Iveda Completes Cloud Video Surveillance Platform Installation in Four Data Centers in Vietnam
IVEDA (MARKETWIRED) - 30 JUNE 2015
IVEDA (MARKETWIRED) - 30 JUNE 2015
The hardware revenue to Iveda is approximately $18 million on an annual basis. Iveda will also receive a perpetual monthly recurring Sentir license fee per camera on the Sentir platform.
Upon verification of the data center installation, the VNPT/Iveda agreement calls for VNPT to issue a purchase order for a minimum of 10,000 cameras (approximately $1.2 million), in preparation for the market launch of ZEE plug and play cloud cameras with 24/7 access to live and recorded video via VNPT's cloud.
In addition to VNPT, Iveda recently announced a Sentir licensing agreement with Viettronics, the largest electronics manufacturer in Vietnam. The agreement requires a minimum commitment of 50,000 cameras on the Sentir platform within the first 12 months of the five-year agreement. Iveda's license fee for Sentir is $3 per month per device managed on the Sentir platform; the first 50,000 cameras under this agreement will generate an annualized recurring license fee of $1.8 million.
Until Sentir's firmware is integrated into Viettronics' cameras later this year, Viettronics plans to use Iveda's ZEE cameras for its customers' near-term cloud video surveillance deployments, with current projects requiring 50,000 cameras which equates to approximately $6 million of hardware revenue.
"We are busy executing on the very large contracts we have in hand and in the sales process with other Vietnam Telecoms," said David Ly, chairman and CEO of Iveda. "I was born in Vietnam and to be able to communicate the value proposition of Sentir's scalability and flexibility to the Telecom management in Vietnamese, has been a bonus. We are optimistic that the Sentir platform will be the standard for video surveillance as a service in Vietnam, hence will be a reference worldwide." -
In addition to VNPT, Iveda recently announced a Sentir licensing agreement with Viettronics, the largest electronics manufacturer in Vietnam. The agreement requires a minimum commitment of 50,000 cameras on the Sentir platform within the first 12 months of the five-year agreement. Iveda's license fee for Sentir is $3 per month per device managed on the Sentir platform; the first 50,000 cameras under this agreement will generate an annualized recurring license fee of $1.8 million.
Until Sentir's firmware is integrated into Viettronics' cameras later this year, Viettronics plans to use Iveda's ZEE cameras for its customers' near-term cloud video surveillance deployments, with current projects requiring 50,000 cameras which equates to approximately $6 million of hardware revenue.
"We are busy executing on the very large contracts we have in hand and in the sales process with other Vietnam Telecoms," said David Ly, chairman and CEO of Iveda. "I was born in Vietnam and to be able to communicate the value proposition of Sentir's scalability and flexibility to the Telecom management in Vietnamese, has been a bonus. We are optimistic that the Sentir platform will be the standard for video surveillance as a service in Vietnam, hence will be a reference worldwide." -
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| Image of Sentir Platform from Iveda website |
June 25, 2015
Press Release Today
The Company is based in Mesa, Arizona with its subsidiary in Taiwan MEGAsys®
MESA, Ariz. (June 25, 2015) – Iveda® (OTCQB: IVDA), worldwide
enabler of cloud-based video surveillance through licensing its Sentir®
platform, today announced that MEGAsys® (Iveda Taiwan) has secured a new
US$544,000 contract to establish cloud video surveillance and access
control systems at the Information Center of the Taiwan Stock Exchange
in Taipei. The project is an expedited short-term project expected to be
completed in about three months, with an anticipated completion in
September 2015. The project is in the same facility as the US$1.4
million longer term contract announced by Iveda at the end of 2014 that
is currently in process and scheduled for completion within 2015.
With this on the same day from CNN Money Iveda's U.S. operation is concentrating on enabling worldwide service providers, via the Sentir software platform, to offer plug-and-play cloud video surveillance offerings to consumers and enterprise-level customers, while Iveda Taiwan engages in system integration including large "safe city" and private cloud deployment projects. This trend is consistent with demands for smart cities around the world that call for scalable centralized video management platforms to handle big video data.
With this on the same day from CNN Money Iveda's U.S. operation is concentrating on enabling worldwide service providers, via the Sentir software platform, to offer plug-and-play cloud video surveillance offerings to consumers and enterprise-level customers, while Iveda Taiwan engages in system integration including large "safe city" and private cloud deployment projects. This trend is consistent with demands for smart cities around the world that call for scalable centralized video management platforms to handle big video data.
About Iveda: Iveda® enables cloud video surveillance via its Sentir®
Software as a Service (SaaS) video management platform, utilizing
proprietary video streaming and Big Data storage technology that enables a
recurring revenue model by globally licensing Sentir to service
providers (e.g., telecommunications companies, datacenter operators,
ISPs, and cable companies), for plug-and-play cloud video offering to
their customers.
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| Iveda's Cloud Diagram |
As the public continues to embrace and adopt cloud computing, some traditional NVR (network video recorder), software companies, camera manufacturers, and security integrators have rushed to capitalize on the trend, positioning their solutions as ’Cloud’, but generally do not qualify by the true definition of cloud computing. This pervasive practice – known as ‘cloudwashing’ – is based on renaming existing products if it were Internet based in any manner.
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| David Ly, Founder & CEO |
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| Market Size and Forecast 2012-2020 |
Video surveillance refers to monitoring of activities in public areas,
businesses, or commercial buildings for real time viewing or capturing
image data. Video surveillance-as-a-service (VSaaS) comprises managing
and archiving of video footages captured by surveillance cameras onto
the cloud.
Video surveillance systems can be a powerful tool in
preventing or investigating a crime when installed in shopping malls,
multiplexes, automated teller machines, banks, airports and casinos.
What's Creating The Demand: Increasing terrorist activities and concerns about safety and security
are the major factors driving the demand for video surveillance systems
globally.
Report published 12 February 2015 - TransparencyMarketResearch.com
In 2009 Iveda was the first and only Qualified Anti-Terrorism Technology
provider under a formal SAFETY Act Designation by the US Department of
Homeland Security (DHS).
"As the mayor of the City of Mesa, I am
proud that Iveda Solutions, a Mesa-based company, has garnered this
highly coveted Safety Act Designation by the DHS. Having a company right
in our own backyard, providing a proactive security solution that is
certified and trusted by the DHS, is a big advantage for the city. With
all the budget cuts in law enforcement, Iveda Solutions can provide
real-time video surveillance in problem areas within the city and
provide assistance to our officers in the streets” says Scott Smith,
Mayor of Mesa, Arizona.
“The City of Mesa is already utilizing Iveda Solutions’ real-time surveillance services and plans to identify more areas that require critical infrastructure protection,” adds Smith.
“The City of Mesa is already utilizing Iveda Solutions’ real-time surveillance services and plans to identify more areas that require critical infrastructure protection,” adds Smith.
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