The global retail industry experienced a 34% decline in the number of metaverse-related patent applications in Q3 2024 compared with the previous quarter. The total number of metaverse-related grants dropped by 7% in Q3 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Retail: Patents Trends Q3 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.
Smarter leaders trust GlobalData
Notably, the number of metaverse-related patent applications in the retail industry was 277 in Q3 2024, versus 421 in the prior quarter.
The top five companies accounted for 21% of patenting activity
Analysis of patenting activity by companies shows that Snap filed the most metaverse patents within the retail industry in Q3 2024. The company filed 34 metaverse-related patents in the quarter, compared with 18 in the previous quarter. It was followed by State Farm Mutual Automobile Insurance with 8 metaverse patent filings, eBay (6 filings), and Dover (6 filings) in Q3 2024.
Patenting activity was driven by the US with a 59% share of total patent filings
The largest share of metaverse related patent filings in the retail industry in Q3 2024 was in the US with 59%, followed by China (4%) and Japan (0.72%). The share represented by the US was 12% higher than the 47% share it accounted for in Q2 2024.
For further understanding of GlobalData's Retail: Patents Trends Q3 2024, buy the databook here.
Data Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
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.
