The global power industry experienced a 30% decline in the number of future of work-related patent applications in Q3 2023 compared with the previous quarter. The total number of future of work-related grants dropped by 13% in Q3 2023, according to GlobalData’s Patent Analytics. GlobalData’s databook Power: Patents Trends Q3 2023 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 future of work-related patent applications in the power industry was 3,746 in Q3 2023, versus 5,372 in the prior quarter.
The top five companies accounted for 14% of patenting activity
Analysis of patenting activity by companies shows that State Grid Corporation of China filed the most future of work patents within the power industry in Q3 2023. The company filed 226 future of work-related patents in the quarter, compared with 357 in the previous quarter. It was followed by China Southern Power Grid with 117 future of work patent filings, ABB (65 filings), and Siemens (55 filings) in Q3 2023.
Patenting activity was driven by China with a 53% share of total patent filings
The largest share of future of work related patent filings in the power industry in Q3 2023 was in China with 53%, followed by the US (15%) and South Korea (4%). The share represented by China was 2% lower than the 55% share it accounted for in Q2 2023.
For further understanding of GlobalData's Power: Patents Trends Q3 2023, buy the databook here.
Premium 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.
