The technology industry continues to be a hotbed of innovation, with activity driven by the focus on environmental sustainability to reduce greenhouse gas emissions, improve energy efficiency and promote sustainable economic growth, and growing importance of technologies such as blockchain, artificial intelligence (AI), data analytics and cloud computing in creating more efficient, secure, and transparent energy trading platforms. In the last three years alone, there have been over 3.6 million patents filed and granted in the technology industry, according to GlobalData’s report on Innovation in Environmental Sustainability: Energy trading platforms. 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 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.
300+ innovations will shape the technology industry
According to GlobalData’s Technology Foresights, which plots the S-curve for the technology industry using innovation intensity models built on over 2.5 million patents, there are 300+ innovation areas that will shape the future of the industry.
Within the emerging innovation stage, environmental sensors, smart grid monitoring system, and EV battery management systems are disruptive technologies that are in the early stages of application and should be tracked closely. Waste management systems, engine exhaust control systems, and hybrid solar are some of the accelerating innovation areas, where adoption has been steadily increasing. Among maturing innovation areas, energy trading platforms, EV charging metering automation, and smart grid metering are now well established in the industry.
Innovation S-curve for environmental sustainability in the technology industr
Energy trading platforms is a key innovation area in environmental sustainability
Energy trading platforms are digital marketplaces that allow individuals and organisations to buy and sell various energy products, including electricity, natural gas, and renewable energy certificates. These platforms provide a secure, efficient, and transparent environment for trading energy products and services, enabling price discovery through the consolidation of bids and offers from multiple market participants. Additionally, energy trading platforms offer analytical tools to assess market trends, making it easier for participants to make informed trading decisions.
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 50+ companies, spanning technology vendors, established technology companies, and up-and-coming start-ups engaged in the development and application of energy trading platforms.
Key players in energy trading platforms – a disruptive innovation in the technology 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 energy trading platforms
|Company||Total patents (2010 - 2022)||Premium intelligence on the world's largest companies|
|Intel||238||Unlock Company Profile|
|State Grid||170||Unlock Company Profile|
|Emerson Electric||105||Unlock Company Profile|
|China Southern Power Grid||49||Unlock Company Profile|
|Causam Energy||49||Unlock Company Profile|
|Honda Motor||34||Unlock Company Profile|
|Reactive Technologies||33||Unlock Company Profile|
|General Electric||31||Unlock Company Profile|
|Mahindra & Mahindra||31||Unlock Company Profile|
|Alphabet||26||Unlock Company Profile|
|Itron||22||Unlock Company Profile|
|Clean Power Research||21||Unlock Company Profile|
|Mitsubishi Heavy Industries||19||Unlock Company Profile|
|Access Business Group International||18||Unlock Company Profile|
|Siemens||16||Unlock Company Profile|
|Korea Electric Power||15||Unlock Company Profile|
|Toshiba||15||Unlock Company Profile|
|C3.ai||14||Unlock Company Profile|
|Expanergy||14||Unlock Company Profile|
|Emerging Automotive||14||Unlock Company Profile|
|State Grid Information and Telecommunication||13||Unlock Company Profile|
|Accenture||13||Unlock Company Profile|
|MelRok||12||Unlock Company Profile|
|Hitachi||11||Unlock Company Profile|
|Rockwell Automation||11||Unlock Company Profile|
|Crusoe Energy Systems||10||Unlock Company Profile|
|Nihon Techno||10||Unlock Company Profile|
|Panasonic||10||Unlock Company Profile|
|NARI Group||9||Unlock Company Profile|
|NARI Technology||8||Unlock Company Profile|
|E-Gear||8||Unlock Company Profile|
|Nippon Steel||8||Unlock Company Profile|
|Honeywell International||8||Unlock Company Profile|
|Versify Solutions||8||Unlock Company Profile|
|Johnson Controls International||7||Unlock Company Profile|
|LS Electric||7||Unlock Company Profile|
|LG||7||Unlock Company Profile|
|Koninklijke Philips||7||Unlock Company Profile|
|Commonwealth Scientific and Industrial Research Organisation||7||Unlock Company Profile|
|Carbontrack||7||Unlock Company Profile|
|Meditor European Master Fund||7||Unlock Company Profile|
|State Grid Shanghai Municipal Electric Power||6||Unlock Company Profile|
|Hanesbrands||6||Unlock Company Profile|
|LO3 Energy||6||Unlock Company Profile|
|Microsoft||6||Unlock Company Profile|
|Schneider Electric||6||Unlock Company Profile|
|Walmart||6||Unlock Company Profile|
|THOMSON LICENSING||6||Unlock Company Profile|
|Equinix||5||Unlock Company Profile|
|FSP Technology||5||Unlock Company Profile|
Source: GlobalData Patent Analytics
Among the companies innovating in energy trading platforms, Intel is the leading patent filer. The company filed and was granted a patent, for example, to develop a sled for a rack of a data centre including physical storage resources. The sled comprises mounting flanges to enable robotic insertion and removal from a rack and storage device mounting slots to enable robotic insertion and removal of storage devices into the sled. The storage devices are coupled to an optical fabric through storage resource controllers and a dual-mode optical network interface.
Other prominent patent filers in energy trading platforms include State Grid Corporation of China and Emerson Electric.
By geographic reach, Access Business Group International leads the pack, followed by Nihon Techno and Itron. In terms of application diversity, Intel holds the top position, followed by Alphabet and Equinix.
Energy trading platforms play a crucial role in the energy industry by providing a centralised platform for buyers and sellers to trade energy products and services. They enable greater transparency and efficiency in energy markets, allowing for more accurate price discovery and risk management.
To further understand how environmental sustainability is disrupting the technology industry, access GlobalData’s latest thematic research report on Sustainability – Thematic Research.