Iveda® announced a newly signed contract with a government agency in Taiwan worth approximately $1.7 million gross revenues. Through this contract, Iveda will provide networking equipment and interprocess communication (IPC) computers to 45 new locations nationwide, assisting the agency in designing and installing a video command, communication, and control system. All additional locations are anticipated to be completed by year end and will be overseen and managed by Iveda Taiwan.

This project deployment has the potential for an additional 194 locations to be put under contract in the future, as there are a total of 300 locations countrywide. Iveda is unable to disclose the agency identity due to the sensitivity of the project confidentiality. According to Markets and Markets, the global video surveillance market is estimated to reach $76.4 billion by 2027 ??

and Iveda is well positioned to follow alongside this upward trajectory. This contract follows closely behind several Taiwan-based smart city deals??worth more than $1 million??which Iveda unveiled early this year. Iveda Taiwan continues to work with local organizations and government municipalities to expand the company?s AI, IoT, and smart city offerings across the nation.