The race to rule Meta is on. Asian Tech Giants like Samsung will rule the Metaverse and how!
The term “metaverse” which is now more of an idea than an actual location, refers to a large, immersive digital universe that is inextricably linked to the real world. While the gaming industry has made innovations, the metaverse is poised to have an impact on a wide range of facets of our life. Samsung will rule the Metaverse or is it Meta? The race is on.
Few people comprehend the complex struggle for control of the future world, yet it will have an impact on how we live in the years to come. While the early metaverse can seem confusing to a visitor for the first time, significant investment and new technologies are suddenly making a far more advanced version accessible.
We must now address the crucial question of who will be in charge. Businesses are vying for control of the Metaverse. Although Facebook’s decision to change its name to Meta was a highlight, huge Giants like Samsung, LG, and Huawei are also graciously competing in the “Rule Meta” Race.
In an effort to foster its new growth engines, Samsung Electronics is speeding up its research and development of technologies related to the metaverse, joining the rising number of international IT companies that are placing significant bets in the new industry. Han Jong-Hee, vice chairman of Samsung stated, that they are going to build Samsung’s metaverse.
As the electronics industry goes beyond smartphones, South Korean and Chinese businesses are gaining patents for metaverse gear, with LG and Huawei climbing in the ranks with the most patents. The global metaverse market is anticipated to increase at a compound annual growth rate (CAGR) of 39.8% to $996 billion in 2030.According to Nikkei Asia, LG Electronics has filed the most metaverse patent applications since 2016, jumping up from 11th rank from 2010 to 2015.Samsung Electronics remained in second place.
The capabilities of South Korean businesses, which have quickly developed a foothold in core components rather than headsets and other finished products, include semiconductors and display colour schemes.
With many picture and display processing-related patents, Huawei came in fourth in the ranking. The day is not far when Metaverse will weave into our day to day lives easily. When we stop staring at screens, this will quicken. While the early metaverse is a shared virtual world we visit, augmented and virtual reality technology will eventually allow us to access it as we go about our daily lives. The struggle to control our new digital frontier has intensified in this environment. Despite this, the metaverse undoubtedly has a lot of untapped potential. The struggle to control the metaverse is still very much ongoing. In actuality, it has just started