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July 21, 2022updated 19 Jul 2022 11:31am

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

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

By Data Journalism Team

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

The most recent figures show that the number of related patent applications in the industry stood at 452 in the three months ending May – down from 642 over the same period in 2021.

Figures for patent grants related to followed a different pattern to filings – growing from 314 in the three months ending May 2021 to 362 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.

Cloud 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 283 related patents in the three months ending May. That was down from 376 over the same period in 2021.

It was followed by the US-based Honeywell International with 74 patent applications, Switzerland-based ABB (35 applications), and South Korea-based Korea Electric Power (16 applications).

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