The global construction industry experienced a 15% decline in the number of cybersecurity-related patent applications in Q2 2024 compared with the previous quarter. The total number of cybersecurity-related grants dropped by 22% in Q2 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Construction: Patents Trends Q2 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.
Notably, the number of cybersecurity-related patent applications in the construction industry was 64 in Q2 2024, versus 75 in the prior quarter.
The top five companies accounted for 63% of patenting activity
Analysis of patenting activity by companies shows that Assa Abloy filed the most cybersecurity patents within the construction industry in Q2 2024. The company filed 22 cybersecurity-related patents in the quarter, compared with 30 in the previous quarter. It was followed by Allegion with 9 cybersecurity patent filings, Komatsu (3 filings), and Hitachi (3 filings) in Q2 2024.
Patenting activity was driven by the US with a 39% share of total patent filings
The largest share of cybersecurity related patent filings in the construction industry in Q2 2024 was in the US with 39%, followed by China (17%) and Australia (9%). The share represented by the US was 0.94% lower than the 40% share it accounted for in Q1 2024.
For further understanding of GlobalData's Construction: Patents Trends Q2 2024, buy the databook here.
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