The Metaverse Patent Race Heats Up as Samsung, Huawei and LG Lead the Race LG has moved up from 11th place from 2010 to 2015. Samsung Electronic held its place in the second position whereas Huawei placed fourth with a number of its patents relating to image and display processing
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Metaverse has everyone excited as Chinese and South Korean companies are leading the way to secure metaverse patents. LG and Huawei are rising in the ranks with the most metaverse patents. The industry is looking beyond smartphones.
According to GlobalData, the metaverse market is expected to reach $996 billion by 2030 at a compound annual growth rate of 38.8 per cent. The market size in 2021 was approximately $22.79 billion in 2021.
The strength of South Korean technology companies have been display colour schemes and semiconductors. The companies have established its presence in core components rather than headsets as well as other finished products.
According to a report by Nikkei Asia, LG electronics has filed the most metaverse patent applications since 2016. LG has moved up from 11th place from 2010 to 2015. Samsung Electronic held its place in the second position whereas Huawei placed fourth with a number of its patents relating to image and display processing.
The top 20 companies submitted a total of approximately 7,760 patents. The companies from US account for 57 per cent with South Korea and China accounting for 19 per cent and 12 per cent respectively.
Meta, Microsoft, Intel and Apple were among the six American brands in the top 10 while Sony placed at sixth place was the only Japanese company.