We’ve released our latest State of Innovation report today that analyzes global patent filing data over the last 5 years. The 2014 edition of the study, which tracks global patent volumes of 12 bellwether industries, charts hottest growth areas, the impact of emerging markets and nascent hotbeds of new economic growth, finds that the overall rate of innovation growth is now at its highest level since the Great Recession.
Following are some of the report’s key findings:
- Biggest Innovation Gains Since End of Recession: Total, worldwide patent volume increased 26% over the last year, with 11 of the 12 technology areas studied showing increases. All but one of the 11 gainers had double-digit growth.
- Automotive Safety, Energy Exploration and Smart Kitchen Appliances Drive Largest Gains: The Automotive, Petroleum, and Domestic Appliances technology areas had the greatest year-over-year increases, with each logging a 35% jump in worldwide patent volume over the prior period. Domestic Appliances ranked among the top three leaders for the second consecutive year. Safety-related innovation saw the greatest gains in the Automotive sector; while the Petroleum sector was driven by petroleum and gas exploration, drilling and processing.
- Emerging Markets & Academic Contributions on Upswing: Increased activity from China and Russia emphasizes the focus on innovation in these regions, as do increased activity on the part of universities and research institutions. More of such entities made it into the Top 10 regional lists than any year in the past.
- Computing & Peripherals Continue to Lead the Global Pack: The technology area with the largest overall global patent volume continues to be Computing & Peripherals, for the fifth consecutive year, with over 300,000 inventions over the past year. That’s more than double the innovation activity of the next nearest technology area: Telecommunications. All subsectors within Computing & Peripherals showed positive gains, a first since this report’s inception.
To read the full report, http://ip.thomsonreuters.com/sites/default/files/2014stateofinnovation.pdf