The global retail industry experienced a 29% decline in the number of internet of things-related patent applications in Q3 2022 compared with the previous quarter. The total number of internet of things-related grants dropped by 9% in Q3 2022, according to GlobalData’s whitepaper on Internet of Things in Retail – Patenting Activity in Q3 2022.

Notably, the number of internet of things-related patent applications in the retail industry was 161 in Q3 2022, versus 228 in the prior quarter.

The top five companies accounted for 14% of patenting activity

Analysis of patenting activity by companies shows that SES-imagotag filed the most internet of things patents within the retail industry in Q3 2022. The company filed 8 internet of things-related patents in the quarter, compared with 0 in the previous quarter. It was followed by Toshiba with 7 internet of things patent filings, Oshkosh (4 filings), and (2 filings) in Q3 2022.

Patenting activity was driven by the US with a 43% share of total patent filings

The largest share of internet of things related patent filings in the retail industry in Q3 2022 was in the US with 43%, followed by South Korea (6%) and China (6%). The share represented by the US was 14% higher than the 30% share it accounted for in Q2 2022.

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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.