The “Metaverse” is a new trend in the tech industry. However, if you do not know what the Metaverse is, then click here to get a few details. A couple of brands are already releasing Metaverse-compatible devices. Some have a long list of patented devices. South Korean and Chinese companies are accumulating Metaverse hardware patents. The tech industry is looking for growth trends beyond mobile phones. This is what the Metaverse is all about. In the ranking of companies with the most Metaverse patents, LG, and Huawei continues to climb.
IDC, a well-known US market research company, predicts that by 2026, the global Metaverse market will reach $74.7 billion. This is a four-fold increase within five years. Specialized hardware plays a key role in accessing virtual spaces, such as the 3D headset unveiled by Meta last month.
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LG and Huawei make strong Metaverse patent growth
According to the Metaverse patent ranking compiled by Cyber Creative Institute, since 2016, LG has submitted the most Metaverse patent applications. For this reason, its rank climbs from 11th in 2010 – 2015 to first in 2022. Samsung Electronics came in second. Display colour schemes and semiconductors are among Samsung’s strong suits. The company quickly gained a foothold in core parts rather than headsets and other finished products. Meta comes third in terms of patents. The company also has a decent list of complete products.
Huawei, which didn’t make the top 20 in the previous survey, has now jumped to fourth place. The Chinese brand has a large number of patents related to image and display processing. In the fifth position is Microsoft while Intel and Apple are also among the six U.S. companies that made the top 10. ByteDance, TikTok’s parent company also grew its Metaverse development capacity through acquisitions.
Sony is the only Japanese company to make it into the top 10, coming in at number six. Taken together, the top 20 companies submitted a total of 7,760 metaverse patents. Of this number, the U.S. accounts for 57%. South Korea follows behind with 9% while China and Japan have 12% and 9% respectively.