1. Iveda secures $180,000 contract for smart city deployment in Manila. 2. Overall goal aims for $3 million in smart city revenue by 2026. 3. IvedaAI integrates seamlessly with existing city CCTV infrastructure. 4. Global smart city market projected to reach $80 billion this year. 5. Deployment model expected to scale across other major cities.
Iveda's successful contract can lead to increased investor confidence and stock performance. Historically, similar smart city rollouts have spurred positive stock movement in tech-focused companies.
The $3M initiative highlights Iveda's growth potential, making it critical news for investors. The trends in the smart city market further enhance the importance of this article.
The ongoing smart city initiative targets substantial revenue by 2026, impacting long-term growth. Similar projects in other regions may be influenced by this success.
MESA, Ariz.--(BUSINESS WIRE)--Iveda® (NASDAQ: IVDA), a global leader in AI-driven video surveillance and smart city technologies, today announced the deployment of its IvedaAI™ platform in a major city center in the Philippines, under an initial $180,000 order. This milestone marks the company’s first smart city implementation under its broader $3 million smart city initiative in the region.
Starting in the heart of Manila, Iveda Philippines is working alongside city officials and their existing trusted system integrator partners to meet the growing demands on safety in some of the country’s largest multinational hubs. The city selected IvedaAI to augment its extensive CCTV infrastructure with real-time, AI-powered analytics. Rather than replacing pre-existing hardware, IvedaAI layers seamlessly onto current CCTV systems to deliver faster, more accurate detection of critical incidents, enhanced public safety, and operational efficiency.
“Iveda started its focus on smart cities with the Philippines six years ago,” said David Ly, CEO and Founder of Iveda. “We spent time truly listening to the vision of city officials—understanding their goals, city pain points, and working alongside local integrators to tailor a solution that would work with their existing infrastructure. To secure deployment in one of the most prestigious and forward-thinking cities in Southeast Asia is not just a milestone for Iveda—it’s a model we plan to replicate in other global cities of similar stature.”
The deployment is designed to reduce manual monitoring workloads and empower the city’s surveillance team with automation and intelligent alerts. The city’s need to streamline operations and make better use of its long-standing investments in CCTV systems made IvedaAI a natural fit.
“This is a proud step forward,” said Lino Barte, President of Iveda Philippines. “Together with the city’s stakeholders and integrator partners, we’ve created a model of deployment that works—and more importantly, one that scales. Other major cities—and even top hotel chains—are already lining up to replicate it, and we’ll be sharing those rollouts soon.”
Iveda Philippines is a Joint Venture in the Philippines focused on smart city deployment. This initial city represents Iveda Philippines’ first major contract in support of the company’s broader smart city strategy in the Philippines, announced last year. Based on how the Iveda team has measured the pace of municipal activity, the new target for the end of fiscal year in 2026 is $3M in revenue from smart city projects in the Philippines.
According to recent market research, the global smart city market is projected to reach nearly $80 billion this year, with a compound annual growth rate of 9.6% through 2029. As cities seek to modernize their infrastructure and safety systems without massive upfront investment, Iveda’s AI-powered overlay on existing infrastructure offers a scalable, cost-effective pathway to modernization.
Contact sales@iveda.com to learn how Iveda can help your city modernize surveillance, enhance safety, and get more from your existing infrastructure—without the heavy lift, anywhere in the world.
About Iveda Solutions®
Iveda (NASDAQ: IVDA) is the provider of global solutions for cloud-based, video AI search and surveillance technologies that protect the people, places, and things that matter the most. Iveda’s technology has the power to provide instant intelligence to existing infrastructure, enabling cities and organizations around the world to seamlessly enter the fifth industrial revolution. Iveda operates at the forefront of digital transformation of cities across the world, using IoT platforms with smart sensors and devices developed to aid with use cases surrounding public safety, security, elderly care, energy efficiency, and environment preservation. Headquartered in Mesa, Arizona, with a subsidiary in Taiwan, Iveda is publicly traded under the ticker symbol “IVDA.”