The global power industry experienced a 63% drop in company filings mentions of digitalization in Q3 2022 compared with the previous quarter, with the highest share accounted for by NTPC with 8% year-on-year increase, according to GlobalData’s analysis of over 180 power company filings.
Notably, digitalization was one of the most frequently referenced themes in Q3 2022, ranking highest in terms of mentions, ahead of industrial automation and cybersecurity, according to GlobalData.
Of the 50 leading companies in the power industry, NTPC had the greatest increase in references for digitalization in Q3 2022, compared with the previous quarter. GlobalData identified 56 digitalization-related sentences in the company's filings - 31 % of all sentences - and an increase of 100% in Q3 2022 compared with Q2 2022. Adani Transmission ’s mentions of digitalization rose by 825% to 37 and Adani Power ’s by 100% to 22.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for digitalization in Q3 2022 was 98.