A New Wave of the '4th Industrial Revolution' and Increase in Patent Applications in the Real Estate Industry
[Asia Economy (Daejeon) Reporter Jeong Il-woong] Cases of integrating 4th Industrial Revolution technologies into the real estate service sector are increasing. Artificial intelligence recommends houses, smartphones allow users to explore the interiors, and blockchain is used for buying and selling homes. Recently, there has also been a noticeable rise in patent applications related to these services.
According to the Korean Intellectual Property Office on the 23rd, patent applications incorporating 4th Industrial Revolution technologies in the real estate service sector have steadily increased from 28 cases in 2016 to 29 in 2017, 42 in 2018, and 69 in 2019.
The proportion of applicants is highest among small and medium-sized enterprises at 43.8%, followed by individuals at 40.4%, others including industrial cooperation groups and research institutes at 11.3%, and large corporations at 4.4%.
From 2016 to 2019, patent applications for real estate-related services applying 4th Industrial Revolution technologies mainly focused on building control, cleaning, and safety management technologies using the Internet of Things and drones (73 cases, 40%).
Additionally, information provision technologies such as price prediction and commercial area analysis using big data and artificial intelligence (53 cases, 29%), blockchain technologies to prevent forgery and tampering of contract histories (28 cases, 16%), and pre-experience technologies incorporating virtual reality (27 cases, 15%) have been the main trends.
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Kim Hyun-soo, head of the E-commerce Examination Division at the Korean Intellectual Property Office, stated, “With the development of information and communication and 4th Industrial Revolution technologies, new technologies and ideas are increasingly being integrated into real estate-related services, and patent applications in this field are expected to continue rising for the time being.”
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