The retail industry continues to be a hotbed of patent innovation. Activity is driven by cybersecurity and technology, and growing importance of technologies such as geofencing and cloud. In the last three years alone, there have been over 59,000 patents filed and granted in the retail industry, according to GlobalData’s report on Cybersecurity in retail: PoS geofencing. Buy the report here.

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Data Insights Cybersecurity in Retail: POS geofencing

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According to GlobalData’s Technology Foresights, which uses over 126,000 patents to analyze innovation intensity for the retail industry, there are 50+ innovation areas that will shape the future of the industry.

POS geofencing is a key innovation area in cybersecurity

Geofencing is a technology that sets virtual boundaries and triggers events when a mobile device with a certain software installed in it crosses the boundary. In terms of cybersecurity, geofencing can be employed to prevent users from a specific region from entering a company’s network and systems.

GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies. According to GlobalData, there are 60+ companies, spanning technology vendors, established retail companies, and up-and-coming start-ups engaged in the development and application of POS geofencing.

Key players in POS geofencing– a disruptive innovation in the retail industry

‘Application diversity’ measures the number of applications identified for each patent. It broadly splits companies into either ‘niche’ or ‘diversified’ innovators.

‘Geographic reach’ refers to the number of countries each patent is registered in. It reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.

Patent volumes related to POS geofencing

Company Total patents (2021 - 2023) Premium intelligence on the world's largest companies
Huawei Investment & Holding 53 Unlock Company Profile
China UnionPay 7 Unlock Company Profile
Mastercard 18 Unlock Company Profile
PayPal 32 Unlock Company Profile
ZTE 7 Unlock Company Profile
HTC 5 Unlock Company Profile
Visa 105 Unlock Company Profile
eBay 10 Unlock Company Profile
Thales 4 Unlock Company Profile
Thomson Reuters 7 Unlock Company Profile
Cubic 11 Unlock Company Profile
Alphabet 12 Unlock Company Profile
Capital One Financial 10 Unlock Company Profile
Siemens 7 Unlock Company Profile
Apple 39 Unlock Company Profile
JPMorgan Chase 9 Unlock Company Profile
NXP Semiconductors 4 Unlock Company Profile
Alibaba Group 53 Unlock Company Profile
Comcast 8 Unlock Company Profile
Bank of America 11 Unlock Company Profile
Commonwealth Bank of Australia 3 Unlock Company Profile
The Toronto-Dominion Bank 13 Unlock Company Profile
Nokia 9 Unlock Company Profile
American Express 7 Unlock Company Profile
Alico 7 Unlock Company Profile
Infineon Technologies 5 Unlock Company Profile
Telefonaktiebolaget LM Ericsson 5 Unlock Company Profile
SK 4 Unlock Company Profile
Sony Group 12 Unlock Company Profile
Advanced New Technologies 15 Unlock Company Profile
Amazon.com 23 Unlock Company Profile
Cisco Systems 4 Unlock Company Profile
IBM 4 Unlock Company Profile
STMicroelectronics 15 Unlock Company Profile
Walmart 7 Unlock Company Profile
FeliCa Networks 5 Unlock Company Profile
Eagency 8 Unlock Company Profile
Neology 5 Unlock Company Profile
Lookout 3 Unlock Company Profile
ItsOn 4 Unlock Company Profile
Princo 7 Unlock Company Profile
Samsung Group 16 Unlock Company Profile
Shenzhen Goodix Technology 8 Unlock Company Profile
LocatorX 5 Unlock Company Profile
Headwater Research 206 Unlock Company Profile
Xiaomi 15 Unlock Company Profile
Headwater Partners I 191 Unlock Company Profile
Monticello Enterprises 31 Unlock Company Profile
BioConnect 4 Unlock Company Profile
MC Familiengesellschaft 5 Unlock Company Profile

Source: GlobalData Patent Analytics

In terms of patents filed, leading players in the POS geofencing space are Headwater Research, Headwater Partners I, Visa, Alibaba, Huawei, Apple, PayPal, and Amazon.com. In July 2021, Amazon Web Services launched Amazon Location Service, which helps businesses enhance their own applications by adding location functionality. The service offers geofencing, maps, geocoding, and asset tracking.

In terms of application diversity, leading players in the POS geofencing space are BioConnect, LocatorX, Comcast, Eagency, and FeliCa Networks.

In terms of geographic reach, leading players in this space are Headwater Research, Headwater Partners I, Alibaba Group and Xiaomi.

Geofencing enables the generation of automatic alerts based on a geographic area’s defined coordinates. The technology can be used by retailers for advertising purposes.

To further understand the key themes and technologies disrupting the retail industry, access GlobalData’s latest thematic research report on Cybersecurity in Retail.

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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.