The global retail industry experienced a 41% decline in the number of cybersecurity-related patent applications in Q2 2023 compared with the previous quarter. The total number of cybersecurity-related grants dropped by 24% in Q2 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 417 in Q2 2023, versus 703 in the prior quarter.

The top five companies accounted for 21% of patenting activity

Analysis of patenting activity by companies shows that Capital One Financial filed the most cybersecurity patents within the retail industry in Q2 2023. The company filed 33 cybersecurity-related patents in the quarter, compared with 39 in the previous quarter. It was followed by Visa with 17 cybersecurity patent filings, Mastercard (17 filings), and Alibaba Group (10 filings) in Q2 2023.

Patenting activity was driven by the US with a 64% share of total patent filings

The largest share of cybersecurity related patent filings in the retail industry in Q2 2023 was in the US with 64%, followed by China (10%) and Japan (5%). The share represented by the US was 11% higher than the 53% share it accounted for in Q1 2023.

To further understand GlobalData's analysis on Cybersecurity in Retail and Apparel - Thematic Research buy the report here.

This content was updated on 2 August 2023

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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.