The global automotive industry experienced a 27% decline in the number of future of work-related patent applications in Q4 2023 compared with the previous quarter. The total number of future of work-related grants dropped by 8% in Q4 2023, according to GlobalData’s Patent Analytics. GlobalData’s databook Automotive: Patents Trends Q4 2023 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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Notably, the number of future of work-related patent applications in the automotive industry was 8,275 in Q4 2023, versus 11,391 in the prior quarter.
The top five companies accounted for 12% 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 Q4 2023. The company filed 308 future of work-related patents in the quarter, compared with 407 in the previous quarter. It was followed by Robert Bosch Stiftung with 233 future of work patent filings, Hyundai Motor (164 filings), and Honda Motor (149 filings) in Q4 2023.
Patenting activity was driven by China with a 30% share of total patent filings
The largest share of future of work related patent filings in the automotive industry in Q4 2023 was in China with 30%, followed by the US (22%) and Japan (10%). The share represented by China was 10% lower than the 40% share it accounted for in Q3 2023.
For further understanding of GlobalData's Automotive: Patents Trends Q4 2023, buy the databook here.
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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.
