China will become top patent filer in just 3 years—UN report – Research Snipers

China will become top patent filer in just 3 years—UN report

China is on the hot seat currently to become the world leader in international Patent filings, the United States held this position for long seems tumbling now, According to United Nations, “China will surpass international patent filings, leaving the U.S. behind within next three years.” UN said it on Wednesday. After the report now there is no doubt that China will become top patent filer in 3 years which is around the corner.

The annual report by World Intellectual Property Organization (WIPO) reads, a record 243,500 international patents were filed during the last year; there was 4.5 percent increase in patent filings as compared to the previous period. The most of the patents are coming from the new technology arising in the world, Francis Gurry, WIPO Chief said in a statement.

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However, U.S. remained at the top, the country is holding on to this position for the last four decades, the individuals and companies from America filled 56,624 applications a quarter of the global total. But this hegemony seems to become cloudy now, China is gaining the momentum stronger than ever before. China has beaten Japan already on the list to become the second largest patent filer, Chinese contribution also lead to a global increase. There were a total of 48,882 international patents filed by Chinese individuals and companies last year which was up by 13.4 percent as compared to the year earlier, UN said.

China is the only country which showed double-digit growth in patent applications, the country has recorded more than 10 percent growth every year since 2003. According to Gurry, China has been transformed into a producer of technology largely from being a user of technology during the past decade.

Huawei and ZTE leading the Patent filings

China is increasingly becoming a tough competitor in technology for western companies, however, the rise of China in technology doesn’t necessarily mean the decline of others in the industry—Said Gurry. Two Chinese telecom companies have topped the global ranking for filing patents, Huawei becomes the top company by filing 4024 patent applications while ZTE Corporation is the second one with filing 2965 patent applications.

Intel Corporation from the United States stays at the third position with 2637 patents and Mitsubishi Electric Company of Japan stood at number 4 with 2521 patents. The geography of innovation is being shifted and half of the international patents are now originating from East Asia—he added.