The global power industry experienced a 30% decline in the number of cybersecurity-related patent applications in Q1 2023 compared with the previous quarter. The total number of cybersecurity-related grants dropped by 29% in Q1 2023, according to GlobalData’s Patent Analytics. GlobalData’s Cybersecurity in Power – Thematic Research market report provides a detailed understanding of how Cybersecurity impacts the value chain in the Power sector, and the leading Cybersecurity adopters and vendors in the market. Buy the report here.
Notably, the number of cybersecurity-related patent applications in the power industry was 197 in Q1 2023, versus 281 in the prior quarter.
The top five companies accounted for 56% of patenting activity
Analysis of patenting activity by companies shows that State Grid Corporation of China filed the most cybersecurity patents within the power industry in Q1 2023. The company filed 65 cybersecurity-related patents in the quarter, compared with 88 in the previous quarter. It was followed by China Southern Power Grid with 33 cybersecurity patent filings, ABB (5 filings), and Xi'an Thermal Power Research Institute (4 filings) in Q1 2023.
Patenting activity was driven by China with a 62% share of total patent filings
The largest share of cybersecurity related patent filings in the power industry in Q1 2023 was in China with 62%, followed by Japan (4%) and South Korea (4%). The share represented by China was 2% lower than the 65% share it accounted for in Q4 2022.
To further understand GlobalData's analysis on Cybersecurity in Power - Thematic Research buy the report here.