The global construction industry experienced a 15% decline in the number of cybersecurity-related patent applications in Q3 2024 compared with the previous quarter. The total number of cybersecurity-related grants dropped by 20% in Q3 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Construction: Patents Trends Q3 2024 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years.
Notably, the number of cybersecurity-related patent applications in the construction industry was 71 in Q3 2024, versus 84 in the prior quarter.
The top five companies accounted for 68% of patenting activity
Analysis of patenting activity by companies shows that filed the most cybersecurity patents within the construction industry in Q3 2024. The company filed 25 cybersecurity-related patents in the quarter, compared with 32 in the previous quarter. It was followed by with 15 cybersecurity patent filings, AB Volvo (3 filings), and KONE (3 filings) in Q3 2024.
Patenting activity was driven by the US with a 55% share of total patent filings
The largest share of cybersecurity related patent filings in the construction industry in Q3 2024 was in the US with 55%, followed by Australia (11%) and China (4%). The share represented by the US was 24% higher than the 31% share it accounted for in Q2 2024.
For further understanding of GlobalData's Construction: Patents Trends Q3 2024,
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