As per GlobalData’s Patent Statistics and Analysis Q3 2022 report, the number of patent filings and grants decreased in Q3’22 which is also reflected in the number of filings and grants from top patent offices such as China, the US, Japan, Europe, and Korea.
The decline could be attributed to the COVID-19 pandemics’ after-effects on the global economic slowdown.
China has seen a decline in patent grants compared to its patent filings, which could be attributable to the meticulous patent examination mandated by the patent office's "Annual Guidelines for Facilitating High-Quality Development of Intellectual Property 2022" policy.
According to the World Economic Outlook Report from October 2022, global growth slowed down in 2021 and is anticipated to slow down further in 2022 with inflation higher than that is seen in several decades.
This effect is evident in the patent filings by Asian tech behemoths such as Huawei, Samsung, LG, Canon, Mitsubishi, and Beijing Electronics.
According to GlobalData’s Patent Statistics and Analysis Q3 2022 report, AI adoption by several industries, from self-driving cars to life-saving medical equipment, led to its 29% growth.
Retail witnessed 13% of the AAGR. Digitalization and e-commerce technologies dominate the retail sector, accounting for 73% of the total retail patent filings.
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