Posting the highest gains in number of patent filings over the last five years, Hyundai Motor Co. has lessened the gap with automotive industry leader Toyota, stated Thomson Reuters IP & Science on Monday. The survey, analyzing global patent applications, revealed that technological advances in the field of telematics and driver assistance systems have gained popularity as the facilitator of future self-driving and connected cars.
The report, titled ‘The State of Innovation in the Automotive Industry 2015’, is an analysis of patent applications as well as mapped trends in five major fields namely navigation, propulsion, safety and security, handling, and entertainment.
Hyundai Motor Co. emerged as one of the leaders in each and every segment and has an overall ranking of the third place after Toyota Motor Corp. and Robert Bosch GmbH. Together with its sister firm Kia Motors, Hyundai ranked fifth in worldwide sales and has outpaced the total automotive market owing to its affordable and stylish car models. However, auto industry experts have noted that Hyundai as well as Kia Motors lack the technological edge that is needed to compete with its rivals.
Hyundai has always been a fast-follower in the auto industry and after gaining global significance over the past few years, it had witnessed a rise patent litigation. As reported by Thomson Reuters, the number of patent filings by Hyundai more than doubled from 500 in 2010 to 1,200 in 2013.
The State of Innovation in the Automotive Industry 2015 report shows that on the whole, Germans and Asians led the top 10 auto companies for patent applications. General Motors was the only U.S.-absed company on the list and held the seventh position.