The global technology industry experienced a 46% decline in the number of social media-related patent applications in Q3 2024 compared with the previous quarter. The total number of social media-related grants dropped by 5% in Q3 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Technology: 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 social media-related patent applications in the technology industry was 897 in Q3 2024, versus 1,674 in the prior quarter.
The top five companies accounted for 14% of patenting activity
Analysis of patenting activity by companies shows that Snap filed the most social media patents within the technology industry in Q3 2024. The company filed 63 social media-related patents in the quarter, compared with 49 in the previous quarter. It was followed by Tencent with 18 social media patent filings, Microsoft (17 filings), and Capital One Financial (15 filings) in Q3 2024.
Patenting activity was driven by the US with a 50% share of total patent filings
The largest share of social media related patent filings in the technology industry in Q3 2024 was in the US with 50%, followed by China (18%) and Japan (3%). The share represented by the US was 18% higher than the 33% share it accounted for in Q2 2024.
For further understanding of GlobalData's Technology: 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.
