The global oil & gas industry experienced a 9% decline in the number of future of work-related patent applications in Q2 2023 compared with the previous quarter. The total number of future of work-related grants dropped by 13% in Q2 2023, according to GlobalData’s Patent Analytics. GlobalData’s Future of Work – Thematic Research report explains how the theme future of work is impacting the workforce across different sectors, it presents key technology, macroeconomic and regulatory trends, market size and growth forecasts for technologies that will play a key role in the theme. Buy the report here.
Notably, the number of future of work-related patent applications in the oil & gas industry was 654 in Q2 2023, versus 717 in the prior quarter.
The top five companies accounted for 32% of patenting activity
Analysis of patenting activity by companies shows that Halliburton filed the most future of work patents within the oil & gas industry in Q2 2023. The company filed 55 future of work-related patents in the quarter, compared with 42 in the previous quarter. It was followed by China Petrochemical with 53 future of work patent filings, BASF (36 filings), and Saudi Arabian Oil (35 filings) in Q2 2023.
Patenting activity was driven by the US with a 33% share of total patent filings
The largest share of future of work related patent filings in the oil & gas industry in Q2 2023 was in the US with 33%, followed by China (29%) and the UK (6%). The share represented by the US was 5% higher than the 29% share it accounted for in Q1 2023.
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