According to data from IFI Claims Patent Services, tobacco-related products, especially electronic cigarettes and heated non-combustible products, are one of the top 10 fastest growing technologies in terms of US patent grants in 2022.
Philip Morris International (PMI) is replacing its combustible cigarette business with less harmful alternatives, specifically in the "electronic cigarette/tobacco business." PMI is currently the leading company in this field, having submitted 1,364 patent applications in 2022.
Samsung, a South Korean electronics giant, has overtaken longtime leader IBM to claim the top spot in patent ownership. Following Samsung and IBM, the top eight patent holders in order are Taiwan Semiconductor Manufacturing Company, Huawei, Canon, LG Electronics, Qualcomm, Intel, Apple, and Toyota Motor Corporation.
The fastest growing technologies listed are electric digital data processing with a compound annual growth rate of 33.9%, specialized features related to Earth drilling such as artificial intelligence and simulation models with a 32.5% compound annual growth rate, computing based on biological models with a compound annual growth rate of 32.1%, and electric smoking devices with a 31.3% compound annual growth rate.
The compound annual growth rate for cigars and cigarettes is 28.3%.
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