The global technology industry experienced a 51% decline in the number of blockchain-related patent applications in Q3 2024 compared with the previous quarter. The total number of blockchain-related grants rose by 11% 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 blockchain-related patent applications in the technology industry was 1,755 in Q3 2024, versus 3,618 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 technology industry in Q3 2024. The company filed 129 blockchain-related patents in the quarter, compared with 140 in the previous quarter. It was followed by Tencent with 36 blockchain patent filings, Mastercard (36 filings), and Bank of America (33 filings) in Q3 2024.
Patenting activity was driven by the US with a 46% share of total patent filings
The largest share of blockchain related patent filings in the technology industry in Q3 2024 was in the US with 46%, followed by China (13%) and Japan (5%). The share represented by the US was 22% higher than the 24% 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.
