The Internet of Things is transforming the technology landscape, fueled by strategic investments driving deals, highlighting its pivotal role in technological progress. Though witnessing a decline in patent applications, this dynamic environment significantly impacts hiring trends, with notable growth observed in job postings, signaling an increasing demand for IoT expertise within the technology sector. The impact of IoT extends beyond the technology sector, influencing various industries. GlobalData’s Internet of Things market report provides comprehensive analysis of the market. Buy the report here.
This article presents a quarterly round-up of the latest trends in the technology industry regarding IoT. It provides an overview of recent developments in IoT-related deals, talent acquisition, and patent filings within the technology industry.
The industry experienced a 23% decline in the number of IoT-related patent applications in Q1 2024 compared with the previous quarter. On an annual basis, the number of IoT-related patent applications in the technology industry witnessed a drop of 11% compared with Q1 2023.
Strategic deal trends in internet of Things in technology industry
Technology companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in IoT. These investments aim to secure lucrative deals with partners and position themselves at the forefront of industry advancements. Some of the recent deals underscore the importance of IoT in the technology industry.
In Q1 2024, the number of IoT-related deals in the technology industry declined by 29% compared with Q1 2023. On a quarterly basis, there was 3% increase in the number of deals in Q1 2024 compared with the previous quarter.
Impact on hiring
In terms of new job posting, in Q1 2024, the technology industry experienced a 17% growth compared with the previous quarter. On an annual basis, job postings also declined by 29%. Notably, computer and mathematical occupations, with a share of 21%, emerged as the top IoT-related job roles within the technology industry in Q1 2024, with new job postings drop by 17% quarter-on-quarter. Management occupations came in second with a share of 15% in Q1 2024, with new job postings rising by 16% over the previous quarter. The other prominent IoT roles include architecture and engineering occupations with a 9% share in Q1 2024, and sales and related occupations with a 5% share of new job postings.
Samsung Electronics, Siemens, Orange, STMicroelectronics, and Renesas Electronics are among the top companies leading in IoT hiring within the technology industry.
Countries driving adoption of Internet of Things in technology industry
The US is the leading country in IoT adoption within the technology industry, boasting the highest number of IoT-related patents, jobs, and deals. Meanwhile, China, the UK, India and Japan also maintain significant positions in IoT adoption within the technology industry.
In conclusion, while IoT-related patent applications and deals experienced fluctuations, strategic investments remain crucial for industry advancement, reflecting in the shifting landscape of job postings. This underscores the ongoing demand for IoT expertise, driving innovation and growth within the technology sector.
To further understand GlobalData's analysis on internet of Things in the technology industry, buy the report 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 patent analytics tracks patent filings and grants across companies and themes. Proprietary databases on deals and job analytics are used to respectively monitor global deal activity and uncover insights from daily job postings to identify trends, company activities, and industry dynamics across different sectors globally.
