Quadrant Knowledge Solutions recent study analyses market dynamics and opportunities of internet of things (IoT) in retail industry. This study provides detailed strategic market insights about several IoT applications in retail including video analytics, digital signage, energy optimization, location-based services, RFID solution, smart mirrors, smart payment, smart shelves and doors, and smart vending machines.
According to Quadrant’s latest research “Internet of Things in Retail Market Outlook”, IoT and smart devices are transforming retail performance with improved customer experience and creation of new revenue stream. Video analytics play an important role in providing advanced customer intelligence by utilizing video cameras inside retail stores. Several leading retailers have already adopted advanced video analytics to improve customer experience. As more successful case studies surface together of growing adoption of smart IoT devices by retailers, video analytics will find an increase in adoption for gaining competitive advantage.
As per the research findings, Quadrant Solutions identified Prism amongst the leading providers of video analytics solution to retail industry for advanced visualization and business intelligence. Prism video analytics solution helps retailers in providing advanced customer intelligence, manage branding, promotions, and optimize retail operations. It enables users to view in-store analytics data from anywhere through mobile devices and laptops. Retailers can utilize Prism video analytics intelligence for visual merchandising across multiple stores across geographic locations and understand how customer interacts with products.
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