The power industry continues to be a hotbed of innovation. Activity is driven by the need for power infrastructure improvements, increased efficiency and productivity and lowering of the carbon footprint, and growing importance of technologies such as smart metering, grid modernisation and digitalisation of power distribution infrastructure. In the last three years alone, there have been over 439,000 patents filed and granted in the power industry, according to GlobalData’s report on Internet of Things in Power: Smart grid applications. Buy the report here.

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According to GlobalData’s Technology Foresights, which uses over 83,000 patents to analyse innovation intensity for the power industry, there are 90+ innovation areas that will shape the future of the industry.

Smart grid applications is a key innovation area in Internet of Things

Smart grids utilise IT and communication modules to collect, transmit and analyse data in real-time scenario to facilitate optimisation of energy utilisation, planning, efficiency and reliability. Smart grid applications can develop various demand response programmes to manage customer loads and reduced demand peaks along with new types of demand and additional distributed generation.

GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies.  According to GlobalData, there are 20+ companies, spanning technology vendors, established power companies, and up-and-coming start-ups engaged in the development and application of smart grid applications.

Key players in smart grid applications – a disruptive innovation in the power industry

‘Application diversity’ measures the number of different applications identified for each relevant patent. It broadly splits companies into either ‘niche’ or ‘diversified’ innovators.

‘Geographic reach’ refers to the number of different countries each relevant patent is registered in. It reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.

Patent volumes related to smart grid applications

Company Total patents (2021 - 2023) Premium intelligence on the world's largest companies
Causam Energy 109 Unlock Company Profile
Itron 59 Unlock Company Profile
Signify 43 Unlock Company Profile
Enel 35 Unlock Company Profile
Corinex Communications 30 Unlock Company Profile
Trilliant Holdings 18 Unlock Company Profile
LG 14 Unlock Company Profile
Kerlink 11 Unlock Company Profile
Toshiba 10 Unlock Company Profile
Valmont Industries 10 Unlock Company Profile
AT&T 10 Unlock Company Profile
Microchip Technology 10 Unlock Company Profile
Miitors 9 Unlock Company Profile
Carbontrack 8 Unlock Company Profile
Consert 8 Unlock Company Profile
Duke Energy 8 Unlock Company Profile
Honeywell International 8 Unlock Company Profile
Itron Global 8 Unlock Company Profile
NEC 7 Unlock Company Profile
Alphabet 6 Unlock Company Profile
Electro Industries/GaugeTech 6 Unlock Company Profile
Nouvenn 5 Unlock Company Profile
Orison 5 Unlock Company Profile
Qualcomm 5 Unlock Company Profile

Source: GlobalData Patent Analytics

Enel, an Italian multinational manufacturer and distributor of electricity and gas, is a leading patent filter. The company is reinforcing and expanding its grids through Grid Futurability®, a global and customer-oriented industrial approach. Enel is investing in urban and rural areas to harmonise short-term and long-term strategic goals, maximise benefits and lower the carbon footprint. Recently in April 2022, Enel’s subsidiary Gridspertise signed a collaboration agreement with Hera Group for the development of smart grids through a state-of-the-art integrated system for collection and measurement of data from their respective networks in a multi-utility environment.

To further understand how Internet of Things is disrupting the power industry, access GlobalData’s latest thematic research report on Internet of Things in Power (2021).

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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.