The global retail industry experienced a 27% decline in the number of cybersecurity-related patent applications in Q1 2023 compared with the previous quarter. The total number of cybersecurity-related grants dropped by 24% in Q1 2023, according to GlobalData’s Patent Analytics. GlobalData’s Cybersecurity in Retail and Apparel – Thematic Research market report provides a detailed understanding of how Cybersecurity impacts the value chain in the Retail sector, and the leading Cybersecurity adopters and vendors in the market. Buy the report here.
Notably, the number of cybersecurity-related patent applications in the retail industry was 514 in Q1 2023, versus 708 in the prior quarter.
The top five companies accounted for 13% of patenting activity
Analysis of patenting activity by companies shows that MC Familiengesellschaft filed the most cybersecurity patents within the retail industry in Q1 2023. The company filed 18 cybersecurity-related patents in the quarter, compared with 2 in the previous quarter. It was followed by Capital One Financial with 17 cybersecurity patent filings, Alibaba Group (13 filings), and Mastercard (10 filings) in Q1 2023.
Patenting activity was driven by China with a 16% share of total patent filings
The largest share of cybersecurity related patent filings in the retail industry in Q1 2023 was in China with 16%, followed by the US (14%) and South Korea (14%). The share represented by China was 22% lower than the 38% share it accounted for in Q4 2022.
To further understand GlobalData's analysis on Cybersecurity in Retail and Apparel - Thematic Research buy the report 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.
