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Furthemore, the stock gained significantly after the company announced the submission of a trademark application for “WIMI METAVERSE” on October 29. WIMI expects the trademark to help the company further improve its intellectual property protection system, maintain the leading position in technology, and enhance its core competitiveness. Also, the approval of its HoloPluse LiDAR to enter the U.S. market has helped the stock trade higher so far this week. Shares of WIMI have gained 38.9% in price over the past five days.
The AR industry is growing at a rapid pace with its fast adoption across several industries. Indeed, the AR market is expected to expand at a 43.85 CAGR from 2021 – 2028. Also, the growing market for smartphones, smart glasses, and other handheld and wearable devices is driving the adoption of mobile AR technology. However, the industry is small and is still developing. Metaverse is a broad term. It generally refers to shared virtual world environments, which people can access via the internet.
