The global retail industry experienced a 30% decline in the number of blockchain-related patent applications in Q3 2024 compared with the previous quarter. The total number of blockchain-related grants dropped by 5% in Q3 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Retail: Patents Trends Q3 2024 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.
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Notably, the number of blockchain-related patent applications in the retail industry was 416 in Q3 2024, versus 595 in the prior quarter.
The top five companies accounted for 14% of patenting activity
Analysis of patenting activity by companies shows that nChain filed the most blockchain patents within the retail industry in Q3 2024. The company filed 18 blockchain-related patents in the quarter, compared with 25 in the previous quarter. It was followed by American Express with 12 blockchain patent filings, Mastercard (11 filings), and State Farm Mutual Automobile Insurance (10 filings) in Q3 2024.
Patenting activity was driven by the US with a 52% share of total patent filings
The largest share of blockchain related patent filings in the retail industry in Q3 2024 was in the US with 52%, followed by China (7%) and Japan (4%). The share represented by the US was 14% higher than the 38% share it accounted for in Q2 2024.
For further understanding of GlobalData's Retail: Patents Trends Q3 2024, buy the databook here.
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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.
