3 Industries Where Virtual Reality Inventions are Making a Difference

 


Virtual reality is commonly talked about in technology circles. From architecture to sports to retail to healthcare, it has a wide range of applications. The current market size of VR is around $26 billion. By 2027, it will reach $85 billion with a growth rate of 23% CAGR.

Let us assess the major applications of VR technology, their key players, market size and significant patent filings.

a) Healthcare

Healthcare was one of the first industries to adopt VR extensively. It is being used in medical training, surgical robotics, mental health treatment and pain management. The VR healthcare market is projected to reach $6 billion globally by 2029 with a CAGR of 38%. To find out which companies have been actively filing patents in the last 5 years, we conducted a patent search in PatSeer. The chart below represents our findings.

Samsung is taking the lead in filing patents for inventions like predictive analysis for interactive telehealth, data processing, electronic devices for providing health information, and transmitting video content, etc.

 

Here is a list of a few important patents in VR healthcare from the key assignees:

1) US2020327986A1 (Samsung) describes a system and method for providing an interactive telehealth diagnosis, including classification and recognition of health data, recommendation analysis for health, as well as cognitive telehealth visualization.

 2) US2020178885A1 (XR Health) reveals a method of adjustment for training protocols in VR or AR environments based on biofeedback.

 b) Automotives

VR in the automotive industry saves millions by reducing the number of prototypes built per vehicle line. VR applications for vehicle design include virtual prototyping and simulation technology. The global automotive VR industry market size was $700 million in 2020 and is expected to reach $14 billion in the next 5 years, growing at a rate of 45%.

We carried out a patent search in PatSeer and the chart below shows key companies actively filing patents in the last 5 years.

Some of the important patents in the VR automotive industry from the key assignees are:

1) US2022138978A1 (Bosch) describes a system and method with an end-to-end two-stage depth estimation deep learning framework that takes one spherical color image and estimates dense spherical depth maps.

2)   US2020026922A1 (Microsoft) reveals a computer-implemented technique for selectively alerting the user of objects in a physical environment during an interaction with a virtual environment.


Learn more about the patent landscape in this field by reading the full article - 3 Industries Where Virtual Reality Inventions are Making a Difference.


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