Assessing Technology Trends using Patent Data
Feb 04, 2019Exploring and identifying technology trends is critical for businesses to achieve a sustainable competitive advantage. Given the rapid pace of technological development, there is a need for data-driven methodologies that reduce the complexity of determining and understanding the emerging technology trends that impact a business. In this regard, while the importance of the input of domain experts will remain, there is an increasing emphasis on using various types of data including patent information for the identification of emerging technology trends.
Patents represent one of the most comprehensive repositories of technological information and its analysis can be used for the strategic assessment of companies and technologies. This approach provides a means of discovering technology trends and forecasting growth areas.Relecura’s advanced analytics modules make exploring technology trends simpler and more accurate. The technology trend analysis can be depicted in the form of graphs and tables, which show the trends in markets, technologies, competitors and development over a period of time. A granular analysis of a technology and its categories give a glimpse into the future trends, potential acquisition targets provide leading indicators of the changes in the technology landscape. A technology trend analysis can be used for,
- Identifying future trends
- Planning market expansion
- Securing a competitive advantage in the marketplace
- Scouting for acquisitions and partnerships
- Technology segments and sub-technologies that are emerging as key technologies in the AI space.
- The growth trend of the various AI technology segments in recent times.
- Companies that are emerging as new players in the AI space.
- The top players in implementing AI technologies and their specific focus.
- Potential acquisition targets with high-quality patents in AI technologies.