The global power industry experienced a 14% decline in patent filings in Q2 2023 compared with the previous quarter. The total number of grants dropped by 16%, resulting in overall patent publications decreasing by 14.9%, 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 patent applications in the power industry was 30,196 in Q2 2023, versus 35,489 in the prior quarter. Filings were down 13% year-on-year and decrease 14% quarter-on-quarter. This compares to a 13% year-on-year decrease in patent grants and 14% decline in quarter-on-quarter.
Most patenting activity has been in the BPM Solutions sector, where the number of patents filed Q1 2023 was 1964, a rise of 36% versus the previous quarter. The second-largest patent count was in Utilities Networks (1678, down 26%) and then Semiconductors in third (1063, down 0%).
The top five companies accounted for 18% of patenting activity
Analysis of patenting activity by companies shows that the largest number of patents filed over the last quarter was by State Grid Corporation of China with 2,598, followed by China Southern Power Grid with 1,336 and Contemporary Amperex Technology with 629.
Patenting activity was driven by China with a 55% share of total patent filings
The largest share of patent filings in the power industry in Q2 2023 was in China with 55%, followed by the US (11%) and South Korea (7%). The share represented by China was 1% higher than the 54% 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.