The global consumer industry experienced a 28% decline in the number of metaverse-related patent applications in Q1 2024 compared with the previous quarter. The total number of metaverse-related grants dropped by 10% in Q1 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Consumer: Patents Trends Q1 2024 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.
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Notably, the number of metaverse-related patent applications in the consumer industry was 96 in Q1 2024, versus 134 in the prior quarter.
The top five companies accounted for 69% of patenting activity
Analysis of patenting activity by companies shows that LG filed the most metaverse patents within the consumer industry in Q1 2024. The company filed 20 metaverse-related patents in the quarter, compared with 27 in the previous quarter. It was followed by GoerTek with 20 metaverse patent filings, Intel (17 filings), and Guangdong Oppo Mobile Telecommunications (5 filings) in Q1 2024.
Patenting activity was driven by the US with a 52% share of total patent filings
The largest share of metaverse related patent filings in the consumer industry in Q1 2024 was in the US with 52%, followed by China (23%) and Australia (1%). The share represented by the US was 27% higher than the 25% share it accounted for in Q4 2023.
For further understanding of GlobalData's Consumer: Patents Trends Q1 2024, buy the databook here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
