Iveda expands in Egypt with new manufacturing partnership

MESA, Ariz. - Iveda (NASDAQ:IVDA), a provider of cloud-based AI video analytics technology, announced a manufacturing partnership with the Arab Organization for Industrialization (AOI) and Egyptian security developer ZeroTech to produce its Iveda360 surveillance cameras in Egypt. The company, currently trading near its 52-week low of $0.61, has seen revenue growth of 20.56% over the last twelve months according to InvestingPro data.

According to the press release statement, the collaboration will focus on local production of Iveda’s 360-degree smart surveillance camera designed for real-time AI video analytics. The company claims the camera delivers anti-warp imaging that enables accurate AI detection from multiple angles.

The partnership follows Iveda’s earlier transfer of VEMO Body Cam manufacturing to Egypt, representing another step in the company’s localization strategy in the region.

Egypt’s CCTV camera market is projected to reach $582 million by 2033, with the 360-degree camera segment forecasted to grow from $14.28 million in 2024 to $76.31 million by 2033, according to data cited in the announcement.

"This new Iveda360 manufacturing partnership is not just about building more cameras—it’s about building a long-term revenue engine in a market that’s growing quickly," said David Ly, Founder and CEO of Iveda.

AOI Electronics, a division of one of Egypt’s industrial institutions, will contribute manufacturing expertise while ZeroTech will support technology integration, calibration, and quality assurance for production.

The companies plan to target Egypt’s security needs across sectors including schools, hospitals, prisons, transportation hubs, and airports. The partnership also aims to position Egypt as an export hub for surveillance technology to other markets in Africa and the Middle East.

The broader Middle East and Africa video surveillance market was estimated at $4.32 billion in 2024 and is expected to reach $5.71 billion by 2029, according to figures provided in the announcement.

In other recent news, Iveda has announced a partnership with Salience Security to launch the Salience Mobile Command, a portable security command center featuring Iveda’s AI technology. This mobile unit was initially deployed at the LIV Golf Tournament, serving as the central security hub for the Carrollton Texas Police Department, with a focus on drone control. Additionally, Iveda’s Board of Directors has approved a strategic move to acquire cryptocurrency as part of its treasury strategy. This decision is aimed at diversifying the company’s assets and enabling participation in the digital economy. These developments highlight Iveda’s ongoing efforts to innovate and adapt to emerging technologies.

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