Iveda Expands Smart City Footprint Across Egypt; Opens Cairo Office And Strategic Demonstration Showcase
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Iveda (NASDAQ:IVDA) has expanded its smart city technology footprint in Egypt by opening a new office in Cairo and a strategic demonstration showcase within the Arab Organization for Industrialization (AOI) government facility. This move, following a partnership with AOI six months ago, aims to display Iveda's 5G, AI, and sustainable technology innovations, including the Utilus Smart Pole. The collaboration supports Egypt's plan to introduce 38 new smart cities by 2050, leveraging Iveda's IoT and AI expertise. Egypt's AI market is expected to grow significantly, reaching $601.8 million by 2030. Major General Ashraf Hassan, a recent addition to Iveda's Advisory Board, will play a key role in promoting Iveda's technologies in the region.
February 15, 2024 | 2:06 pm
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Iveda's expansion in Egypt through a new office and demonstration showcase aims to solidify its position in the smart city technology market, potentially increasing its revenue and market share in the EMEA region.
Opening a new office and demonstration showcase in Cairo, in partnership with AOI, positions Iveda as a leader in smart city technologies in Egypt and the broader EMEA region. This strategic move is likely to enhance Iveda's visibility, facilitate partnerships, and accelerate the adoption of its technologies, potentially leading to increased sales and market penetration. The anticipated growth of Egypt's AI market and the government's commitment to developing smart cities provide a favorable backdrop for Iveda's expansion efforts.
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