Here Are the Companies Driving US Innovation
Insights from Revelio Labs' new Employee-Linked Patents Data
Revelio Labs has recently launched Employee-Linked Patents, a dataset that links our workforce data to patent data from the United States Patent and Trademark Office. This new dataset allows us to identify companies and industries that are at the forefront of innovation and to better understand the career paths that lead to becoming an inventor.
Electronics manufacturing is the leading sector in total patents granted in 2024: Almost 30% of all patents granted in 2024 are assigned to companies in this space. Among companies, semiconductor manufacturers such as Samsung, TSMC, and Qualcomm are the leading innovators.
Finance is the fastest growing sector in terms of innovation: Between 2014 and 2024, the number of patents assigned to financial institutions has more than doubled. Artificial intelligence and machine learning are at the forefront of financial innovation.
Innovation is the engine of economic growth in the United States, driving competition, creating jobs, and shaping the future of entire industries. From groundbreaking pharmaceuticals to cutting-edge artificial intelligence, the ability to invent and adapt remains a key advantage for companies operating in an increasingly fast-paced global market.
At Revelio Labs, we've just launched Employee-Linked Patents, a new dataset that connects USPTO patent filings with our workforce data. This unique linkage allows us to identify not only which companies and industries are leading in innovation, but also the employee journeys that most often lead to invention. In this week's newsletter, we dive into the top innovative companies and industries of 2024 and what they reveal about the state of American ingenuity.
Linking patent assignees to Revelio Labs' company universe, we take a look at the top industries driving patent activity—an analysis that would be, if not impossible, very cumbersome with USPTO data alone. Technology leads the way, with electronics manufacturing standing out in particular: Nearly 30% of all patents assigned in 2024 went to companies in this sector, highlighting its central role in shaping the current wave of innovation.
A deeper look into the top innovative companies of 2024 shows that mobile device producers and semiconductor manufacturers are the true drivers of this dominance. Samsung in particular shines as the most innovative company, having 2.5 times the number patents of its closest patent rival, TSMC.
While electronics manufacturing continues to lead in overall volume, the most dramatic growth in innovation has come from less traditional sectors for innovation. As shown in the chart below, financial services has more than doubled its patent output since 2014—a 132.9% increase—making it the fastest-growing industry in terms of assigned patents. Capital One is the top innovator in the industry, with more than 1100 patents assigned in 2024, followed by Bank of America and Wells Fargo. Other rising sectors include digital commerce, biotech, and healthcare services, and even apparel retail (driven by the patenting activity of Nike, which has more than doubled its patenting between 2014 and 2024).
Finally, we turn to the content of innovation in the financial sector by analyzing the titles of patents granted to financial institutions. Using total frequency counts, we identify the most common topics across financial patent titles. Artificial intelligence and machine learning are at the forefront of financial innovation. Other innovation topics include the design of user interfaces, authentication systems, and payment systems. This reflects an increasing shift in the nature of patents from more traditional physical inventions to less tangible ideas and technologies—a result of the emerging digital economy.
As innovation continues to evolve across sectors, understanding not just which companies are innovating—but how and where—is increasingly essential. From the dominance of electronics manufacturing to the rapid rise of financial services and the growing importance of AI in financial technologies, the innovation landscape of 2024 reflects a dynamic shift in priorities and capabilities. With tools like Employee-Linked Patents, we can now trace these patterns more clearly than ever—shedding light on the industries, companies, and workers who are shaping the future.
