Iveda announced Auzpack 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 $5 million 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.

According 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. As part of this ongoing partnership, Auzpack will deploy Ived aAI across several different use cases, including: Improving 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 dangerous machinery.

Ensuring building security through facial recognition to manage access, GPS, and indoor floor plans to track potential worker incidents in real time. Reducing hazardous material risks through accurate and immediate alerts surrounding leaks, sparks, abnormal equipment activity, and smoke and fire. Additionally, the technology has the power to prevent machinery and production stops while also detecting unattended machinery in operation.

Increasing overall site safety with immediate alerts when objects or equipment are modified or tampered with, seeing personnel or objects inside or outside a warehouse or site, and monitoring/managing access and occupancy of areas outside the building (including parking lots). This news comes at a time of major global growth for Iveda, having recently announced multi-million dollar partnerships for AI-powered security across Vietnam, a Latin American exclusive partner which anticipates $5 million for 2024, and a $3.2 million contract with the Taiwanese government for AI video search and surveillance among other major international expansions.