The global construction industry experienced 0.88% decline in the number of future of work-related patent applications in Q1 2023 compared with the previous quarter. The total number of future of work-related grants dropped by 20% in Q1 2023, according to GlobalData’s Patent Analytics. GlobalData’s Future of Work – Thematic Research report explains how the theme future of work is impacting the workforce across different sectors, it presents key technology, macroeconomic and regulatory trends, market size and growth forecasts for technologies that will play a key role in the theme. Buy the report here.
Notably, the number of future of work-related patent applications in the construction industry was 452 in Q1 2023, versus 456 in the prior quarter.
The top five companies accounted for 19% of patenting activity
Analysis of patenting activity by companies shows that Caterpillar filed the most future of work patents within the construction industry in Q1 2023. The company filed 33 future of work-related patents in the quarter, compared with 13 in the previous quarter. It was followed by Komatsu with 24 future of work patent filings, China State Shipbuilding (12 filings), and Hitachi (10 filings) in Q1 2023.
Patenting activity was driven by China with a 29% share of total patent filings
The largest share of future of work related patent filings in the construction industry in Q1 2023 was in China with 29%, followed by Japan (14%) and the US (7%). The share represented by China was 10% lower than the 39% share it accounted for in Q4 2022.
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