The global automotive industry experienced a 32% decline in the number of internet of things-related patent applications in Q2 2023 compared with the previous quarter. The total number of internet of things-related grants dropped by 23% in Q2 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 609 in Q2 2023, versus 896 in the prior quarter.
The top five companies accounted for 14% of patenting activity
Analysis of patenting activity by companies shows that Huawei Investment filed the most internet of things patents within the automotive industry in Q2 2023. The company filed 34 internet of things-related patents in the quarter, compared with 43 in the previous quarter. It was followed by Koninklijke Philips with 15 internet of things patent filings, Telefonaktiebolaget LM Ericsson (14 filings), and Robert Bosch Stiftung (13 filings) in Q2 2023.
Patenting activity was driven by the US with a 54% share of total patent filings
The largest share of internet of things related patent filings in the automotive industry in Q2 2023 was in the US with 54%, followed by China (25%) and Japan (5%). The share represented by the US was 4% higher than the 50% share it accounted for in Q1 2023.
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.