The power industry continues to be a hotbed of patent innovation. Activity is driven by improved operational efficiency, and enhanced productivity, and growing importance of technologies such as smart grids, smart meters and advanced metering infrastructure. In the last three years alone, there have been over 656,000 patents filed and granted in the power industry, according to GlobalData’s report on Innovation in power: prepaid electricity metering. Buy the report here.
However, not all innovations are equal and nor do they follow a constant upward trend. Instead, their evolution takes the form of an S-shaped curve that reflects their typical lifecycle from early emergence to accelerating adoption, before finally stabilizing and reaching maturity.
Identifying where a particular innovation is on this journey, especially those that are in the emerging and accelerating stages, is essential for understanding their current level of adoption and the likely future trajectory and impact they will have.
40+ innovations will shape the power industry
According to GlobalData’s Technology Foresights, which plots the S-curve for the power industry using innovation intensity models built on over 77,000 patents, there are 40+ innovation areas that will shape the future of the industry.
Within the emerging innovation stage, variable speed gas turbines is disruptive technology that is in the early stages of application and should be tracked closely. Perovskite photoactive layering, power distribution control system, and CAES gas turbine are some of the accelerating innovation areas, where adoption has been steadily increasing. Among maturing innovation areas are geothermal heat pumps and prepaid electricity metering, which are now well established in the industry.
Innovation S-curve for the power industry
Prepaid electricity metering is a key innovation area in artificial intelligence
Prepaid electricity metering enables consumers to pay for their electricity in advance by keeping a track of the power consumed. Prepaid metering minimizes the gap between the cost of power supply and the revenue generated.
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 60+ companies, spanning technology vendors, established power companies, and up-and-coming start-ups engaged in the development and application of prepaid electricity metering.
Key players in prepaid electricity metering – a disruptive innovation in the power industry
‘Application diversity’ measures the number of applications identified for each patent. It broadly splits companies into either ‘niche’ or ‘diversified’ innovators.
‘Geographic reach’ refers to the number of countries each patent is registered in. It reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.
Patent volumes related to prepaid electricity metering
|Company||Total patents (2010 - 2022)||Premium intelligence on the world's largest companies|
|Gogoro, Inc.||93||Unlock Company Profile|
|Causam Energy, Inc.||82||Unlock Company Profile|
|The AES Corp||39||Unlock Company Profile|
|Shell plc||37||Unlock Company Profile|
|Honda Motor Co Ltd||34||Unlock Company Profile|
|Chargepoint Pty Ltd||31||Unlock Company Profile|
|Emerging Automotive, LLC||31||Unlock Company Profile|
|General Electric Co||30||Unlock Company Profile|
|Panasonic Holdings Corp||27||Unlock Company Profile|
|Porsche Automobil Holding SE||23||Unlock Company Profile|
|Toyota Motor Corp||21||Unlock Company Profile|
|Siemens AG||19||Unlock Company Profile|
|Kapsch TrafficCom AG||17||Unlock Company Profile|
|Shenzhen Deren Electronic Co Ltd||16||Unlock Company Profile|
|Cpi Integration Holdings Inc||16||Unlock Company Profile|
|Sun Electric Pte Ltd||13||Unlock Company Profile|
|NEC Corp||12||Unlock Company Profile|
|Meditor European Master Fund Limited||11||Unlock Company Profile|
|ChargePoint Holdings Inc||11||Unlock Company Profile|
|Mitsubishi Motors Corporation||10||Unlock Company Profile|
|CEZ, AS||9||Unlock Company Profile|
|SK Inc||9||Unlock Company Profile|
|Nissan Motor Co Ltd||9||Unlock Company Profile|
|Mitsubishi Heavy Industries Ltd||9||Unlock Company Profile|
|Chubu Electric Power Co Inc||8||Unlock Company Profile|
|Liberty PlugIns, Inc.||7||Unlock Company Profile|
|Atos SE||7||Unlock Company Profile|
|Tanktwo||7||Unlock Company Profile|
|Hitachi Ltd||7||Unlock Company Profile|
|Mitsubishi Corp||6||Unlock Company Profile|
|Nio Inc||6||Unlock Company Profile|
|Global Foundries Inc||5||Unlock Company Profile|
|Doosan Corp||5||Unlock Company Profile|
|Blink Acquisition LLC||5||Unlock Company Profile|
|Thunder Power Hong Kong Limited||4||Unlock Company Profile|
|Inventus Holdings, LLC||4||Unlock Company Profile|
|Langmatz GmbH||4||Unlock Company Profile|
|Toshiba Corp||4||Unlock Company Profile|
|Georg Fischer AG||3||Unlock Company Profile|
|AeroVironment Inc||3||Unlock Company Profile|
|International Business Machines Corp||3||Unlock Company Profile|
|b8ta Inc||3||Unlock Company Profile|
|SoftBank Group Corp||3||Unlock Company Profile|
|Schneider Electric SE||2||Unlock Company Profile|
|Elaphe Propulsion Technologies Ltd||2||Unlock Company Profile|
|ZF Friedrichshafen AG||2||Unlock Company Profile|
|Verizon Patent And Licensing, Inc.||2||Unlock Company Profile|
|Midcap Finco Designated Activity Company,||2||Unlock Company Profile|
|Neutron Holdings Inc||2||Unlock Company Profile|
|SMA Solar Technology AG||2||Unlock Company Profile|
Source: GlobalData Patent Analytics
Siemens EnergyIP Prepay is a comprehensive energy payment solution and a smart way to energy efficiency. It enables flexible tariff models, reduces operating costs, and gives customers the freedom to recharge their account anytime. Siemens also partnered with Tata Power Delhi Distribution for deployment of smart metering technology for over 2,00,000 smart metres in Delhi, India. The Energy IP Meter Data Management System installed and commissioned by Siemens enables timely and accurate collection of electricity meter data.
To further understand the key themes and technologies disrupting the power industry, access GlobalData’s latest thematic research report on Power.