The retail industry continues to be a hotbed of patent innovation. Activity is driven by data analytics, social responsibility, e-commerce, and supply chain risk management and the growing importance of technologies such as fintech, blockchain, and augmented, virtual and mixed reality, among other AI-based technologies. In the last three years alone, there have been over 59,000 patents filed and granted in the retail industry, according to GlobalData’s report on Virtual and augmented reality in retail: AR commerce. Buy the report here.

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According to GlobalData’s Technology Foresights, which uses over 126,000 patents to analyze innovation intensity for the retail industry, there are 50+ innovation areas that will shape the future of the industry.

AR commerce is a key innovation area in virtual and augmented reality

Augmented reality (AR) Commerce is the use of augmented reality technology for online retailing. It allows a shopper to virtually explore products and visualize how a product would fit into their environment, from the comfort of their home.

GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies.  According to GlobalData, there are 260+ companies, spanning technology vendors, established retail companies, and up-and-coming start-ups engaged in the development and application of AR commerce.

Key players in AR commerce – a disruptive innovation in the retail industry

‘Application diversity’ measures the number of applications identified for each patent. It broadly splits companies into either ‘niche’ or ‘diversified’ innovators.   

‘Geographic reach’ refers to the number of countries each patent is registered in. It reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.  

Patent volumes related to AR commerce

Company Total patents (2021 - 2023) Premium intelligence on the world's largest companies
Nant 333 Unlock Company Profile
Nuro 222 Unlock Company Profile
Walmart 210 Unlock Company Profile
Cox Enterprises 203 Unlock Company Profile
eBay 158 Unlock Company Profile
Trax Technology Solutions 137 Unlock Company Profile
Alibaba Group 107 Unlock Company Profile
Toshiba 89 Unlock Company Profile
Magic Leap 62 Unlock Company Profile
Flex 62 Unlock Company Profile
Amazon.com 60 Unlock Company Profile
Zazzle.Com 59 Unlock Company Profile
Capital One Financial 58 Unlock Company Profile
ADOBE 57 Unlock Company Profile
Nio 56 Unlock Company Profile
L'Oreal 45 Unlock Company Profile
LG 45 Unlock Company Profile
Metail 45 Unlock Company Profile
OrCam Technologies 42 Unlock Company Profile
Coupang 39 Unlock Company Profile
Samsung Group 36 Unlock Company Profile
Sony Group 35 Unlock Company Profile
Cubic 34 Unlock Company Profile
International Business Machines 32 Unlock Company Profile
Masco 28 Unlock Company Profile
Bank of America 27 Unlock Company Profile
NEC 27 Unlock Company Profile
Baidu 27 Unlock Company Profile
Omash.com 26 Unlock Company Profile
Advanced New Technologies 25 Unlock Company Profile
Midea Group 25 Unlock Company Profile
Videri 25 Unlock Company Profile
Indigo Agriculture 23 Unlock Company Profile
PayPal 23 Unlock Company Profile
Snap 22 Unlock Company Profile
Didi Global 22 Unlock Company Profile
Houzz 21 Unlock Company Profile
Huawei Investment & Holding 19 Unlock Company Profile
Toyota Motor 18 Unlock Company Profile
Painted Dog 18 Unlock Company Profile
adidas 17 Unlock Company Profile
Nokia 16 Unlock Company Profile
SureFire 16 Unlock Company Profile
Evryx Acquisition 16 Unlock Company Profile
Mercari 16 Unlock Company Profile
Tencent 15 Unlock Company Profile
JD.com 15 Unlock Company Profile
IP 14 Unlock Company Profile
VistaPrint 11 Unlock Company Profile
Leap Tools 11 Unlock Company Profile

Source: GlobalData Patent Analytics

The leading players in the AR commerce space in terms of patents filed for the retail industry are Nant, Walmart, Nuro, Cox Enterprises and eBay. Walmart announced new augmented reality features on the Walmart app designed to make shopping easier. The addition of AR allows customers to view furniture and home decor items in their spaces with a few simple swipes on their phones. Walmart app users are able to view how a TV will look in their homes, so they can find the perfect fit for their space.

In terms of application diversity, Cox Enterprises is the leading company, while Nio and SureFire are in the second and third positions, respectively.

In terms of geographic reach, Nuro leads the pack followed by Nio and Nant.

Product visualizations, virtual showrooms, and interactive product demos are the main applications of AR commerce in the retail industry. The biggest advantage of AR commerce is that it allows customers to experience products online before making a purchase, allowing them to get a first-hand experience of the look and feel of the product in their own environment. This allows customers to make informed decisions, significantly reducing the need for returns or replacements. 

To further understand the key themes and technologies disrupting the retail industry, access GlobalData’s latest thematic research report on Virtual & Augmented Reality in Retail.

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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.