- Published: 31 May 2016 31 May 2016
The slump of innovation investments seen in the wind industry back in 2013 is coming to an end. A healthier global market and replenished coffers have inspired a surge in new technology and product development. The global market downturn saw a 34% drop in patent filings in 2013 versus 2012. That same time frame also saw an industry-wide drop from 5.2 to 2.3% in average research & development (R&D) expenditure as a percentage of revenue. The full breadth of patent filings for 2014 will become public in July of this year,(1) but they appear to be trending upwards, with an 18% improvement over 2013 so far. In the meantime, an evaluation of the R&D spend signals a rebound back up to an industry average of 4.7% of revenue based on analysis of 2015 data.
By Philip Totaro, Founder & CEO, IntelStor