View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Analysis
April 18, 2022updated 20 Apr 2022 2:17pm

Digitalisation innovation among power industry companies has dropped off in the last year

Analysis of patent filings shows a shrinking level of digitalization related applications in the industry over the past year

By Data Journalism Team

Research and innovation in digitalisation in the power industry operations and technologies sector has declined in the last year.

The most recent figures show that the number of digitalisation related patent applications in the industry stood at 104 in the three months ending February – down from 113 over the same period in 2021.

Figures for patent grants related to digitalisation followed a different pattern to filings – growing from 42 in the three months ending February 2021 to 45 in the same period in 2022.

The figures are compiled by GlobalData, which tracks patent filings and grants from official offices around the world. Using textual analysis, as well as official patent classifications, these patents are grouped into key thematic areas, and linked to key companies across various industries.

Digitalisation is one of the key areas tracked by GlobalData. It has been identified as being a key disruptive force facing companies in the coming years, and is one of the areas that companies investing resources in now are expected to reap rewards from. The figures also provide an insight into the largest innovators in the sector.

Siemens was the top digitalisation innovator in the power industry operations and technologies sector in the latest quarter. The company, which has its headquarters in Germany, filed 55 digitalisation related patents in the three months ending February. That was up from 52 over the same period in 2021.

It was followed by the US-based Honeywell International with 45 digitalisation patent applications, South Korea-based Korea Electric Power Corp (14 applications), and the US-based 3M (8 applications).

Korea Electric Power Corp has recently ramped up R&D in digitalisation. It saw growth of 92.9% in related patent applications in the three months ending February compared to the same period in 2021 – the highest percentage growth out of all companies tracked with more than 10 quarterly patents in the power industry operations and technologies sector.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Wednesday. The power industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy


Thank you for subscribing to Power Technology