The global power industry experienced a 39% decline in the number of digitalization-related patent applications in Q3 2022 compared with the previous quarter. The total number of digitalization-related grants rose by 13% in Q3 2022, according to GlobalData’s Patent Analytics.
Notably, the number of digitalization-related patent applications in the power industry was 450 in Q3 2022, versus 737 in the prior quarter.
Analysis of patenting activity by companies shows that China Southern Power Grid filed the most digitalization patents within the power industry operations and technologies sector in Q3 2022. The company filed 106 digitalization-related patents in the quarter, compared with 35 in the previous quarter. It was followed by State Gridof China with 75 digitalization patent filings, Xi'an Thermal Power Research Institute (28 filings), and Toyota Motor (19 filings) in Q3 2022.
The largest share of digitalization related patent filings in the power industry in Q3 2022 was in China with 66%, followed by the US (10%) and South Korea (5%). The share represented by China was 8% lower than the 74% share it accounted for in Q2 2022.