The global power industry experienced a 48% decline in the number of cybersecurity-related patent applications in Q4 2023 compared with the previous quarter. The total number of cybersecurity-related grants dropped by 35% in Q4 2023, according to GlobalData’s Patent Analytics. GlobalData’s databook Power: Patents Trends Q4 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.
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Notably, the number of cybersecurity-related patent applications in the power industry was 483 in Q4 2023, versus 935 in the prior quarter.
The top five companies accounted for 53% of patenting activity
Analysis of patenting activity by companies shows that State Grid Corporation of China filed the most cybersecurity patents within the power industry in Q4 2023. The company filed 125 cybersecurity-related patents in the quarter, compared with 169 in the previous quarter. It was followed by China Southern Power Grid with 62 cybersecurity patent filings, Xi'an Thermal Power Research Institute (47 filings), and Schneider Electric (12 filings) in Q4 2023.
Patenting activity was driven by China with a 68% share of total patent filings
The largest share of cybersecurity related patent filings in the power industry in Q4 2023 was in China with 68%, followed by the US (14%) and Japan (2%). The share represented by China was 14% lower than the 82% share it accounted for in Q3 2023.
For further understanding of GlobalData's Power: Patents Trends Q4 2023, buy the databook here.
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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.
