Led by internet behemoths Tencent and Baidu, China’s Big Tech firms are leading the way in the filing of patent applications for virtual reality (VR) and augmented reality (AR) technologies, reports the South China Morning Post. Chinese companies comprise over half of the world’s top 10 patent filers, showing a strong desire to stake a strong claim to the emerging metaverse market.
Tencent, which runs the world’s biggest video gaming business by revenue and China’s largest social media platform, filed a total of 4,085 VR and AR patent applications in 2020 and 2021 to rank second in the world behind the 4,094 filings made by Samsung Electronics in the same two-year period, according to a report published this week by Chinese-language intellectual property information portal IPRdaily, citing data from research and development analytics provider PatSnap.
Chinese internet search market leader Baidu, which launched its metaverse app Xi Rang in December, took the No. 3 spot with a total of 3,094 VR and AR patent applications in the past two years, according to the IPRdaily report.