The power industry continues to be a hotbed of innovation, with activity driven by automation, and energy efficiency, and growing importance of technologies such as smart homes and smart power devices. In the last three years alone, there have been over 439,000 patents filed and granted in the power industry, according to GlobalData’s report on Internet of Things in Power: Remote switching smart home applications.
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 stabilising 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.
90+ 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 83,000 patents, there are 90+ innovation areas that will shape the future of the industry.
Within the emerging innovation stage, EV conductive charging, smart grid remote monitoring, and self-organising networks power optimisation are disruptive technologies that are in the early stages of application and should be tracked closely. Smart batteries, renewable energy integrated microgrids, and smart lighting system are some of the accelerating innovation areas, where adoption has been steadily increasing. Among maturing innovation areas are home automation network power management and prepaid electricity metering, which are now well established in the industry.
Innovation S-curve for Internet of Things in the power industry
Remote switching smart home applications is a key innovation area in Internet of Things
Remote switching smart home applications refers to smart home automation for monitoring and controlling the home environment. The smart home appliances are enabled through IoT home hardware technologies of sensors and actuators for communication and automation to offer remote home control.
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 10+ companies, spanning technology vendors, established power companies, and up-and-coming start-ups engaged in the development and application of remote switching smart home applications.
Key players in remote switching smart home applications – a disruptive innovation in the power industry
‘Application diversity’ measures the number of different applications identified for each relevant patent and broadly splits companies into either ‘niche’ or ‘diversified’ innovators.
‘Geographic reach’ refers to the number of different countries each relevant patent is registered in and reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.
Patent volumes related to remote switching smart home applications
|Company||Total patents (2010 - 2021)||Premium intelligence on the world's largest companies|
|Elbex Video||86||Unlock company profile|
|Schneider Electric||53||Unlock company profile|
|Eaton||38||Unlock company profile|
|Siemens||34||Unlock company profile|
|Zeppelin-Stiftung||23||Unlock company profile|
|MinebeaMitsumi||17||Unlock company profile|
|ABB||16||Unlock company profile|
|Koninklijke Philips||7||Unlock company profile|
|Berker||6||Unlock company profile|
|Omron||6||Unlock company profile|
|Amazon.com||5||Unlock company profile|
Source: GlobalData Patent Analytics
Schneider Electric is a leader in patent filing for smart home applications. The company offers C-Bus home automation and KNX home automation as their smart products for residential and small businesses. These products offer wired building automation and home automation to control and manage shutters and blinds, lightings, remote control, HVAC, and security systems etc.
To further understand how Internet of Things is disrupting the power industry, access GlobalData’s latest thematic research report on Internet of Things in Power (2021).