Best Buy is a leading multinational retailer specializing in consumer electronics and appliances. The company was established in 1966 under the name Sound of Music and rebranded as Best Buy in 1983. Its headquarters are located in Richfield, Minnesota, United States.Â
As of April 2023, Best Buy’s market capitalization was approximately $20 billion.Â
Best Buy‘s patent portfolio stands as a testament to its innovation and industry leadership, boasting 47 active patent families, 3 that are no longer active, and 2 pending. This impressive collection underscores Best Buy’s significant global influence and its unwavering commitment to advancing tea and coffee industry across various sectors.
Contact Our Expert for Assistance
This Pie Chart Shows the number of active, pending and dead patents.
Best Buy have 49 alive and 3 dead patent families.
Best Buy patents are filed in numerous countries, reflecting its international presence and the strategic importance of protecting its inventions across the globe. The Best Buy countries list 2023 includes major markets where Best Buy operates and maintains its technological leadership.Â
IPC Classification | Category |
Services specially adapted for wireless communication networks; Facilities therefor  | (H04W4) |
Telephonic communication systems specially adapted for combination with other electrical systems  | (H04M11) |
Automatic or semi-automatic exchanges  | (H04M3) |
Devices holding, supporting, or positioning, work or tools, of a kind normally removable from the machine  | (B23Q3) |
Separation of gases or vapours; Recovering vapours of volatile solvents from gases; Chemical or biological purification of waste gases, e.g. engine exhaust gases, smoke, fumes, flue gases or aerosols  | (B01D53) |
Machines or plants for applying liquids or other fluent materials to surfaces of objects or other work by spraying, not covered by groups B05B1/00-B05B11/00Â Â | (B05B13)Â |
Arrangements for collecting, re-using or eliminating excess spraying material  | (B05B14) |
Details of spraying plant or spraying apparatus not otherwise provided for; Accessories  | (B05B15) |
Pretreatment of surfaces to which liquids or other fluent materials are to be applied; After-treatment of applied coatings, e.g. intermediate treating of an applied coating preparatory to subsequent applications of liquids or other fluent materials  | (B05D3) |
Tools as parts of machines covered by this subclass  | (B21D37)  |
Best Buy patents are diverse, covering a range of IPC classifications from Services specially adapted for wireless communication networks; Facilities therefore (H04W4) to Tools as parts of machines covered by this subclass (B21D37). Best Buy stats reveal that the company not only focuses on current technological needs but also paves the way for future advancements.Â
Feature | (B23Q3) Shaping | (H04W4) Wireless Communication |
Focus of Innovation | Additive manufacturing processes, 3D printing materials | Wireless network technologies, mobile communication protocols |
Key Technological Advancements | Multi-material printing techniques, integration of sensors and electronics in printed objects, high-resolution and large-scale 3D printing | 5G and beyond (6G) technologies, Internet of Things (IoT) connectivity, low-power wide-area networks (LPWAN), beamforming and MIMO techniques for improved signal strength |
Top Patent Filing Subcategories  | Multi-material printing processes, 3D printing materials and formulations, high-resolution and large-scale 3D printing technologies. | 5G and beyond (6G) communication protocols, IoT device connectivity and security, low-power wide-area network technologies, beamforming and MIMO antenna systems. |
Impact on Industries | Manufacturing, aerospace, automotive, healthcare, construction | Telecommunications, mobile network operators, consumer electronics, automotive |
Projected Future Trends | Development of new 3D printing materials with unique properties, integration of AI and machine learning for optimized printing processes, standardization of 3D printing technologies for wider adoption | Continued advancements in 5G and exploration of 6G capabilities, massive growth of IoT devices and applications, focus on edge computing and network slicing for ultra-low latency communication, integration of artificial intelligence (AI) for network optimization and self-healing capabilities  |
Comparing different aspects of Best Buy patents, such as Shaping and Wireless Communication, highlights the company’s foresight in areas like machine learning and quantum computing. These trends are indicative of where Best Buy inventions are steering the future of technology.  Â
The Chart below depicts the patents with most number of forward citations. These patents are likely to be the source of advancement in the domain and can be considered as valuable and core inventions.Â
In conclusion, Best Buy’s robust patent portfolio, marked by high application success rates and significant forward citations, underscores its commitment to innovation and its strong position within the technology sector. Â
By focusing on key areas such as wireless communication, 3D printing, and advanced networking technologies, Best Buy continues to influence industry trends and pave the way for future technological advancements. This strategic approach not only enhances their market influence but also secures their role as a leader in the consumer electronics and appliances market.Â
Note: This Data is extracted from 2013 to 2023 and on the basis of patent families.
At TT Consultants, we're a premier provider of custom intellectual property (IP), technology intelligence, business research, and innovation support. Our approach blends AI and Large Language Model (LLM) tools with human expertise, delivering unmatched solutions.
Our team includes skilled IP experts, tech consultants, former USPTO examiners, European patent attorneys, and more. We cater to Fortune 500 companies, innovators, law firms, universities, and financial institutions.
Services:
Choose TT Consultants for tailored, top-quality solutions that redefine intellectual property management.
Contact Us
With 150 Million+ Patents and 220 Million+ Research Publications in its database, provides quick actionable insights into current trends and future outlook of technology through technology lens.Â
Our proprietary thesaurus that contains 3 billion+ technical words. This technical corpus helps our patent searchers quickly identify synonymous and interoperable words for comprehensive searches.
Request a Call Back!
Thank you for your interest in TT Consultants. Please fill out the form and we will contact you shortly
UNLOCK THE POWER
Of Your Ideas
Elevate Your Patent Knowledge
Exclusive Insights Await in Our Newsletter
Request a Call Back!
Thank you for your interest in TT Consultants. Please fill out the form and we will contact you shortly
