GURUGRAM, INDIA, July 29, 2020 /EINPresswire.com/ — As per a recent report titled “IoT: Driving the Patent Growth Story in India” from NASSCOM in collaboration with Sagacious IP, nearly 6,000 IoT patent families were filed in India during 2009-19, showing a substantial increase over the years. The major growth drivers for this emerging technology include increase in internet bandwidth and availability, sharp rise in usage of smartphones, rise in devices with built-in sensors, and decline in technology costs.
Over 5,000 IoT patent families have shown one or more depositions in the last five years indicating that this domain is still maturing with continuous innovation. It is also interesting to note that MNCs are leading the patent filings for the technology. These filings are expected to reach a higher growth trajectory owing to increase in IoT innovation along with growing need for automation in the post-COVID world. In terms of industrial application, Healthcare Industry and Automotive Sector lead the growing patent filing trend in IoT, showing that significant research is being done for implementation of the technology in these sectors.
IoT technology is predicted to help countries across the globe recover quickly in multiple ways in the post-COVID era. In the healthcare sector, the technology will enable remote patient monitoring and telehealth via smart wearables and other devices such as connected thermometers. Other sectors like public safety & security, manufacturing & supply chains and disaster prevention will also see a sharp rise in IoT implementation to achieve the ‘new normal’. For instance, the IoT networks will reshape the operations of the manufacturing and supply chain industry by monitoring health and safety of workers through sensor enabled protective gears, remotely monitoring automated machines, tracking location of goods, etc.
Highlighting the growing importance of IoT, Achyuta Ghosh, Head-Research NASSCOM, stated, “Innovation has become critical to achieve the new normal, with new technologies such as IOT, AI, Blockchain, Cloud and Analytics playing a crucial role. In order to track the key trends in innovation across these technologies, we have partnered with Sagacious IP and started tracking the patent filing trends in India, as stated in our report ‘IoT: Driving the Patent Growth Story in India’. The report focuses on patent filing trends in the IoT domain including major assignees, application areas, sub-technology areas and the road ahead. This is the first report focused on emerging technology patents filed in India, and we’re happy to partner with Sagacious IP to further expand this research charter to other technologies in the future.”
Sumit Prasad, Chief Innovation Officer (CIO) at Sagacious IP, who is leading the collaboration with NASSCOM to provide syndicated IP analysis and actionable insights from patent data on emerging digital technologies, stated, “We have already seen a significant rise in the IP filing in past 5 years jointly due to reinforced IP policy and GOI push in this matter. In the last 5 years, we have also noticed that Indian inventors are keen to file patent applications in the digital space as opposed to conventional domains. Besides this, it has also been observed that the strategic importance of Indian jurisdiction in IP strategy of R&D centres/CoEs of global MNCs, and these studies reinforce the adoption of this trend. The in-depth analysis portrayed through these reports would highlight the true landscape of Indian patent filing activities in these emerging technologies and would give readers a sense of technology shift and allow them to understand the innovation contributions from different section of the Industry. We are delighted to partner with NASSCOM to analyse the data and witness the true landscape of Indian patent filing activities in these emerging technologies.”
About Sagacious IP’s Association with NASSCOM
Sagacious IP has collaborated with NASSCOM for preparing various technology specific research reports to reveal the technology shift in Indian IP space. The content generated through these reports would help in acquainting readers about the technology shift and the level of innovation happening in various domains. Through this alliance, Sagacious IP will be supporting NASSCOM in creating patent-related content for the NASSCOM Community and will also be a part of running numerous IP-related workshops and programs to enhance IP awareness among SMEs/start-ups in India.
About Sagacious IP
Sagacious IP is one of the largest global IP research firm working with the world’s largest companies, law firms, institutions, research organizations and inventors to help them monetize, defend, and expand their patent portfolios and drive innovation within their industries. For more information visit: https://www.sagaciousresearch.com/
NASSCOM is the industry association for the IT-BPM sector in India. A not-for-profit organization funded by the industry, its objective is to build a growth led and sustainable technology and business services sector in the country with over 2,800 members. NASSCOM Research is the in-house research and analytics arm of NASSCOM generating insights and driving thought leadership for today’s business leaders and entrepreneurs to strengthen India’s position as a hub for digital technologies and innovation. For more information visit: https://community.nasscom.in/
Source: EIN Presswire