The global power industry experienced a 48% decline in the number of smart grid-related patent applications in Q2 2023 compared with the previous quarter. The total number of smart grid-related grants dropped by 46% in Q2 2023, according to GlobalData’s Patent Analytics. GlobalData’s Power Industry Top 20 Themes Predictions for 2023 – Thematic Intelligence report identifies key themes such as AI, big data, and smart grid that will impact the power sector, it includes a series of predictions and the winners and losers in each of them. Buy the report here.
Notably, the number of smart grid-related patent applications in the power industry was 1,804 in Q2 2023, versus 3,447 in the prior quarter.
The top five companies accounted for 39% of patenting activity
Analysis of patenting activity by companies shows that State Grid Corporation of China filed the most smart grid patents within the power industry in Q2 2023. The company filed 506 smart grid-related patents in the quarter, compared with 585 in the previous quarter. It was followed by China Southern Power Grid with 111 smart grid patent filings, North China Electric Power University (46 filings), and Xi'an Thermal Power Research Institute (19 filings) in Q2 2023.
Patenting activity was driven by China with an 82% share of total patent filings
The largest share of smart grid related patent filings in the power industry in Q2 2023 was in China with 82%, followed by the US (10%) and Japan (1%). The share represented by China was 7% higher than the 75% 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.