Is the power sector seeing the beginnings of a robotics investment boom?
Robotics deals, jobs and patents have been booming in the last few years. But is the power sector keeping up?
The power industry is seeing an increase in robotics investment across several key metrics, according to an analysis of GlobalData figures.
Robotics is gaining an increasing presence across multiple industries, with top companies around the world completing more robotics deals, hiring for more robotics roles and mentioning it more frequently in company reports at the start of 2021.
GlobalData’s thematic approach to sector activity seeks to group key company information on hiring, deals, patents and more by topic to see which industries are best placed to weather the disruptions coming their way.
These themes, of which robotics is one, are best thought of as “any issue that keeps a CEO awake at night”, and by tracking them, it becomes possible to ascertain which companies are leading the way on specific issues and which are dragging their heels.
One area in which there has been a decrease in robotics investment among power companies is in the number of deals. GlobalData figures show that there were four robotics deals in power in the second quarter of 2019. By the second quarter of 2021, that number was one.
Hiring patterns within the power sector as a whole are pointing towards an increase in the level of attention being shown to roles related to robotics. There were 469 actively advertised-for open power roles within the industry in the second quarter of this year, up from 194 in the same quarter last year.
It is also apparent from an analysis of keyword mentions in financial filings that robotics is occupying the minds of power companies to a lesser extent.
There have been 24 mentions of robotics across the filings of the biggest power companies in Q2 2021. This figure represents a decrease compared to the same period in 2019, when industry filings mentioned robotics 101 times.
Robotics is decreasingly fueling innovation in the power sector. There were, on average, 111 power patents related to robotics granted in the second quarter of 2019. That figure has fallen to 21 patents in the last quarter of 2020.
GlobalData’s unique Job analytics enables understanding of hiring trends, strategies, and predictive signals across sectors, themes, companies, and geographies. Intelligent web crawlers capture data from publicly available sources. Key parameters include active, posted and closed jobs, posting duration, experience, seniority level, educational qualifications and skills.