The global automotive industry experienced a 53% decline in the number of blockchain-related patent applications in Q3 2024 compared with the previous quarter. The total number of blockchain-related grants dropped by 0.81% in Q3 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Automotive: 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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Data Insights Automotive: Patents Trends Q3 2024

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Notably, the number of blockchain-related patent applications in the automotive industry was 145 in Q3 2024, versus 306 in the prior quarter.

The top five companies accounted for 33% of patenting activity

Analysis of patenting activity by companies shows that Toyota Motor filed the most blockchain patents within the automotive industry in Q3 2024. The company filed 16 blockchain-related patents in the quarter, compared with 25 in the previous quarter. It was followed by Zhejiang Geely Holding Group with 14 blockchain patent filings, State Farm Mutual Automobile Insurance (11 filings), and BASF (4 filings) in Q3 2024.

Patenting activity was driven by the US with a 49% share of total patent filings

The largest share of blockchain related patent filings in the automotive industry in Q3 2024 was in the US with 49%, followed by China (9%) and Germany (6%). The share represented by the US was 15% higher than the 34% share it accounted for in Q2 2024.

For further understanding of GlobalData's Automotive: Patents Trends Q3 2024, buy the databook here.

This content was updated on 15 October 2024

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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.