(14 January 2021) IP activity in Asia has undergone two unmistakable shifts in recent years, both spearheaded by Mainland China. The first has progressed over the long-term and seen Asia become a global innovation hub and take the lead in global patent filings. The second shift, which has taken place much more rapidly, concerns a pivot away from patent quantity towards patent quality.
A recent report from McKinsey & Company uses Clarivate data to explore Asia’s impressive technological transformation over the past decade according to a number of measures, including IP creation and strength.
McKinsey used Innography from CPA Global, part of Clarivate, to delve into the IP data to uncover 10 technologies where Asia holds a higher than average share of ‘globally impactful’ patents – four of which also attract a higher than average level of start-up investment: mobile services, AI, Internet of Things and manufacturing equipment. It found that from 2016 to 2018 Asia represented 87% of global patent growth, with Mainland China alone accounting for 45% of the world’s patents during this period.
This IP analysis reveals Asia’s increasingly strong position in high-growth technologies, but as we found in our 2020 report there are further signals that innovation and IP in Asia is swiftly maturing.
Clarivate has the full story by Vasheharan Kanesarajah here.