Offshore wind is a promising clean and sustainable energy source, and the foundation of the offshore wind turbine is a crucial part that enables the operation in ocean environments. Therefore, this study investigates the general development condition and innovation opportunities in offshore wind turbine foundations using a patent analysis approach. It shows that the domain has evolved into the matured stage, with all countries, except China, having a downward trend of patent grants since 2010. The patenting activities in China are mainly driven by academic institutes, while Chinese companies show weak global competitiveness. Thus, this study suggests that China’s policymakers introduce incentives to help the industrial sector transform theoretical innovations into practical applications. Besides, the floating foundation was identified as an emerging technology at an early commercialization stage among all foundation types. Furthermore, a strengths, weaknesses, opportunities, and threats (SWOT) analysis was implemented based on a novel input-conversion-output of patent (ICOP) model to reveal the innovation condition of different foundation types in the regions of interest from competition and productivity dimensions. The domains with low competition and high productivity were recognized as investment opportunities, while those opposite were not recommended as ideal investment targets.