By Callan Smith
Phoenix, AZ – (UPTICK Newswire – July 27, 2015) – UPTICK Newswire had the opportunity to speak with Iveda Solutions, Inc,, CEO David Ly regarding the gains the company has made with their Sentir video surveillance platform. Unlike standard surveillance cameras which require a technician and wiring, their platform is plug and play, utilizing the cloud for storage. The Iveda model is affordable and simple, starting with a camera, plugged into a router, a log in and surveillance anywhere, anytime, anyplace, worldwide, no boundaries.
Based on this model it is hardly surprising that Iveda’s reach has extended to developing countries such as Vietnam, where a platform installation was recently completed at four data centers for VNPT, the country’s largest telecom group, which has regional sales and support offices in all 63 provinces. Per Mr. Ly, “developing markets are keen and eager to adapt to technologies, they have the infrastructure, and when they have the technology that addresses their needs they can move forward.”
The VNPT purchase order will include Iveda ZEE plug and play cameras along with Sentir license fees per camera, providing a perpetual monthly recurring license fee per camera. Mr. Ly stated that following the data center installation and technology validation a purchase order will be issued in preparation for market launch. At just 200 cameras per province, which equates to 150,000 cameras annually, the potential hardware revenue is approximately 1.5 million per month, plus a monthly recurring Sentir license fee per camera. Beyond the VNPT agreement, Iveda recently executed a licensing and reselling agreement with the security surveillance manufacturing division of Viettronics, Vietnam’s largest electronics manufacturer. 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 will provide an annualized recurring license fee of $1.8 million.
Regarding Iveda Taiwan’s $544,000 contract with the Taiwan Stock Exchange, Mr. Ly said, “The Taiwan stock exchange is part of a larger cloud initiative to enhance public safety, security and efficiency through integrated intelligence, responding better to certain situations and occurrences, video has to be part of real solutions, processing data and reacting to data. Smart city initiatives are becoming more popular in developing countries, allowing Iveda to work directly with their infrastructure.”
It is clear that Iveda is poised for significant revenue growth during the remainder of 2015 and beyond, based on their recurring revenue model and software, which works efficiently with existing infrastructure. It was a pleasure speaking to Mr. Ly. Of course investors need to do their own due diligence, but Iveda is one to watch going forward. A company with great potential and a management team that is hard at work, qualities that lead to positive gains for share holders.