The power industry continues to be a hotbed of innovation, with activity driven by the growing demand for renewable energy and shift towards electric vehicles, and the growing importance of technologies such as fuel cell electric vehicles (FCEVs) and energy storage systems. 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 Environment Sustainability in Power: Zirconia based fuel cells.
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…