Business
Iveda Signs Australian Reseller; Projects Over $5M for 2024 with Opportunity for Significant Recurring Revenue
Auzpack will deploy IvedaAI to improve safety and security of personnel and property MESA, Ariz.--(BUSINESS WIRE)-- Iveda® (NASDAQ:IVDA), the global solution
About this update from Iveda Solutions, Inc.
[{"type":"text","content":"\nAuzpack will deploy IvedaAI to improve safety and security of personnel and property\n\n\n MESA, Ariz.--(BUSINESS WIRE)--\nIveda® (NASDAQ:IVDA), the global solution for cloud-based AI, proudly announces Auzpack, an Australian supplier of industrial packaging products and services, as a newly signed reseller partner. Through this partnership, Auzpack will sell Iveda technologies to their customers and partners as part of their total logistics enhancement solution, projecting more than $5M in Iveda business throughout 2024 with significant recurring revenue related to these and future deployments in the coming years. As a premiere provider of steel drums––with appropriate components that meet regulatory and safety requirements for markets including food and beverage, waste and nuclear, lubricants and petrochemicals, agriculture, and specialty chemicals––Auzpack will deploy IvedaAI to enhance the safety and security of its personnel and critical machinery and property.\n\n\nAccording to Mordor Intelligence, the industrial packaging market size is currently estimated at $66.27B, and is expected to reach upwards of $83.45B by 2029. As an innovator in the rapidly growing space, Auzpack is a perfect candidate for IvedaAI’s video search and analytics platform and IoT sensors. Iveda’s proprietary AI technology will be deployed to enhance customers’ security, health, and safety, as well as overall operations. Iveda will employ existing IP cameras and video infrastructure while leveraging 6th generation AI video analytics engines for higher accuracy and lower total costs.\n\n\n“At Iveda, we continue to focus on creating a network of uniquely positioned resellers and distribution partners globally for our AI technology deployment and revenue growth,” said David Ly, Iveda CEO and founder. “We’re thrilled to bring Auzpack into the fold and are eager to work with our Australian partner to bring next-generation, AI-powered technologies to the continent and the surrounding regions.”\n\n\nAs part of this ongoing partnership, Auzpack will deploy IvedaAI across several different use cases, including:\n\n\n\nImproving the safety and security of workers using personal protective equipment (PPE) detection. The AI technology will automatically administer alerts when employees enter a hazardous or restricted area, or when individuals get too close to ...