, boasting the highest number of cybersecurity-related patents, jobs, and deals. Meanwhile, the UK, Canada, Singapore and France also maintain significant positions in cybersecurity adoption within the consumer industry.
In conclusion, although there has been a decrease in cybersecurity patent applications and job postings, the consumer industry remains committed to bolstering security through technological advancements. The US leads in cybersecurity adoption, underscoring its pivotal role in driving innovation and protecting the industry.
To further understand GlobalData's analysis on cybersecurity 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.
