The global automotive industry experienced a 37% decline in the number of metaverse-related patent applications in Q3 2024 compared with the previous quarter. The total number of metaverse-related grants rose by 4% in Q3 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Automotive: 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.
Notably, the number of metaverse-related patent applications in the automotive industry was 602 in Q3 2024, versus 953 in the prior quarter.
The top five companies accounted for 19% of patenting activity
Analysis of patenting activity by companies shows that Snap filed the most metaverse patents within the automotive industry in Q3 2024. The company filed 42 metaverse-related patents in the quarter, compared with 53 in the previous quarter. It was followed by Toyota Motor with 22 metaverse patent filings, Magic Leap (19 filings), and Qualcomm (15 filings) in Q3 2024.
Patenting activity was driven by the US with a 50% share of total patent filings
The largest share of metaverse related patent filings in the automotive industry in Q3 2024 was in the US with 50%, followed by China (11%) and Japan (7%). The share represented by the US was 13% higher than the 38% share it accounted for in Q2 2024.
For further understanding of GlobalData's Automotive: Patents Trends Q3 2024, buy the databook here.
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