The global retail industry experienced a 54% decline in the number of future of work-related patent applications in Q2 2023 compared with the previous quarter. The total number of future of work-related grants dropped by 34% in Q2 2023, according to GlobalData’s Patent Analytics. GlobalData’s Future of Work in Retail and Apparel – Thematic Intelligence report details the relevant trends, competitive landscape and market size and growth forecasts with information on related mergers and acquisitions related to future of work theme in the retail and apparel market. Buy the report here.

Notably, the number of future of work-related patent applications in the retail industry was 184 in Q2 2023, versus 399 in the prior quarter.

The top five companies accounted for 22% of patenting activity

Analysis of patenting activity by companies shows that Unlikely Artificial Intelligence filed the most future of work patents within the retail industry in Q2 2023. The company filed 17 future of work-related patents in the quarter. It was followed by Strong Force Iot Portfolio 2016 with 8 future of work patent filings, Coupang (6 filings), and NIKE (5 filings) in Q2 2023.

Patenting activity was driven by the US with a 62% share of total patent filings

The largest share of future of work related patent filings in the retail industry in Q2 2023 was in the US with 62%, followed by China (20%) and Japan (7%). The share represented by the US was 16% higher than the 46% share it accounted for in Q1 2023.

For further understanding of GlobalData's Future of Work in Retail and Apparel - Thematic Intelligence 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.