Fox Factory Holding has patented a system for monitoring and analyzing a participant’s performance in a sporting activity involving a vehicle. The system provides recommendations for vehicle replacement or upgrading based on performance data and geographic position, including advertisements from vehicle component providers. GlobalData’s report on Fox Factory Holding gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on Fox Factory Holding, was a key innovation area identified from patents. Fox Factory Holding's grant share as of April 2024 was 64%. Grant share is based on the ratio of number of grants to total number of patents.
Enhancing revenue generation through monitoring and analyzing sporting activity
A recently granted patent (Publication Number: US11961602B2) outlines a method for enhancing revenue generation through the monitoring and analysis of a participant's performance in a sporting activity involving the use of a vehicle. The method involves attaching a participant activity monitoring unit to the vehicle to track various parameters such as speed, gear ratio, and suspension usage. The unit also determines the participant's location during the activity and stores performance information. This data is then correlated with the geographic position data of the vehicle and used to deliver comparative performance data through a participant performance correlator. The participant is provided with information, including recommendations for vehicle replacement or upgrading, based on this data, which may also include advertisements from providers of vehicle components.
This innovative method not only enhances revenue generation but also provides valuable insights to participants engaged in sporting activities with vehicles. By monitoring and analyzing performance data in real-time, participants can receive personalized recommendations for vehicle maintenance and upgrades based on their actual usage and performance. The inclusion of advertisements from vehicle component providers further adds a commercial aspect to the process, potentially creating new revenue streams for the participants or the providers. Overall, this patent introduces a novel approach to leveraging technology for enhancing the sporting experience while also exploring new avenues for revenue generation in the automotive industry.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
