For Immediate Release
********************** NEW PRODUCT RELEASE *************************
Mesa, AZ (September 30, 2010) – Iveda Solutions (OTCBB:IVDA) announced today the release of the Streaming Video Converter (SVC). The SVC is a fully integrated device that combines the functionality of a high performance video encoder and cellular broadband router. Specifically designed for digitizing analog in-vehicle mobile video systems, the SVC enables live mobile streaming video over the Internet for remote access and storage.
“Frost & Sullivan estimates the global Mobile Video Surveillance Market to be $1.55 billion in 2015. We are excited about the potential growth and the demand that the SVC may generate for us in monthly recurring revenue for our centralized video hosting, remote storage, and real-time surveillance services,” said David Ly, president and CEO of Iveda Solutions.
The SVC was designed to be plug and play, quick to install, and simple to manage for organizations of all sizes, from local tow truck companies to Fortune 500 logistics companies. The device is perfect for rapid deployment of live mobile streaming video ideal for in-vehicle applications, such as police cars, school buses, taxicabs, delivery trucks and freight trucks. It enables any analog in-vehicle video surveillance system for Iveda Solutions’ centralized video hosting, remote storage, and real-time remote surveillance services.
Using cellular data network, the SVC allows instant live access to video onboard a vehicle: detect bullying and vandalism in school buses, assist officers in the field, and prevent truck ambush and general theft. Iveda Solutions’ centralized video management platform allows multiple simultaneous access from any Internet-enabled device anytime, anywhere.
With the SVC, video footage that is traditionally stored inside the vehicle through a local recording device can now be virtualized and stored remotely at a fully fault-tolerant data center with no concerns of redundancy, reliability, and lost or damaged data.
Administrative time to review incidents of live and archived video is immediate, eliminating costly hours spent retrieving and pulling data from multiple vehicles and multiple recording devices. There is no need to wait for vehicles to return to the transportation yard.
Prior to the fully-integrated SVC, Ronald Latko, Transportation Director for the Mesa Unified School District in Arizona, tested Iveda Solutions’ converter system and hosting service on some of the Mesa school buses. “Had this cloud computing system been available seven years ago, when I first went with DVRs, I would have gone this way,” said Ronald Latko. Latko manages the district’s more than five-hundred buses, the largest school transportation fleet in the state.
While fleet management may have the technology to know how fast their vehicles are moving, where they are, and what they are carrying, they still can’t see them, the SVC fills this gap. Organizations can now have on-demand visual assessment of any vehicle and its environment without the added burden or expense of infrastructure build-out and back-end management. Companies can now have remote access to vehicles in the field to improve operations and to know what is happening at all times to protect their employees and valuable assets.
“With many companies investing in end-to-end logistics security solutions to ensure quality and safety for their people, process, and products, we believe that Iveda Solutions’ SVC will be a large contributor to the effort,” said Ly.
Although mobile video technology has been around for some time, its functionality has been very limited as a fixed local solution that is a reactive tool and requires a lot of time for upkeep without truly achieving its intended purpose. Such technical and operational limitations are a thing of the past with the SVC. Companies can now remotely manage their fleet of vehicles large or small while the vehicles are in motion, using in-vehicle cameras they already have.
“This is the wave of the future for school bus safety and security,” added Latko.
About Iveda Solutions
Iveda Solutions, a wholly owned subsidiary of Iveda Corp. (OTCBB:IVDA), is the premier online surveillance technology innovator and Managed Video Services provider. Based in Mesa, AZ and incorporated in 2005, the company develops and markets enterprise class video hosting and real-time remote surveillance services. Iveda Solutions has a SAFETY Act Designation by the Department of Homeland Security as a Qualified Anti-Terrorism Technology provider. For more information call 800-385-8618 or visit www.ivedasolutions.com.
This news release contains forward-looking statements. Actual results could vary materially from those expected due to a variety of risk factors. The Company’s business is subject to significant risks and uncertainties discussed more thoroughly in Iveda Corporation’s SEC filings, including but not limited to its report on Form 10-K for the year ended December 31, 2009 and its 10-Q for the quarter ended March 31, 2010. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Luz A. Berg
Chief Operating Officer & CMO
Phone: 480 307-8700
Fax: 480 962-1251