The global construction industry experienced a 30% decline in the number of future of work-related patent applications in Q4 2023 compared with the previous quarter. The total number of future of work-related grants dropped by 2% in Q4 2023, according to GlobalData’s Patent Analytics. GlobalData’s databook Construction: Patents Trends Q4 2023 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 future of work-related patent applications in the construction industry was 465 in Q4 2023, versus 669 in the prior quarter.

The top five companies accounted for 28% of patenting activity

Analysis of patenting activity by companies shows that Caterpillar filed the most future of work patents within the construction industry in Q4 2023. The company filed 47 future of work-related patents in the quarter, compared with 43 in the previous quarter. It was followed by Hitachi with 29 future of work patent filings, VKR Holding (21 filings), and State-owned Assets Supervision and Administration Commission of the State Council (18 filings) in Q4 2023.

Patenting activity was driven by China with a 27% share of total patent filings

The largest share of future of work related patent filings in the construction industry in Q4 2023 was in China with 27%, followed by the US (25%) and Japan (6%). The share represented by China was 18% lower than the 45% share it accounted for in Q3 2023.

For further understanding of GlobalData's Construction: Patents Trends Q4 2023, buy the databook here.

This content was updated on 23 January 2024

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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.