Iveda Awarded $1.7M Contract Expansion with Taiwan Government Agency

Global AI company to deliver 45 additional locations atop the 61 announced in 2022

  • Aug 10, 2023

IVDA, a global solution for cloud-based AI video search and sensor technologies, today announces a newly signed contract with a government agency in Taiwan worth approximately $1.7 million gross revenues. Through this contract, Iveda will provide networking equipment and interprocess communication (IPC) computers to 45 new locations nationwide, assisting the agency in designing and installing a state-of-the-art video command, communication and control system.

All additional locations are anticipated to be completed by year end and will be overseen and managed by Iveda Taiwan. This project deployment has the potential for an additional 194 locations to be put under contract in the future, as there are a total of 300 locations countrywide. Iveda is unable to disclose the agency identity due to the sensitivity of the project confidentiality.

“The company is poised to continue its momentum for the second half of 2023, all while effectively improving security operations and quality of life for the people of Taiwan. We are eager to continue strengthening our partnerships in the region through this contract and beyond.”

According to Markets and Markets, the global video surveillance market is estimated to reach $76.4 billion by 2027 –– and Iveda is well positioned to follow alongside this upward trajectory.

“As the need for robust, AI-powered video surveillance continues to expand worldwide, Iveda’s technology is keeping citizens, communities, and government personnel safe,” said David Ly, Iveda CEO and founder. “The company is poised to continue its momentum for the second half of 2023, all while effectively improving security operations and quality of life for the people of Taiwan. We are eager to continue strengthening our partnerships in the region through this contract and beyond.”

“Iveda Taiwan has experienced impressive growth in the past year from new and returning, long-term, clients,” said Ing-Hang Shiau, president of Iveda Taiwan. “The Taiwan government agency client understands the need for state-of-the-art, comprehensive AI security solutions and this strategic contract expansion is the proof of that mindset.”

Featured

  • Maximizing Your Security Budget This Year

    Perimeter Security Standards for Multi-Site Businesses

    When you run or own a business that has multiple locations, it is important to set clear perimeter security standards. By doing this, it allows you to assess and mitigate any potential threats or risks at each site or location efficiently and effectively. Read Now

  • Survey: 72% of CISOs Are Concerned Generative AI Solutions Could Result In Security Breach

    Metomic recently released its “2024 CISO Survey: Insights from the Security Leaders Keeping Critical Business Data Safe.” Metomic surveyed more than 400 Chief Information Security Officers (CISOs) from the U.S. and UK to gain deeper insights on the state of data security. The report includes survey findings on various cybersecurity issues, including security leaders’ top priorities and challenges, SaaS app usage across their organization, and biggest concerns with implementing generative AI solutions. Read Now

  • New Research Shows a Continuing Increase in Ransomware Victims

    GuidePoint Security recently announced the release of GuidePoint Research and Intelligence Team’s (GRIT) Q1 2024 Ransomware Report. In addition to revealing a nearly 20% year-over-year increase in the number of ransomware victims, the GRIT Q1 2024 Ransomware Report observes major shifts in the behavioral patterns of ransomware groups following law enforcement activity – including the continued targeting of previously “off-limits” organizations and industries, such as emergency hospitals. Read Now

  • OpenAI's GPT-4 Is Capable of Autonomously Exploiting Zero-Day Vulnerabilities

    According to a new study from four computer scientists at the University of Illinois Urbana-Champaign, OpenAI’s paid chatbot, GPT-4, is capable of autonomously exploiting zero-day vulnerabilities without any human assistance. Read Now

Most   Popular

Featured Cybersecurity

Webinars

New Products

  • FEP GameChanger

    FEP GameChanger

    Paige Datacom Solutions Introduces Important and Innovative Cabling Products GameChanger Cable, a proven and patented solution that significantly exceeds the reach of traditional category cable will now have a FEP/FEP construction. 3

  • Automatic Systems V07

    Automatic Systems V07

    Automatic Systems, an industry-leading manufacturer of pedestrian and vehicle secure entrance control access systems, is pleased to announce the release of its groundbreaking V07 software. The V07 software update is designed specifically to address cybersecurity concerns and will ensure the integrity and confidentiality of Automatic Systems applications. With the new V07 software, updates will be delivered by means of an encrypted file. 3

  • Luma x20

    Luma x20

    Snap One has announced its popular Luma x20 family of surveillance products now offers even greater security and privacy for home and business owners across the globe by giving them full control over integrators’ system access to view live and recorded video. According to Snap One Product Manager Derek Webb, the new “customer handoff” feature provides enhanced user control after initial installation, allowing the owners to have total privacy while also making it easy to reinstate integrator access when maintenance or assistance is required. This new feature is now available to all Luma x20 users globally. “The Luma x20 family of surveillance solutions provides excellent image and audio capture, and with the new customer handoff feature, it now offers absolute privacy for camera feeds and recordings,” Webb said. “With notifications and integrator access controlled through the powerful OvrC remote system management platform, it’s easy for integrators to give their clients full control of their footage and then to get temporary access from the client for any troubleshooting needs.” 3