6. Immersive technology for the built world

WEF Emerging Technology 2024

Immersive technology for the built world

Combining computing power with virtual and augmented reality, these technologies promise rapid improvements in infrastructure and daily systems. This technology allows designers and construction professionals to check for correspondence between physical and digital models, ensuring accuracy and safety and advancing sustainability.

Competitive Environment in immersive technologies for the built world

Companies and universities with conceptually close patents to the technology definition

Identification of competitive environment

The chart shows the competitive environment in the WEF technology based on technological similarity of patents. The EconSight uses cutting-edge AI-based patent analysis to identify conceptually close patents to the technology definition. The relevance of the companies and universities shown is calculated as the similarity of their patents compared to the technology concept. The closer to the core, the higher the similarity. An identified patent is measured by the distance of its closest text element compared to the target concept. A patent owner is positioned according to its closest patent’s distance. The environment further categorized into segments. A distinction is made between small and large companies on the basis of their total patent portfolios. The small and specialised companies can be identified, as well as their potential (exit) partners. Universities and research institutions are also separated.

Countries in technology
(number of active patents in technology in 2024 country by inventor address)

Patent activity by country

The chart shows the identified patents in the technology by country, based on the addresses of the inventors. The inventors are named on the patents with their addresses and can therefore be associated with their home countries. If inventors from different countries are named on the patent, it is associated with each named country. This indicator shows where the invention was actually made and where the technological expertise is located.

Development of patent publications
(publications per year)

Patent activity by publication year

The chart shows the identified patents in the technology as a time series by publication year. This indicator shows, on the one hand, the novelty value of the technology, i.e. the time from which the first significant numbers of patents have been published. On the other hand, the indicator shows the dynamics of development. In emerging technologies, patent publications should increase significantly over time. The current year 2024 is not yet complete, therefore the numbers are lower than in previous years.

EconSight comment and short analysis

Immersive Reality can be considered as a next layer of Virtual Reality for construction and architecture but especially suited for BIM Building Information modelling and related technologies. Since VR is already quite intensively used in the real estate, office room and hospital designing markets, we have found  many companies well known for VR technology, such as Magic Leap or Bentley Systems with this concept. We also found companies transforming from CAD to VR, such as Autodesk or Dassault Systems. Some unexpected players such as Honeywell, IBM or Accenture are also active in the proximity environment for various reasons. It is however remarkable that very many small players are active in this field, such as XYZ Reality, an expert for construction workflow de-risking, as one example. Larger universities however seem to be less interested in such commercial applications of Virtual Reality. Only smaller and specialist institutions (example KICTE Korea Institute of Construction Technology) have been found.

Background

  1. Textual concepts are generated for each WEF technology.
  2. The concepts are applied to our full-text AI-RAG (retrieval augmented generation system) which is optimised for highest precision patent analysis to identify the semantically close patents for each technology.
  3. A competitive environment with the most relevant companies and research institutions is developed where the relevance is calculated as the similarity of their patents compared to the technology concept. The closer to the technology core, the higher the similarity. Large corporates, small specialists and research institutions are shown separately.

Immersive technology for the built world: Combining computing power with virtual and augmented reality, these technologies promise rapid improvements in infrastructure and daily systems. This technology allows designers and construction professionals to check for correspondence between physical and digital models, ensuring accuracy and safety and advancing sustainability.

This invention relates to an augmented reality (AR) system designed to enable construction professionals to validate the correspondence between physical structures and digital building models in real-time. The system uses AR headsets or devices to overlay digital models onto physical construction sites, allowing users to identify discrepancies, ensure alignment with design specifications, and detect potential issues early in the construction process. The system enhances accuracy and safety, reducing the likelihood of costly errors and rework, and contributes to more sustainable construction practices by minimizing material waste.

The present invention describes a virtual reality (VR) platform that facilitates collaborative design and simulation of infrastructure projects. The platform allows multiple users, including architects, engineers, and construction managers, to interact with detailed 3D models of infrastructure projects in a fully immersive environment. Users can walk through virtual representations of buildings, bridges, and other structures, making real-time adjustments to designs and simulating different scenarios to test structural integrity, environmental impact, and sustainability. This VR platform improves communication among stakeholders, accelerates decision-making, and ensures that the final design aligns closely with project goals.

This invention presents an integrated virtual and augmented reality (VR/AR) system for planning and managing sustainable construction projects. The system combines real-time environmental data with digital building models to simulate the impact of construction activities on the surrounding environment. Using VR, stakeholders can explore different design options and their potential effects on energy efficiency, material usage, and environmental footprint. The AR component allows construction professionals to visualize these sustainability metrics on-site, ensuring that the construction process adheres to green building standards and minimizing the project’s overall environmental impact.

The invention describes an augmented reality (AR) system specifically designed for quality control on construction sites. The system uses AR devices to project digital blueprints and construction plans onto physical structures, enabling workers and inspectors to verify that the construction work matches the design specifications in real-time. The system can automatically detect deviations from the plan, such as misaligned walls or incorrect dimensions, and alert users to potential issues before they become significant problems. This AR-based quality control system improves construction accuracy, enhances safety, and supports sustainable building practices by reducing the need for rework.

This patent describes an immersive mixed reality system that combines augmented reality (AR) and virtual reality (VR) for the maintenance and upgrade of infrastructure. The system allows maintenance teams to visualize complex infrastructure components, such as piping, electrical systems, and structural supports, in a mixed reality environment. Users can simulate and plan maintenance tasks in VR, then use AR on-site to guide the execution of these tasks with precision. The system also provides real-time data on the condition of infrastructure components, helping to prevent failures and extending the lifespan of critical infrastructure. This approach ensures that maintenance is performed efficiently, safely, and sustainably.

precision-investment

Further information on our analysis approach and how we identify the most exciting startups and newcomers in highly specialised technology domains and evaluate them for private equity and venture capital can be found in our Precision Investing approach.

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