The global automotive industry experienced a 38% decline in the number of blockchain-related patent applications in Q4 2023 compared with the previous quarter. The total number of blockchain-related grants dropped by 19% 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 blockchain-related patent applications in the automotive industry was 151 in Q4 2023, versus 245 in the prior quarter.
The top five companies accounted for 21% of patenting activity
Analysis of patenting activity by companies shows that Toyota Motor filed the most blockchain patents within the automotive industry in Q4 2023. The company filed 9 blockchain-related patents in the quarter, compared with 3 in the previous quarter. It was followed by Denso with 7 blockchain patent filings, Ford Motor (6 filings), and State Farm Mutual Automobile Insurance (5 filings) in Q4 2023.
Patenting activity was driven by the US with a 70% share of total patent filings
The largest share of blockchain related patent filings in the automotive industry in Q4 2023 was in the US with 70%, followed by China (9%) and Germany (1%). The share represented by the US was 24% higher than the 46% 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.
