The global banking & payments industry experienced a 43% decline in the number of ecommerce-related patent applications in Q1 2023 compared with the previous quarter. The total number of ecommerce-related grants dropped by 29% in Q1 2023, according to GlobalData’s Patent Analytics. GlobalData’s Business to Consumer (B2C) eCommerce Market Size, Share, Trends, and Segment Forecast to 2026 report offers a thorough analysis of the global B2C eCommerce market, segmentation and forecast by payment methods and region, and the current competitive landscape. Buy the report here.
Notably, the number of ecommerce-related patent applications in the banking & payments industry was 879 in Q1 2023, versus 1,554 in the prior quarter.
The top five companies accounted for 18% of patenting activity
Analysis of patenting activity by companies shows that Coupang filed the most ecommerce patents within the banking & payments industry in Q1 2023. The company filed 83 ecommerce-related patents in the quarter, compared with 139 in the previous quarter. It was followed by Capital One Financial with 25 ecommerce patent filings, China Investment (23 filings), and Toshiba (15 filings) in Q1 2023.
Patenting activity was driven by South Korea with a 19% share of total patent filings
The largest share of ecommerce related patent filings in the banking & payments industry in Q1 2023 was in South Korea with 19%, followed by the US (19%) and China (18%). The share represented by South Korea was 8% higher than the 11% share it accounted for in Q4 2022.
For further understanding of GlobalData's Business to Consumer (B2C) eCommerce Market Size, Share, Trends, and Segment Forecast to 2026 buy the report here.