Samsung, Huawei, LG lead in securing metaverse hardware patents: Reports

South Korean and Chinese companies are securing metaverse hardware patents, with LG and Huawei rising in the ranks with the most Metaverse patents as the electronics industry looks beyond smartphones, the media reported.

The global metaverse market is expected to reach $996 billion in 2030, registering a compound annual growth rate (CAGR) of 39.8 per cent.

The size reached a value of $22.79 billion in 2021, according to GlobalData, a leading data and analytics company.

Since 2016, LG Electronics has filed the most metaverse patent applications, moving up from 11th place from 2010 to 2015, reports Nikkei Asia.