The global power industry experienced a 57% decline in the number of smart grid-related patent applications in Q3 2024 compared with the previous quarter. The total number of smart grid-related grants dropped by 10% in Q3 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Power: Patents Trends Q3 2024 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.
Smarter leaders trust GlobalData
Notably, the number of smart grid-related patent applications in the power industry was 2,280 in Q3 2024, versus 5,268 in the prior quarter.
The top five companies accounted for 18% 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 Q3 2024. The company filed 203 smart grid-related patents in the quarter, compared with 686 in the previous quarter. It was followed by China Southern Power Grid with 113 smart grid patent filings, Korea Electric Power (39 filings), and Huawei Investment (25 filings) in Q3 2024.
Patenting activity was driven by China with a 60% share of total patent filings
The largest share of smart grid related patent filings in the power industry in Q3 2024 was in China with 60%, followed by the US (10%) and Japan (2%). The share represented by China was 21% lower than the 81% share it accounted for in Q2 2024.
For further understanding of GlobalData's Power: Patents Trends Q3 2024, buy the databook here.
Data Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
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.
