Trax Technology Solutions has patented a system that processes images from retail stores to automatically identify products on shelves. The system uses labels to determine product types and triggers actions based on the identified products. GlobalData’s report on Trax Technology Solutions gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on Trax Technology Solutions, Targeted advertising was a key innovation area identified from patents. Trax Technology Solutions's grant share as of April 2024 was 41%. Grant share is based on the ratio of number of grants to total number of patents.
Automated system for identifying products in retail store images
A recently granted patent (Publication Number: US11935376B2) discloses a system and method for processing images captured in a retail store to automatically identify products displayed on shelving units. The system includes at least one processor that receives images depicting shelving units with products and labels, correlates label depictions to determine product types, and initiates actions based on the identified products. The processor can process visual codes or perform optical character recognition on labels to determine product types and associated prices. Additionally, a computer program product embodied in a non-transitory computer-readable medium includes instructions for executing the method, which involves correlating label depictions, determining product types, and initiating actions based on the identified products.
Furthermore, the computer program product includes features such as updating a machine learning model for product recognition, generating user notifications for planogram incompliance events, and identifying deviations from store policies in product placement. The method also involves analyzing images captured by image sensors to identify new labels and generating instructions for store employees, including robot employees, to capture images of the new labels. The system and method aim to streamline product identification and improve compliance with store policies through automated image processing and analysis in retail environments.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
