MESA, Ariz. (December 23, 2019) – Iveda® (OTCMKTS:IVDA), worldwide provider of IvedaAI™ video analytics, IoT platform, smart devices and the Sentir® cloud-based video surveillance platform, today announced collaboration with People Power, a leading IoT (Internet of Things) software company specializing in senior care, security and energy management. Iveda will supply the company with devices for an important senior care research project. The hardware componentry will enable research led by People Power, funded by the National Institute on Aging (NIA), part of the National Institutes of Health (NIH), and in collaboration with the University of California, Berkeley, Psychophysiology Laboratory.
Iveda will enable People Power’s advanced senior care solutions with an IoT gateway, entry, motion and water leak sensors, and a wirelessly connected one-touch button for system control and emergency notifications. The senior care device portfolio also includes a bed sensor and a wearable device that together track and monitor rest and activity cycles. Iveda’s gateway, acting as a geographic area hub, features an IoT Cluster Controller that links all IoT devices to maintain a single point of failure allowing the gateway to control and communicate with many IoT devices. People Power’s initial order for hundreds of IoT gateways and thousands of smart sensors and devices to support the program will be shipped in January 2020.
“People Power is a new sales channel for Iveda. Every new and existing senior care customer potentially needs our gateway, smart sensors and devices. We are fortunate to partner with People Power who truly understands the needs of the growing senior care market,” said David Ly, CEO of Iveda. “Combining Iveda’s smart home devices with People Power’s IoT System delivers a powerful combination that could deliver exponential growth in the coming year.”
Iveda’s entry into the consumer and institutional senior care markets through People Power could be lucrative.
“Every day, 10,000 Americans turn 65 and 90% of them will prefer to age at home. Baby boomers are projected to have 70% of all U.S. disposable income over the next five years, and will inherit about $15 trillion in the next 20 years,” said Gene Wang, CEO and cofounder of People Power Co. “With Iveda’s industry-leading IoT devices and People Power’s advanced AI technology, we will deliver valuable senior care services that send alerts when emergency situations such as falls are detected, with the ability to monitor sleep quality and medication adherence, and to connect seniors with family and friends to reduce loneliness and improve quality of life.”
With the world’s aging population, new technology is a crucial element in senior care where growing demand may outstrip the availability of full-time caregivers. Illustrating industry adoption of People Power’s advanced solutions featuring Iveda’s devices, People Power recently announced a partnership with TheraCare, Inc., a leading caregiving agency focused on safe home environments and customized care for seniors and persons with disabilities.
“Senior care is a new technology application for Iveda. Current collaboration with People Power also includes utilizing our IvedaAI intelligent video search technology for real-time alerts and decision-making support for smart buildings and smart city projects,” said Ly.
Iveda and Sentir are registered trademarks of Iveda Solutions, Inc. IvedaAI is a trademark of Iveda Solutions, Inc. All other trademarks are property of their respective owners.
Iveda® (OTCMKTS:IVDA) specializes in IoT platforms that offer service providers a turn-key cloud video surveillance system, smart sensors and intelligent video search technology. Iveda utilizes proprietary command center, big data storage and deep-learning algorithms. Iveda has a SAFETY Act Certification from the U.S. Department of Homeland Security as a Qualified Anti-Terrorism Technology Provider. Headquartered in Mesa, Arizona, with a subsidiary in Taiwan, Iveda is publicly traded under the ticker symbol “IVDA.” For more information call (480) 307-8700 or visit www.iveda.com. To follow Iveda visit www.facebook.com/ivedasolutions, www.twitter.com/ivedasolutions or www.linkedin.com/company/iveda-solutions.
About People Power
An IoT software company specializing in the development of consumer and institutional services for senior care, energy management and home security, People Power leads the industry with advanced AI-powered connected home solutions delivered through brands seeking recurring revenue business growth. For more information visit http://www.peoplepowerco.com
This release includes forward-looking statements. Actual results may vary materially from those expected. All forward-looking statements made herein are qualified by such risk factors, and readers are advised to consider such factors carefully. Iveda undertakes no obligation to revise these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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