The global retail industry experienced a 15% decline in the number of cybersecurity-related patent applications in Q4 2023 compared with the previous quarter. The total number of cybersecurity-related grants dropped by 2% in Q4 2023, according to GlobalData’s Patent Analytics. GlobalData’s databook Retail: 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.
Notably, the number of cybersecurity-related patent applications in the retail industry was 831 in Q4 2023, versus 973 in the prior quarter.
The top five companies accounted for 17% of patenting activity
Analysis of patenting activity by companies shows that Capital One Financial filed the most cybersecurity patents within the retail industry in Q4 2023. The company filed 80 cybersecurity-related patents in the quarter, compared with 73 in the previous quarter. It was followed by Mastercard with 20 cybersecurity patent filings, Visa (18 filings), and nChain (14 filings) in Q4 2023.
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Patenting activity was driven by the US with a 45% share of total patent filings
The largest share of cybersecurity related patent filings in the retail industry in Q4 2023 was in the US with 45%, followed by China (9%) and Japan (4%). The share represented by the US was 7% higher than the 38% share it accounted for in Q3 2023.
For further understanding of GlobalData's Retail: Patents Trends Q4 2023, buy the databook here.
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