Patent applications grow 13.6% in FY22, highest in a decade: Nasscom report
- IBEF
- April 27, 2023
According to a report by Nasscom, India has an enormous rise in patent filings in FY2022, with a year-on-year increase of 13.6% - the largest yearly increase in the recent decade. According to the research "Unpacking India's IP Ecosystem for an Innovation-led Future," the rapid advancement of new technologies is fuelling innovation and the introduction of fresh approaches in several different sectors. The study examines 584,000 patents that were filed in India between 2010 and 2022.
Globally, 3.4 million documents were filed in 2021. In 2021, the China Patent Office received 1.59 million applications, more than twice as much as the US Patent Office.
Blockchain-related patents are expanding at the fastest rate between 2010 and 2022, with AI rising at 17% and IoT growing at more than 15%. India ranks 6th in patent applications, with 61,573 applications filed in 2021, accounting for 1.8% of total patent applications filed worldwide in 2021.
50%+ of the technology patents were from the AI, IoT, Big Data, Cybersecurity, and Blockchain domains. 2.4% of all patents submitted in the telecommunications sector were relevant to developing areas of 5G and 6G. Domestic players submitted 44.4% of all patents in FY22, as compared to 41.6% in FY21.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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