The global aerospace, defence & security industry experienced a 25% 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 37% in Q1 2023, according to GlobalData’s Patent Analytics. The growing application of Internet of Things will prove to have a transformative impact across multiple sectors. 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 aerospace, defence & security industry was 33 in Q1 2023, versus 44 in the prior quarter.
The top four companies accounted for 33% of patenting activity
Analysis of patenting activity by companies shows that Korea Institute of Industrial Technology (KITECH) filed the most internet of things patents within the aerospace, defence & security industry in Q1 2023. The company filed 8 internet of things-related patents in the quarter. It was followed by HD Hyundai with 1 internet of things patent filing, Telefonaktiebolaget LM Ericsson (1 filing), and Qualcomm (1 filing) in Q1 2023.
Patenting activity was driven by South Korea with a 30% share of total patent filings
The largest share of internet of things related patent filings in the aerospace, defence & security industry in Q1 2023 was in South Korea with 30%, followed by the UK (6%) and China (3%). The share represented by South Korea was 28% higher than the 2% 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.