The global power industry experienced a 43% decline in the number of cybersecurity-related patent applications in Q3 2024 compared with the previous quarter. The total number of cybersecurity-related grants dropped by 19% in Q3 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Power: Patents Trends Q3 2024 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.
Smarter leaders trust GlobalData
Notably, the number of cybersecurity-related patent applications in the power industry was 387 in Q3 2024, versus 677 in the prior quarter.
The top five companies accounted for 52% 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 Q3 2024. The company filed 107 cybersecurity-related patents in the quarter, compared with 166 in the previous quarter. It was followed by China Southern Power Grid with 54 cybersecurity patent filings, Korea Electric Power (19 filings), and ABB (11 filings) in Q3 2024.
Patenting activity was driven by China with a 50% share of total patent filings
The largest share of cybersecurity related patent filings in the power industry in Q3 2024 was in China with 50%, followed by the US (13%) and Australia (2%). The share represented by China was 19% lower than the 69% share it accounted for in Q2 2024.
For further understanding of GlobalData's Power: Patents Trends Q3 2024, buy the databook here.
Data Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
