In “Innovation Momentum 2024: The Global Top 100” LexisNexis uncovers which companies, industries and regions are driving innovation forward
NEW YORK, February 21, 2024 – Select companies in the pharmaceutical, semiconductor and information technology industries are pushing innovation at a remarkable pace, while new advances in the automotive industry are also driving innovation, according to new data measuring patent quality and quantity.
LexisNexis® Legal & Professional, a leading global provider of information and analytics, today released the third edition of its “Innovation Momentum: The Global Top 100” report. The annual study analyzes patent data to reveal how the pace and focus of innovation have evolved over the past two years. It identifies the top 100 companies that continue pushing boundaries in their respective fields by evaluating both the quality and volume of a company’s patents, differentiating between small, high-quality portfolios and large, well-maintained ones – an approach that allows recognition of genuine innovators that outperform their peers and push boundaries in their technology field.
Key Insights:
- Industry Distribution: The pharmaceuticals industry retains the top spot, with consistent innovation. Semiconductors hold second place with strong growth, building on pandemic-fueled needs for digital adoption. Meanwhile, the automotive industry contributes more strongly to the top 100 list than last year.
Table 1 The breakdown of the number of innovators by industry and region.
- AI Innovation Landscape: The report touches on the AI innovation landscape, showcasing companies like Nvidia and Juniper at the forefront of AI development. Juniper shows a steady portfolio increase with high quality patents being cited by Cisco, Huawei and Broadcom, making them an interesting acquisition target for Hewlett-Packard Enterprise.
- Advancements in Autonomous Driving: Companies like Aptiv and Tesla are highlighted for their focused efforts in autonomous driving and autonomous vehicle technologies. Tesla has increased its patent portfolio size by almost 14% within the last two years, developing high-quality patents that are referenced extensively by major players like Ford, Hyundai Motor, VW Group, Toyota, and others looking to build on Tesla’s innovations.
- Global Distribution of Innovators: S.-based companies excel in Pharmaceuticals and Information Technology, while Asia dominates in Electronics and Semiconductors, according to the new report. Notably, whereas China and Korea remain the Asian powerhouses, the inclusion of China’s Mainland companies dropped from 13 (last year) to only 7.
- New Entrants: The report introduces 24 new entrants to the list, including notable newcomers like German company ZEISS, provider of the glass for Apple’s new VR Vision Pro, and Japan- headquartered Daikin, which has put an emphasis on sustainability in their heating, ventilating, air conditioning and refrigerating (HVAC&R) innovations.
- Strategic Significance of Intellectual Property: The report acknowledges the strategic significance of intellectual property, exemplified by companies like IBM, which has transitioned to a value-driven approach in managing its patent portfolio.
- Qualitative Patent Strategies: Key companies such as CATL, Tempus Labs, and STMicroelectronics are identified for their innovative patent strategies, showcasing their unique
- Role of Smaller Companies: Smaller companies like Mirati Therapeutics and Splunk are recognized for their agility and niche expertise, which made them attractive M&A targets for Bristol-Meyers Squibb and Cisco, respectively.
- Academic Focus Areas: Academia’s focus on healthcare and chemistry is highlighted, with significant patent holdings in these areas by organizations like Broad Institute and Mass General Brigham, along with the rising importance of data analytics and AI in academic IT
“With technology rapidly redefining markets, success depends on tracking innovation trajectories and signals. For C-suite executives and investors alike, these data-driven innovation insights are indispensable for strategic planning and decision-making. The report highlights emerging innovation powerhouses across sectors that deserve a place on every corporate radar. Its insights also suggest potential partnerships and M&A opportunities that could shape competitive positioning.” said Marco Richter, Head of Global Customer Success for LexisNexis® Intellectual Property Solutions.
The full report is available for download at https://www.lexisnexisip.com/innovation-momentum-report.
It provides data-driven insights into the world’s leading innovators and the dynamics driving technology development.
About LexisNexis® Legal & Professional
LexisNexis® Legal & Professional provides legal, regulatory, and business information and analytics that help customers increase their productivity, improve decision-making, achieve better outcomes, and advance the rule of law around the world. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis® and Nexis® services. LexisNexis Legal & Professional, which serves customers in more than 150 countries with 11,300 employees worldwide, is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers.
About LexisNexis® Intellectual Property Solutions
LexisNexis® Intellectual Property Solutions bring clarity to innovation for businesses worldwide. We enable innovators to accomplish more by helping them make informed decisions, be more productive, comply with regulations, and ultimately achieve competitive advantage for their business. Our broad suite of workflow and analytics solutions (LexisNexis® PatentSight+™, LexisNexis Cipher™, LexisNexis® IPlytics™, LexisNexis PatentOptimizer®, LexisNexis PatentAdvisor®, and LexisNexis TotalPatent One®, LexisNexis® IP DataDirect), enables companies to be more efficient and effective at bringing meaningful innovations to our world. We are proud to directly support and serve these innovators in their endeavors to better humankind.
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