Research and innovation in internet of things in the retail sector has declined in the last year.
The most recent figures show that the number of IoT related patent applications in the industry stood at 42 in the three months ending May – down from 89 over the same period in 2021.
Figures for patent grants related to IoT followed a similar pattern to filings – shrinking from 79 in the three months ending May 2021 to 71 in the same period in 2022.
The figures are compiled by GlobalData, who track patent filings and grants from official offices around the world. Using textual analysis, as well as official patent classifications, these patents are grouped into key thematic areas, and linked to key companies across various industries.
IoT is one of the key areas tracked by GlobalData. It has been identified as being a key disruptive force facing companies in the coming years, and is one of the areas that companies investing resources in now are expected to reap rewards from.
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The figures also provide an insight into the largest innovators in the sector.
NIKE Inc was the top IoT innovator in the retail sector in the latest quarter. The company, which has its headquarters in the United States, filed 12 IoT related patents in the three months ending May. That was down from 24 over the same period in 2021.
It was followed by the China based Alibaba Group Holding Ltd with 9 IoT patent applications, the United States based Amazon.com Inc (8 applications), and the United States based Walmart Inc (6 applications).