The power industry continues to be a hotbed of innovation, with activity driven by the need for greater operational efficiency and performance with network modelling, power simulation operations, and fault identification analysis for distribution networks, and growing importance of technologies such as Artificial Neural Network (ANN), Support Vector Machine (SVM), and Genetic Algorithm (GA) in artificial intelligence. 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 Innovation in Power: Power distribution fault modeling.
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.
Power distribution fault modelling is a key innovation area in power
Power distribution fault modelling is a part of fault analysis and troubleshooting mechanism in power distribution networks. Fault modelling particularly relates to analysing defective power circuits and monitoring for reliability of functional circuit elements.
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 10+ companies, spanning technology vendors, established power companies, and up-and-coming start-ups engaged in the development and application of power distribution fault modelling.
Key players in power distribution fault modelling – a disruptive innovation in the power industry
‘Application diversity’ measures the number of different applications identified for each relevant patent and broadly splits companies into either ‘niche’ or ‘diversified’ innovators.
‘Geographic reach’ refers to the number of different countries each relevant patent is registered in and reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.
To further understand the key themes and technologies disrupting the power industry, access GlobalData’s latest thematic research report on Power.