The global tourism industry experienced a 26% decline in patent filings in Q3 2023 compared with the previous quarter. The total number of grants dropped by 10%, resulting in overall patent publications decreasing by 26.2%, according to GlobalData’s Patent Analytics. GlobalData’s databook Travel & Tourism: Patents Trends Q3 2023 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.
Notably, the number of patent applications in the tourism industry was 598 in Q3 2023, versus 810 in the prior quarter. Filings were down 39% year-on-year and decrease 26% quarter-on-quarter. This compares to a 39% year-on-year decrease in patent grants and 26% decline in quarter-on-quarter.
Most patenting activity has been in the Hotels & Resorts sector, where the number of patents filed Q2 2023 was 290, a drop of 4% versus the previous quarter. The second-largest patent count was in Travel Intermediaries (149, up 6%) and then Lodging in third (52, down 61%).
The top five companies accounted for 8% of patenting activity
Analysis of patenting activity by companies shows that the largest number of patents filed over the last quarter was by NEC with 15, followed by China Southern Airlines with 9 and Panasonic with 9.
Patenting activity was driven by China with a 35% share of total patent filings
The largest share of patent filings in the tourism industry in Q3 2023 was in China with 35%, followed by the US (23%) and South Korea (11%). The share represented by China was 3% lower than the 37% share it accounted for in Q2 2023.
For further understanding of GlobalData's Travel & Tourism: Patents Trends Q3 2023, buy the databook here.