The technology industry continues to be a hotbed of innovation, with activity driven by growing adoption of Internet of Things (IoT) devices, the increasing need for minimizing downtime and optimizing operational efficiency, the demand for predictive maintenance solutions to prevent costly breakdowns, the rise in the adoption of IoT-enabled devices and connectivity. The growing importance of technologies such as sensor networks for data collection, cloud computing for data storage and processing, and machine learning algorithms for fault detection and predictive analytics further supports innovation in the industry. Advanced data visualization techniques and remote monitoring capabilities also contribute to efficient fault diagnosis and maintenance decision-making. 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 Internet of Things: Real-time fault diagnosis systems. 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, digital twins, and network-on-a-chip are disruptive technologies that are in the early stages of application and should be tracked closely. Intelligent embedded systems, smart factory systems, and smart grids are some of the accelerating innovation areas, where adoption has been steadily increasing. Among maturing innovation areas are contactless verification, wearable physiological monitors, and software defined wide area network, which are now well established in the industry.
Innovation S-curve for IoT in the technology industry
Real-time fault diagnosis systems is a key innovation area in IoT
Real-time fault diagnosis systems are computerized systems equipped with sophisticated algorithms and data analysis capabilities, enabling the detection, diagnosis, and reporting of hardware or software faults in real time. These systems collect data from sensors, swiftly analyse it, and promptly identify and report any faults that arise. This technology finds application across diverse industries such as automotive, aerospace, manufacturing, and healthcare.
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 technology companies, and up-and-coming start-ups engaged in the development and application of real-time fault diagnosis systems.
Key players in Real-time fault diagnosis systems – 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 real-time fault diagnosis systems
|Company||Total patents (2010 - 2022)||Premium intelligence on the world's largest companies|
|State Grid||45||Unlock Company Profile|
|Alphabet||45||Unlock Company Profile|
|Launch Tech||37||Unlock Company Profile|
|Beijing Automotive Group||27||Unlock Company Profile|
|General Motors||25||Unlock Company Profile|
|Gree Electric Appliances||25||Unlock Company Profile|
|China General Nuclear Power||21||Unlock Company Profile|
|Shandong Heavy Industry Group||20||Unlock Company Profile|
|China FAW Group||20||Unlock Company Profile|
|Ford Motor||20||Unlock Company Profile|
|China National Nuclear||19||Unlock Company Profile|
|Dongfeng Motor||18||Unlock Company Profile|
|Hitachi||18||Unlock Company Profile|
|CRRC Group||17||Unlock Company Profile|
|General Electric||17||Unlock Company Profile|
|Hyundai Motor Group||17||Unlock Company Profile|
|Toyota Motor||17||Unlock Company Profile|
|Baidu||17||Unlock Company Profile|
|Kia||16||Unlock Company Profile|
|Emerson Electric||16||Unlock Company Profile|
|Fanuc||15||Unlock Company Profile|
|Huawei Investment & Holding||14||Unlock Company Profile|
|Autel Intelligent Technology||14||Unlock Company Profile|
|Anhui Jianghuai Automobile Group||14||Unlock Company Profile|
|Robert Bosch Stiftung||13||Unlock Company Profile|
|Boeing||13||Unlock Company Profile|
|China South Industries Group||12||Unlock Company Profile|
|China Southern Power Grid||12||Unlock Company Profile|
|Guangzhou Automobile Industry Group||10||Unlock Company Profile|
|China Railway Signal & Communication||8||Unlock Company Profile|
|Zhejiang Geely||8||Unlock Company Profile|
|Yokogawa Electric||8||Unlock Company Profile|
|JAC Motors||8||Unlock Company Profile|
|Xuji Electric||8||Unlock Company Profile|
|BAIC BluePark New Energy Technology||8||Unlock Company Profile|
|Chery Automobile||7||Unlock Company Profile|
|Baoding Innovation Great Wall Asset Management||7||Unlock Company Profile|
|Tokyo Electron||7||Unlock Company Profile|
|Xuji Group||7||Unlock Company Profile|
|Shenzhen Launch Software Development||6||Unlock Company Profile|
|ZTE||6||Unlock Company Profile|
|BYD||6||Unlock Company Profile|
|TTTech Auto||6||Unlock Company Profile|
|Traffic Control Technology||6||Unlock Company Profile|
|Siemens||6||Unlock Company Profile|
|China Techenergy||6||Unlock Company Profile|
|Xi'An Aviation Brake Technology||6||Unlock Company Profile|
|Beijing Zhixing Hongyuan Automobile||6||Unlock Company Profile|
|Jiangling Motors||5||Unlock Company Profile|
|Guangzhou Xiaopeng Automobile Technology||5||Unlock Company Profile|
Source: GlobalData Patent Analytics
Alphabet is a leading patent filer in real-time fault diagnosis systems. One of the company's patents focuses on a thermostat with a user interface that operates in two modes, each requiring different power levels. The thermostat includes sensors to detect user presence nearby and a processing function that determines a proximity profile. Based on the profile and historical sensor responses, the user interface is adjusted to the mode that aligns with user viewing times. Other prominent patent filers in the space include State Grid Corporation of China and Launch Tech.
Real-time fault diagnosis systems have revolutionized maintenance and monitoring practices across industries, enabling proactive identification and resolution of equipment or system failures. This innovation involves the integration of IoT devices, sensors, and data analytics to monitor and analyse real-time data from interconnected assets.
To further understand how IoT is disrupting the technology industry, access GlobalData’s latest thematic research report on Internet of Things – Thematic Research.