The global automotive 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 8% 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.
Notably, the number of future of work-related patent applications in the automotive industry was 7,480 in Q3 2024, versus 12,567 in the prior quarter.
The top five companies accounted for 13% of patenting activity
Analysis of patenting activity by companies shows that Toyota Motor filed the most future of work patents within the automotive industry in Q3 2024. The company filed 379 future of work-related patents in the quarter, compared with 609 in the previous quarter. It was followed by Robert Bosch Stiftung with 181 future of work patent filings, Ford Motor (138 filings), and Porsche Automobil Holding (135 filings) in Q3 2024.
Patenting activity was driven by the US with a 25% share of total patent filings
The largest share of future of work related patent filings in the automotive industry in Q3 2024 was in the US with 25%, followed by China (25%) and Japan (8%). The share represented by the US was 7% higher than the 18% share it accounted for in Q2 2024.
For further understanding of GlobalData's Automotive: Patents Trends Q3 2024, buy the databook here.
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