The global power industry experienced a 32% decline in the number of future of work-related patent applications in Q2 2023 compared with the previous quarter. The total number of future of work-related grants dropped by 44% in Q2 2023, according to GlobalData’s Patent Analytics. GlobalData’s Future of Work – Thematic Research report explains how the theme future of work is impacting the workforce across different sectors, it presents key technology, macroeconomic and regulatory trends, market size and growth forecasts for technologies that will play a key role in the theme. Buy the report here.
Notably, the number of future of work-related patent applications in the power industry was 1,823 in Q2 2023, versus 2,690 in the prior quarter.
The top five companies accounted for 17% of patenting activity
Analysis of patenting activity by companies shows that State Grid Corporation of China filed the most future of work patents within the power industry in Q2 2023. The company filed 156 future of work-related patents in the quarter, compared with 155 in the previous quarter. It was followed by China Southern Power Grid with 65 future of work patent filings, Huawei Investment (37 filings), and Eaton Corporation (29 filings) in Q2 2023.
Patenting activity was driven by China with a 54% share of total patent filings
The largest share of future of work related patent filings in the power industry in Q2 2023 was in China with 54%, followed by the US (26%) and Japan (3%). The share represented by China was 7% higher than the 47% share it accounted for in Q1 2023.
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