Research and innovation in internet of things in the major banks, central banks, and non-bank competitors sector has declined in the last year.

The most recent figures show that the number of IoT patent applications in the industry stood at 27 in the three months ending November – down from 33 over the same period last year.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Figures for patent grants related to IoT followed a similar pattern to filings – shrinking from 32 in the three months ending November last year to 20 this year.

The figures are compiled by GlobalData, who track patent filings and grants from official offices around the world. Using textual analysis, as well as official patent classifications, these patents are grouped into key thematic areas, and linked to key companies across various industries.

IoT is one of the key areas tracked by GlobalData. It has been identified as being a key disruptive force facing companies in the coming years, and is one of the areas that companies investing resources in now are expected to reap rewards from.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The figures also provide an insight into the largest innovators in the sector.

Capital One Financial Corp was the top internet of things innovator in the major banks, central banks, and non-bank competitors sector in the last quarter. The company, which has its headquarters in the United States, filed 30 IoT related patents in the three months ending November. That was up from 14 over the same period last year.

It was followed by the United States based Bank of America Corp with 12 IoT patent applications, the United States based PayPal Holdings Inc (8 applications), and the United States based The Hartford Financial Services Group Inc (6 applications).

Capital One Financial Corp has recently ramped up R&D in internet of things. It saw growth of 53.3% in related patent applications in the three months ending November compared to the same period last year - the highest percentage growth out of all companies tracked with more than 10 quarterly patents in the major banks, central banks, and non-bank competitors sector.