As per the Nasscom report, 70% of the entire IoT patent came from multinational companies and 7% from startups. They also discovered 95% of IoT patents are related to hardware components which help streamline the entire market in multiple ways.
A recent study revealed, in the last 5 years around 5000 patent filed in India, which was 1000 in the previous five years. According to a recent IoT report titled: Driving the Patent Growth Story in India by the National Association of Software and Services Companies (NASSCOM), from 2009-2019 approximately 6000 IoT patents have filed in India among which more than 5000 were filed in the last five years.
The report also revealed among the patent, around 60% were filed by electronic manufacturers and electronic ventures and 13% by the IT-ITeS companies. Among all the patent requests, already 40% have been granted.
President, NASSCOM DebjaniGhoshsaid, “Emerging technologies such as IoT, AI, Blockchain and others are playing a crucial role in enabling an interconnected world as well as creating the new normal." She further added, IoT innovations focusing on manufacturing and healthcare will be more beneficial in the new normal situation, which is continuously shifted to advanced technology.
Among the total IoT patents, around 70% are from R&D centers from around the globe, whereas startups account for around 7%. Most of the IoT patents are related to various fields of hardware and connectivity network. If we focus on the application areas, a lot of patents can be found from Smart Electrical Appliances, among which more than half are Smart wearable. Another two focused areas were disaster management and finding patent zero with the help of geographic information systems. Smart wrist bands are also designed to help combat spreading pandemic like coronavirus.
The report also suggests in the next few years; the patent will increase especially from the Healthcare Automation, Manufacturing 5G, and Security Systems.
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