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January 20, 2022updated 21 Mar 2022 9:38am

Internet of things innovation among power industry companies has dropped off in the last year

By Data Journalism Team

Research and innovation in internet of things in the power industry operations and technologies sector has declined in the last year.

The most recent figures show that the number of IoT patent applications in the industry stood at 37 in the three months ending November – down from 48 over the same period last year.

Figures for patent grants related to IoT followed a similar pattern to filings – shrinking from 66 in the three months ending November last year to 25 this year.

The figures are compiled by GlobalData, who track 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.

IoT 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 AG was the top internet of things innovator in the power industry operations and technologies sector in the last quarter. The company, which has its headquarters in Germany, filed 20 IoT related patents in the three months ending November. That was down from 22 over the same period last year.

It was followed by the US-based 3M Co with 14 IoT patent applications, South Korea-based Korea Electric Power Corp (2 applications), and South Korea-based LS ELECTRIC Co Ltd (2 applications).

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