The global power industry experienced a 49% decline in the number of cybersecurity-related patent applications in Q3 2023 compared with the previous quarter. The total number of cybersecurity-related grants dropped by 26% 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.

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Notably, the number of cybersecurity-related patent applications in the power industry was 438 in Q3 2023, versus 851 in the prior quarter.

The top five companies accounted for 44% 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 Q3 2023. The company filed 97 cybersecurity-related patents in the quarter, compared with 177 in the previous quarter. It was followed by China Southern Power Grid with 67 cybersecurity patent filings, Schneider Electric (10 filings), and Contemporary Amperex Technology (9 filings) in Q3 2023.

Patenting activity was driven by China with a 73% share of total patent filings

The largest share of cybersecurity related patent filings in the power industry in Q3 2023 was in China with 73%, followed by the US (10%) and South Korea (4%). The share represented by China was 8% lower than the 81% share it accounted for in Q2 2023.

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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.