The technology industry continues to be a hotbed of innovation, with activity driven by the growth of the market for IoT-enabled V2G networks including the increasing adoption of EVs, the need for grid stability and energy balancing, and the integration of renewable energy sources and growing importance of technologies such as smart charging infrastructure, vehicle-to-grid communication protocols, energy management systems, and advanced metering infrastructure. These technologies enable seamless interaction between EVs and the power grid, facilitating energy optimization, load management, and grid resilience. IoT-enabled V2G networks play a crucial role in promoting sustainable transportation and the efficient utilization of renewable energy resources. 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: V2G networks. 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
V2G networks is a key innovation area in IoT
V2G networks refer to networks that facilitate the utilization of electric vehicles as dynamic energy sources. These networks enable the seamless interaction between electric vehicles and the power grid, empowering vehicle owners to either supply electricity back to the grid or store energy for future consumption. By integrating electric vehicles into the grid, V2G networks offer flexibility and versatility in managing energy resources and promote the efficient utilization of electric vehicle batteries.
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 V2G networks.
Key players in V2G networks – 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 V2G networks
Source: GlobalData Patent Analytics
Among the companies innovating in V2G networks, Gogoro is one of the leading patent filers. The company’s patents are aimed at a network of collection, charging, and distribution machines and portable electrical energy storage devices (e.g., batteries, supercapacitors, or ultracapacitors). Locations of collection, charging, and distribution machines having available charged portable electrical energy storage devices are communicated to or acquired by a mobile device of a user or a navigation system of a user's vehicle. The locations are indicated on a graphical user interface on a map relative to the user's current location. The user may select specific locations on the map to reserve an available portable electrical energy storage device at a particular collection, charging, and distribution machine location. The collection, charging, and distribution machine locations displayed may also be based on a physical distance or driving time from the current location of the user’s mobile device or vehicle. The other prominent patent filers in the space include Honda Motor and Toyota Motor.
In terms of geographical reach, Mitsubishi Heavy Industries leads the pack, followed by A.T. Kearney and Renault. In terms of application diversity, SHYFT Power Solutions holds the top position, followed by Moixa Energy Holdings and Delta Electronics.
IoT innovation in Vehicle-to-Grid (V2G) networks has revolutionized the way electric vehicles (EVs) interact with the power grid. V2G networks enable bidirectional communication and energy flow between EVs and the power grid, allowing EVs to not only consume energy but also feed excess energy back to the grid. To further understand how IoT is disrupting the technology industry, access GlobalData’s latest thematic research report on Internet of Things – Thematic Research.