The global retail industry experienced a 49% decline in the number of blockchain-related patent applications in Q3 2022 compared with the previous quarter. The total number of blockchain-related grants dropped by 8% in Q3 2022, according to GlobalData’s Patent Analytics.
Notably, the number of blockchain-related patent applications in the retail industry was 186 in Q3 2022, versus 362 in the prior quarter.
The top five companies accounted for 10% of patenting activity
Analysis of patenting activity by companies shows that International Business Machines filed the most blockchain patents within the retail industry operations and technologies sector in Q3 2022. The company filed 5 blockchain-related patents in the quarter, compared with 3 in the previous quarter. It was followed by Mythical Venture with 4 blockchain patent filings, Ghostwarp (4 filings), and Coinplug (3 filings) in Q3 2022.
Patenting activity was driven by the US with a 45% share of total patent filings
The largest share of blockchain related patent filings in the retail industry in Q3 2022 was in the US with 45%, followed by South Korea (12%) and Australia (2%). The share represented by the US was 16% higher than the 28% share it accounted for in Q2 2022.