• July 24, 2024

Tobacco Among Fastest Growing Technologies

 Tobacco Among Fastest Growing Technologies
Photo: Imperial Brands

Tobacco-related products were among the 10 fastest-growing technologies in 2022 when measured by the number of U.S. patents issued, according to IFI Claims Patent Services.

Philip Morris International, which is in the process of replacing its combustible cigarette business with less harmful smoking alternatives, was the most prolific claimant in the tobacco business, filing 1,364 cigarette patent applications in 2022.

South Korean electronics titan Samsung took the top spot from longtime leader IBM. Following Samsung and IBM, the top 10 patent earners were Taiwan Semiconductor, Huawei Technologies, Canon, LG Electronics, Qualcomm, Intel, Apple and Toyota Motor.

Technology related to autonomous vehicles ascended to the No. 1 spot among IFI’s Fastest-Growing Technologies list last year. While “Computing Based on Biological Models” dropped to No. 4 from its perch at No. 1 last year, artificial intelligence research has pervaded multiple patent categories, including earth drilling, quantum computers and machine learning.

Rounding out the top fastest-growing technologies were “Electrical Digital Data Processing,” with a compound annual growth rate (CAGR) of 33.9 percent; “Special Features Related to Earth Drilling Including AI and Simulation Models” (CAGR of 32.5 percent); “Computing Based on Biological Models” (CAGR of 32.1 percent); and “Electrically Operated Smoking Devices” (CAGR of 31.3 percent).

“Cigars, Cigarettes” registered a CAGR of 28.3 percent.