The Metaverse space is a sensation of today’s time. Every other company is trying to create its presence in this space. As with the development of this virtual reality, the brands can also enhance their growth. Different Chinese and South Korean companies are top of the list of holding patents for the Metaverse.
As per different media reports, the electronics industry has now taken a step further from smartphones. At present, the brands are looking forward to developing mixed-reality products. Among such brands, LG, Huawei, and Samsung are the top names. Read this blog to find out more about this aspect.
Why Is everyone crazy about the Metaverse?
The Metaverse space is creating hype around the market and everyone seems to be interested in it. Gen Z has the probable chance of accepting it in a mass amount because they spend their maximum time online. The Metaverse space will have more young audiences, as predictions are flying around.
This is the case because social media has become an important part of everyone’s life. Even you may find it hard to go through your day without viewing your phone or getting any updates.
The concept of Metaverse is an addition to this virtual space. And so people find it more appealing. With Metaverse, you will get the best experience out of gaming, shopping, entertainment, and much more. It comes with a wide range of promises for both users and brands. Both parties are holding onto Metaverse to explore it and get the most out of it!
For many, virtual reality is a sort of dream come true thing. Also, with the correct strategy and tools, Metaverse can turn into a user’s haven where they can express themselves. Due to all these factors, people are becoming crazy for Metaverse to include in every sphere!
Metaverse to reach $996 billion by 2030
The market of Metaverse is getting huge attraction and growing at a gradual scale. Experts are expecting that this market will reach around $996 billion by 2030. While the annual growth rate of this space is around 39.8%.
Different studies have been conducted on this aspect. The report of Nikkei Asia, LG Electronics is on the top of the list. With the maximum number of Metaverse patents for its applications, it is at the top. It has been applying for patents for its products since 2016! From 2011 to 2015, this brand was in the 11th position and since 2016, moved to first place.
While the second position in the list is held by Samsung as per the reports. Because South Korean brands excel in making semiconductors and display schemes. With such products, these brands are now showing more awareness about improving their technology to make Metaverse headsets.
As we move further, we will find Meta in the third position. And, Huawei is the fourth one on the list of companies holding a Metaverse patent. Most of their parents are associated with display and image processing.
And, Apple is in the last position in this race. Though it may seem a bit surprising, it is indeed in the last position. But, rumors are spreading around that the brand is developing its Metaverse platform! And, it has been working on Reality Pro, which is its mixed-reality headset, for some time now.
All these brands that are holding patents for Metaverse are a form of investment for them. These will bring them higher returns in the future and will prove profitable for them.
There seems to be a race in which company will have the maximum Metaverse patents at present. All these tech brands are in a rush to have their patents and are applying for a huge amount of patents every year.
Despite this huge number of patents, very few are ever used or are useful. Make sure to check out the details before investing any amount. Being careful before investing in Metaverse coins or other aspects is very important. Because, with a slight mistake, you may end up losing a huge amount!
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