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May 20, 2022updated 16 May 2022 9:38am

Machine learning innovation among power industry companies dropped off in the last quarter

Analysis of patent filings shows an decrease in related applications in the industry following a rise over the past year

By Data Journalism Team

Research and innovation in machine learning in the power industry operations and technologies sector has declined in the last quarter – but remains higher than it was a year ago.

The most recent figures show that the number of related patent applications in the industry stood at 108 in the three months ending March – up from 103 over the same period in 2021.

Figures for patent grants related to followed a similar pattern to filings – growing from 15 in the three months ending March 2021 to 19 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.

Machine learning 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 innovator in the power industry operations and technologies sector in the latest quarter. The company, which has its headquarters in Germany, filed 83 related patents in the three months ending March. That was up from 77 over the same period in 2021.

It was followed by the Switzerland-based ABB with 11 patent applications, South Korea-based Korea Electric Power Corp (9 applications), and the US-based Honeywell International Inc (9 applications).

ABB has recently ramped up R&D in machine learning. It saw growth of 36.4% in related patent applications in the three months ending March 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.

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