According to data from global IP research and consultancy firm Sagacious IP, Intellectual Property(IP) regime in India is exploding with patent applications.
Findings:
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Domestic and global companies in emerging technologies have filed over 80,000 applications in India between 2016 and 2020.
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Areas: Around 70% of all technology patents have been filed in areas ranging from Artificial Intelligence (AI), the Internet of Things (IoT), and big data to cloud, Edge, cybersecurity, and real time processing.
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Patents in Artificial Intelligence (AI): AI accounted for 6% of all emerging technology patents filed in the last five years. Consumer electronics, personal computing devices and healthcare are the key focus areas for patents in India in AI.
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Patents in Internet of Things (IoT): In the IoT space, around 5,300 patents were filed in India in the last decade. But 87% of these patents were filed only in 2016-2020. Among them, 40% of the patents filed in IoT in India originated in the US, followed by India with 33%.
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Vehicle Infotainment (electric vehicles): China filed the highest number of patents in the last five years in this sector. It was followed by US, India and Taiwan.
What can be inferred from the increase in patents in India in emerging technologies?
India is being seen as an important market at par with the US and China in areas like AI, IoT, and electric vehicle technology. Hence, that’s why more patents will be filed in India in the coming years.