PCT achieves 5 million international applications in 47 years

On November 29, 2024, the 5 millionth PCT international application was born (WO2024242518 - IMAGE PROCESSING DEVICE AND IMAGE PROCESSING METHOD), and Samsung Electronics of South Korea achieved this honor. Since the implementation of the Patent Cooperation Treaty, PCT international applications have gone through 47 years by 2024. Samsung Electronics became the second largest applicant for PCT international applications in 2024 by submitting 4,000 patent applications.

PCT applications are often seen as a global indicator of innovation trends and are also seen as a global indicator of economic forecasts. Over the past decade, the use of the PCT by patent applicants has continued to increase. In 2023, the number of PCT applications in global patent application activity exceeds 3.5 million, and in 2024 it reaches 5 million. The continued growth in PCT applications indicates that the global economy will continue to remain optimistic.

How the PCT system works