Research and innovation in industrial automation in the banks, payment providers, cards programmes and processors sector has declined in the last year.
The most recent figures show that the number of industrial automation related patent applications in the industry stood at 16 in the three months ending June – down from 26 over the same period in 2021.
Figures for patent grants related to industrial automation followed a similar pattern to filings – shrinking from 34 in the three months ending June 2021 to 29 in the same period in 2022.
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.
Industrial automation 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.
The figures also provide an insight into the largest innovators in the sector.
BNP Paribas SA was the top industrial automation innovator in the banks, payment providers, cards programmes and processors sector in the latest quarter. The company, which has its headquarters in France, filed 4 industrial automation related patents in the three months ending June. That was up from 0 over the same period in 2021.
It was followed by the United States based Capital One Financial Corp with 4 industrial automation patent applications, the United States based Mastercard Inc (2 applications), and Sweden based Skandinaviska Enskilda Banken AB (2 applications).