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MODCAM

Modcam – vision sensors with onboard analytics for retail customer analysis

Total Cost €

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EC-Contrib. €

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Partnership

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 Outcomes and results

 MODCAM project word cloud

Explore the words cloud of the MODCAM project. It provides you a very rough idea of what is the project "MODCAM" about.

solutions    pixels    telecoms    sensors    charging    optimize    powerful    zones    pain    flow    expertise    operations    becomes    unlocking    ebit    countries    1600    provisional    sensor    employees    revenue    patents    points    paying    costing    conduct    speed    stores    solution    markets    annually    manually    first    chains    device    promotion    retail    bi    companies    proprietary    300    ikea    batch    senior    negotiations    amount    customers    hot    lower    eleven    data    full    roll    visitors    statistical    network    2    demographic    2020    insights    holds    sek    modcam    world    200    advances    least    earns    sales    capture    effectiveness    camera    commercial    generation    bandwidth    feasibility    barrier    retailer    vision    translates    17m    server    combining    store    analytics    6816    hitting    swedish    prepare    class    customer    50    remarkable    mobile    immense    queue    efficient    gather    2013    sme    market    compact    computer    retailers    launched    fee    video    75m    counts    complete    26    patent    remote    professionals    cold    monthly    distributed    track   

Project "MODCAM" data sheet

The following table provides information about the project.

Coordinator		 MODCAM AB 

Organization address
address: BREDGATAN 4
city: MALMO
postcode: 21130
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.
 Coordinator Country Sweden [SE]
 Project website http://www.modcam.com
 Total cost 71˙429 €
 EC max contribution 50˙000 € (70%)
 Programme 1. H2020-EU.2.1.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT))
2. H2020-EU.2.3.1. (Mainstreaming SME support, especially through a dedicated instrument)
 Code Call H2020-SMEINST-1-2016-2017
 Funding Scheme SME-1
 Starting year 2017
 Duration (year-month-day) from 2017-01-01   to  2017-06-30

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    MODCAM AB SE (MALMO) coordinator 50˙000.00

Map

 Project objective

Advances in camera and sensor technology are unlocking remarkable opportunities for in-store retail customer behaviour analysis, enabling retailers to optimize operations based on rich data insights. Using vision sensors, retailers can track customer flow to determine hot and cold zones, promotion effectiveness and queue speed, and gather demographic data. This is far more effective than methods used by chains such as IKEA, which still counts visitors manually bi-monthly, costing €1600. The first generation of retail analytics technology is now hitting pain points. Video holds an immense amount of data, and analytics are currently conducted on a remote server, meaning network bandwidth becomes a barrier. Modcam has developed a cost-efficient technology solution for retail analytics using powerful proprietary vision sensors that can conduct video analytics in the device. This means only statistical information is distributed over the network rather than pixels. Using Modcam, a retailer can set up a complete customer analytics system for at least 50% lower costs than current solutions. Modcam is a Swedish-based SME that launched in 2013 by 4 senior technical professionals combining world-class expertise in computer vision and mobile telecoms. It has obtained one patent and two provisional patents for its methods, and has already produced a commercial batch of its compact sensors. It has four paying customers, and is in advanced negotiations with eleven companies including IKEA and H&M, with potential full-scale roll-out in up to 6816 stores. Modcam earns revenue by charging a monthly fee of between 200 SEK and 300 SEK per device. It aims to capture 2% of the retail analytics market in 4 countries by 2020, which translates into 26,000 unit sales annually. This will result in revenue of 75M SEK, an EBIT of 17M SEK and 40 employees. This feasibility study will prepare Modcam to scale up across new European markets.

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The information about "MODCAM" are provided by the European Opendata Portal: CORDIS opendata.

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