The global automotive industry experienced an 18% decline in the number of internet of things-related patent applications in Q1 2023 compared with the previous quarter. The total number of internet of things-related grants dropped by 40% in Q1 2023, according to GlobalData’s Patent Analytics. The growing application of Internet of Things will prove to have a transformative impact on the the Automotive sector. GlobalData’s Internet of Things (IoT) Market report helps keep abreast of the latest trends in Internet of Things, market opportunity forecast and the competitive landscape. Buy the report here.
Notably, the number of internet of things-related patent applications in the automotive industry was 684 in Q1 2023, versus 836 in the prior quarter.
The top five companies accounted for 23% of patenting activity
Analysis of patenting activity by companies shows that Qualcomm filed the most internet of things patents within the automotive industry in Q1 2023. The company filed 49 internet of things-related patents in the quarter, compared with 50 in the previous quarter. It was followed by LG with 40 internet of things patent filings, Huawei Investment (33 filings), and Telefonaktiebolaget LM Ericsson (17 filings) in Q1 2023.
Patenting activity was driven by China with a 28% share of total patent filings
The largest share of internet of things related patent filings in the automotive industry in Q1 2023 was in China with 28%, followed by South Korea (12%) and the US (9%). The share represented by China was 1% lower than the 29% share it accounted for in Q4 2022.
To further understand GlobalData's analysis on Internet of Things (IoT) Market Size, Share, Trends Analysis, and Segment Forecast 2021-2026 buy the report here.