The metaverse is a common buzzword on the internet nowadays. But what is it really? Simply put, the metaverse is a virtual space that uses augmented reality (AR) and virtual reality (VR). People have digital avatars that allow them to interact with the digital environment and other users. The metaverse is accessible via mobile devices, desktops and extended reality headsets. Examples include Decentraland, The Sandbox, Metahero and HyperVerse. The metaverse – and the investment flowing into it – provides opportunities for companies looking to innovate in this rapidly evolving space. Like the Internet, it will transform business, technology, and art.
The concept of the metaverse is decades old but it is gaining popularity now. The video game industry was the first to establish it. Inventors can apply the best practices used for previous video game technology to prepare metaverse related patents. Major corporations like IBM, Microsoft, HTC Corp, Activision Inc, Qualcomm Inc, Nike, have already filed patents in the metaverse space.
Generally, patent applications related to the metaverse are filed in the following areas:
We carried out a preliminary patent search using the relevant keywords, IPC & CPC classes related to metaverse technology in PatSeer. The result set was analysed to find patenting trends, prominent countries, and top industries that have the most metaverse related patents.
The charts below provide a general outline of the metaverse space:
1. Patenting trends – Patent filings for the metaverse started almost a decade ago but have increased since 2019. The chart depicts applications plotted by their earliest filing dates and published grants in the last 10 years. Patenting activity in 2021-22 has increased fourfold compared to 2019-20.
2. Top countries – The chart below shows the hottest geographies where metaverse patents are being protected. Aside from the US, Asian countries are also prominent markets for metaverse technology. The metaverse market size is estimated to reach USD 800 billion by 2030, growing at a rate of 38-39% from 202c)
3. Prominent industries – Metaverse patents are being protected in the following industries.
The metaverse is going to be a profitable place for companies willing to understand and utilize its possibilities. Established companies are preparing to acquire licenses or file patents to enter the metaverse. Here are a few notable updates from key companies in this space:
Explore the high profitability of metaverse technology for companies. Our recent blog covers a decade of patenting activity in the space and highlights recent developments in this innovative technology sector.
