5000 IoT patents filed in India in 5 years; MNCs account for 70%, share of Indian companies low at 7%

In the last five years, there have been 5000 patents filed in India as compared to 1000 in the previous five years, a study has revealed.

According to a report titled, IoT: Driving the Patent Growth Story in India, by the National Association of Software and Services Companies (NASSCOM), there have been about 6,000 IoT Patents filed in India from 2009-2019 of which over 5,000 were filed in the last five years.

According to the report, while 70% of patents came from multinationals, 7% came from startups and 95% of IoT patents relate to hardware components. Around 60% of patents were filed by electronic manufacturers and 13% by IT-ITeS companies. Of all the IoT patents filed, 40% filed have been granted.