According to a survey by Nikkei Asia, LG Electronics has filed the most number of metaverse patent applications since 2016, moving up from 11th place between 2010 to 2015. Samsung Electronics held its position in second. Huawei was ranked fourth with various patents related to image and display processing.
According to the report, Meta, Microsoft, Apple, and Intel were among the six American companies on the top 10 list, with Meta at third, Microsoft at fifth, and Sony as the only Japanese company in the sixth position.
Tokyo, South Korean, and Chinese companies like LG, Samsung, and Huawei are rising in ranks with the most number of Metaverse patents as the electronics industry is looking beyond smartphones.
Semiconductors and display color schemes are among the strengths of South Korean companies, components rather than headsets and other finished products.
The top 20 companies filed a total of 7,760 patents, with the United States accounting for 57%, South Korea at 19%, and China at 12%. Japanese firms accounted for 8%, said the report.
The global metaverse market is expected to touch $996 billion in 2030, reaching a CAGR of 39.8%. In 2021, the size reached a value of $22.79 billion, according to GlobalData, a leading data and analytics company.