India Witnesses 6X Growth in Internet of Things (IoT) Patents over Last 5 Yrs
According to a recent NASSCOM report, India has witnessed six times growth in Internet of Things (IoT) patents over the last five years and more than 80% of these patents were related to applications related to “Industry 4.0”, which refers to the intelligent networking of machines and processes for industry
Nearly 6,000 IoT Patents were filed in India from 2009-2019, of which over 5,000 were filed in the last five years. Healthcare and Automobile Industry lead the patents race, said the report titled “IoT: Driving the Patent Growth Story in India”.
Over 70% of the total IoT patents came from from the R&D centres of MNCs while start-ups accounted for about 7% of such patents, the report further said.
Nearly 95% of IoT patents were relate to hardware components, with connectivity network and sensors being the leading sub-technologies.
Manufacturers of electronics and electrical equipments, semiconductor devices and computer and telecom equipments together accounted for over 60% of the IoT patents filed in India by business entities over 2009-19. The share for IT-ITeS companies stood at 13 per cent.
The NASSCOM report also said that patent filing will also see an increase in the coming years primarily driven by healthcare, automation, manufacturing and supply chain, 5G and security systems