The global tourism industry experienced a 10% decline in patent filings in Q2 2023 compared with the previous quarter. The total number of grants rose by 28%, resulting in overall patent publications decreasing by 10.9%, according to GlobalData’s Patent Analytics. GlobalData’s Online Travel Market Analysis report offers comprehensive market sizing, in-depth segmentation and competitive profiling. It includes insights on growth trends and detailed value chain analysis. Buy the report here.
Notably, the number of patent applications in the tourism industry was 570 in Q2 2023, versus 640 in the prior quarter. Filings were down 44% year-on-year and decrease 10% quarter-on-quarter. This compares to a 44% year-on-year decrease in patent grants and 10% decline in quarter-on-quarter.
Most patenting activity has been in the BPM Solutions sector, where the number of patents filed Q1 2023 was 441, a drop of 2% versus the previous quarter. The second-largest patent count was in IT Services (192, down 3%) and then e-commerce in third (174, down 10%).
The top five companies accounted for 8% of patenting activity
Patenting activity was driven by the US with a 26% share of total patent filings
The largest share of patent filings in the tourism industry in Q2 2023 was in the US with 26%, followed by China (23%) and South Korea (22%). The share represented by the US was 1% lower than the 28% share it accounted for in Q1 2023.
For further understanding of GlobalData's Online Travel Market Analysis and Segment Forecast, 2023-2030, buy the report here.