The global power industry experienced a 46% decline in the number of digitalization-related patent applications in Q2 2023 compared with the previous quarter. The total number of digitalization-related grants rose by 14% in Q2 2023, according to GlobalData’s Patent Analytics. GlobalData’s Power Industry Top 20 Themes Predictions for 2023 – Thematic Intelligence report identifies how digitalisation through key themes such as AI, big data, and smart grid impact the power sector. It includes a series of predictions and the winners and losers in each of the key themes. Buy the report here.
Notably, the number of digitalization-related patent applications in the power industry was 292 in Q2 2023, versus 544 in the prior quarter.
The top five companies accounted for 58% of patenting activity
Analysis of patenting activity by companies shows that State Grid Corporation of China filed the most digitalization patents within the power industry in Q2 2023. The company filed 96 digitalization-related patents in the quarter, compared with 136 in the previous quarter. It was followed by China Southern Power Grid with 54 digitalization patent filings, Strong Force Iot Portfolio 2016 (8 filings), and China General Nuclear Power (6 filings) in Q2 2023.
Patenting activity was driven by China with a 76% share of total patent filings
The largest share of digitalization related patent filings in the power industry in Q2 2023 was in China with 76%, followed by the US (17%) and Germany (0.68%). The share represented by China was 8% higher than the 69% share it accounted for in Q1 2023.
For further understanding of GlobalData's Power Industry Top 20 Themes Predictions for 2023 – Thematic Intelligence buy the report here.