Analysis of patent filings shows a shrinking level of IoT related applications in the industry over the past year
Research and innovation in internet of things in the packaging sector has declined in the last year.
The most recent figures show that the number of IoT related patent applications in the industry stood at nine in the three months ending February – down from 18 over the same period in 2021.
Figures for patent grants related to IoT followed a different pattern to filings – stagnating from one in the three months ending February 2021 to one in the same period in 2022.
The figures are compiled by GlobalData, who track patent filings and grants from official offices around the world. Using textual analysis, as well as official patent classifications, these patents are grouped into key thematic areas, and linked to key companies across various industries.
IoT is one of the key areas tracked by GlobalData. It has been identified as being a key disruptive force facing companies in the coming years, and is one of the areas that companies investing resources in now are expected to reap rewards from.
The figures also provide an insight into the largest innovators in the sector.
Toyo Seikan Group Holdings Ltd was the top IoT innovator in the packaging sector in the latest quarter. The company, which has its headquarters in Japan, filed five IoT related patents in the three months ending February. That was down from 16 over the same period in 2021.
It was followed by the United States based Domtar Corp with four IoT patent applications, the United Kingdom based DS Smith Plc (2 applications), and the United States based Avery Dennison Corp (1 applications).
Source: Packaging Gateway