The global retail industry experienced a 9% decline in the number of metaverse-related patent applications in Q2 2024 compared with the previous quarter. The total number of metaverse-related grants dropped by 10% in Q2 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Retail: Patents Trends Q2 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.
Notably, the number of metaverse-related patent applications in the retail industry was 326 in Q2 2024, versus 357 in the prior quarter.
The top five companies accounted for 15% of patenting activity
Analysis of patenting activity by companies shows that Snap filed the most metaverse patents within the retail industry in Q2 2024. The company filed 12 metaverse-related patents in the quarter, compared with 28 in the previous quarter. It was followed by Samsung Group with 11 metaverse patent filings, State Farm Mutual Automobile Insurance (11 filings), and Capital One Financial (9 filings) in Q2 2024.
Patenting activity was driven by the US with a 48% share of total patent filings
The largest share of metaverse related patent filings in the retail industry in Q2 2024 was in the US with 48%, followed by China (3%) and Japan (1%). The share represented by the US was 2% lower than the 50% share it accounted for in Q1 2024.
For further understanding of GlobalData's Retail: Patents Trends Q2 2024, buy the databook here.
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