What changed in this filing

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Item 1. Business

2024-04-01 compared with 2023-03-31 · 140 added, 56 removed, 208 unchanged (49% of the section changed)

77 unchanged sentences

Parking Detection

IvedaPinpoint

centrally manages Bluetooth trackers and sensors and displays them on a map for exact location.

Trackers and sensors are small devices

that can track assets and people such as medical equipment at hospitals, students at schools, workers at factories, and dementia patients

at senior care facilities.

The same platform manages TempPad sensors to monitor temperature of patients at hospitals for increased nurse

productivity and employees and students for initial COVID-19 screening and contact tracing.

offers many IoT sensors and devices for various applications such as energy management, smart home, smart building, smart community and

patient/elder care.

consists of deep-learning video analytics software running in a computer/server environment that can either be deployed at an edge

level or data center for centralized cloud model.

We combined hardware and artificial intelligence software for fast and efficient video

search for objects stored in an external (NVR) or storage device and live streaming video data from any IP camera.

works with any ONVIF-compliant IP cameras and most popular NVR/VMS (Video Management System) platforms, enabling accurate search

across dozens to thousands of cameras in less than 1 second.

IvedaAI products are designed to maximize efficiency, save time, and cut

Instead of watching hours of video recording after-the-fact, users can set up alerts.

offers many IoT sensors and devices for various applications, such as energy management, smart home, smart building, smart community

and patient/elder care.

Our gateway and station serve as the main hub for sensors and devices in any given area.

They are equipped with high-level

communication protocols such as Zigbee, WiFi, Bluetooth, and USB.

They connect to the Internet via Ethernet or cellular data network.

They are equipped with

high-level communication protocols such as Zigbee, WiFi, Bluetooth, and USB.

They connect to the Internet via Ethernet or cellular data

We provide IoT platforms that enable centralized device management and push digital services on a massive scale.

Our smart devices include

water sensor, environment sensor, entry sensor, smart plug, siren, body temperature pad, care watch and tracking devices.

Video is Iveda’s video surveillance solution for all kinds of applications.

Serving our customers over the past seventeen years

has allowed us to validate the best in video surveillance technologies and methodologies, including IP network cameras, NVRs, wireless

systems, and other components necessary to deploy a scalable, efficient, and effective video surveillance system.

Iveda designs, builds,

and delivers highly secure turnkey video surveillance systems featuring our ZEE IP Cameras and Sentir NVRs.

is a software technology platform that integrates a multitude of disparate systems for central access and management of applications,

Our smart devices

include water sensor, environment sensor, entry sensor, smart plug, siren, body temperature pad, a care wrist watch and tracking devices.

also offer smart power technology for office buildings, schools, shopping centers, hotels, hospitals, and smart city projects.

smart power hardware is equipped with an RS485 communication interface allowing the meters to be connected to various third-party

SCADA (supervisory control and data acquisition) software for monitoring and control purposes.

This line of product includes smart

power, water meter, smart lighting controls systems, and smart payment system.

Cerebro is a software technology platform that integrates a multitude of disparate systems for central access and management of applications,

subsystems, and devices throughout an entire environment.

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hotels, hospitals, and smart city projects.

This line of product includes smart power, water meter, smart lighting controls systems,

and smart payment system.

Cerebro manages all the components of our smart power technology including statistics on energy consumption.

Cerebro is a software platform designed to integrate multiple unconnected energy, security and safety applications and devices and control

them through one comprehensive user interface.

is a simple, easy to use suite of wireless health and wellness devices intended to help you monitor the health and activities of your

loved ones, even when you can’t be there yourself.

Our mission is to help ensure your loved one’s safety and independence.

Stay connected

to your elderly loved ones with our advanced IoT devices.

Real-time monitoring, fall detection, medication reminders and more.

With IvedaCare,

you not only can monitor your home and loved ones from afar, but potentially life-saving decisions can be made using the app.

wireless sensors collect real-time data that is shared with the entire family circle within the app.

Customers may add a subscription

service for Pro Monitoring.If the Trusted Circle is unavailable, our emergency call center will dispatch emergency services quickly.

This product includes smart power, water meter, smart lighting controls systems, and smart

payment system.

the last few years, smart city has been a hot topic among cities across the globe.

With little to no human interaction, technology increases

efficiency, expedites decision making, and reduces response time.

Dwindling public safety budgets and resources have necessitated this

transformation.

More and more municipalities are using next-generation technologies to improve the safety and security of its citizens.

Our response is our complete suite of IoT technologies, including AI intelligent video search technology, smart sensors, tracking devices,

video surveillance systems, and smart power.

is our smart pole solution, utilizing our Cerebro IoT platform.

This completes our digital transformation solution crucial in smart city

deployments as well as in large organizations.

Iveda leverages infrastructure already available in most modern cities – Light poles

equip existing poles with Utilus.

Utilus consists of power and Internet, establishing a communication network for access and management

of sensors and devices that the city requires to keep its citizens safe and secure and to effectively manage utility consumption.

smart pole offering is also ideal for government or large-scale city deployments.

This completes our digital transformation solution crucial in smart

city deployments as well as in large organizations.

Iveda leverages infrastructure already available in most modern cities – Light

poles with power We equip existing poles with Utilus.

Utilus consists of power and Internet, establishing a communication network for

access and management of sensors and devices that the city requires to keep its citizens safe and secure and to effectively manage utility

Our smart pole offering is also ideal for:

or large-scale city deployments

and Improving City Services

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Analytics and Monetization Opportunities

is an AI vision software that uses video taken on IP cameras, AR glasses, Androids, and tablets to analyze and process data in real-time.

vumastAR is fully customizable to the user’s needs, with one short video the AI can be trained in as little as two hours.

in multiple industries for uses such as:

Quality and Maintenance Exams:

vumastAR has the power to assist with critical measuring of carcinogenic chemical compound levels, electrical wiring, and welding inspections.

Factory and Line Work:

Fast and accurate machine recognition enables itemized counting, inventory audits, and assembly kitting.

Accurately identify and quantify medication, greatly reducing the manual labor of counting pills while eliminating human error.

Supply Chain:

Detect defects and anomalies for improved accuracy, increasing the bottom line by actively reducing lost revenue incurred from manual mistakes.

Manufacturing:

Digitalize meter and gauge reading and monitoring, as well as part number identification, with the ability to turn analog information into digital data

Transportation:

Enhance safety and security for operations including loading and unloading tanker trucks, protecting both personnel and products/equipment.

Ensure correct item identification and organization, providing increased accuracy for retail checkout and product categorization,

ultimately impacting revenue streams.

is sold as a license per device with a monthly subscription requirement for cloud access to trained AI models.

is a system that enables users to use pre-existing IP cameras and apply AI analytics without the need for large servers or a dedicated

IT department.

Designed to be plug-and-play IvedaXpress provides a hassle free set up process with no maintenance required for hardware.

Each IP camera is hosted from a local computer or smartphone for live viewing and playback.

Video may be stored on that local computer

or stored remotely using free storage from Amazon or Dropbox.

Smart UVC is a Commercial-grade, AI-driven Ultraviolet Germicidal Irradiation (UVGI).

Iveda Smart UVC adds UV lights to standard

HVAC vents for quick, easy, and inexpensive deployment to homes and commercial buildings.

Leveraging the existing air circulation system,

Iveda Smart UVC vents disinfect the air by irradiating UV light on the passing air.

Eliminating the need to manually disinfect offices,

meeting rooms, and other workspaces.

Iveda Smart UVC can be Integrated with Iveda SPS (smart power management) and sensors to efficiently

and effectively operate the light source upon detected movement.

Smart Drones are flown to perform certain functions from an aerial view without the need for a pilot onboard.

Smart Drones utilize

AI-based software for autonomous operation and navigation from taking off, returning to base, carrying out mission-critical tasks or

simply doing an aerial patrol, without the need of human intervention.

Unlike typical drones, Iveda Smart Drones are cloud-based and

can be part of a network of drones for central management.

They are equipped with Iveda’s Sentir Video Surveillance System and

IvedaAI Intelligent Video Search Technology.

Smart Drone product offering is robust and expansive for a multitude of industrial, commercial, and military applications.

Features of Iveda’s Smart Drone:

autonomous take-off, flight mission execution, monitoring, landing and recharging

operation and 24-7 flight mission

video streaming - real-time object recognition and tracking

(edged) AI and data analysis

redundant and fail-safe systems

resistant industrial grade systems (IP54)

and made in Taiwan (MIT)

and editing real-time/timed missions

permission control & flight data management

alarm and FPV gimbal control

orthorectified service of imagery (2D/3D)

technology for inspecting natural disaster, vehicle & pedestrian tracking, and energy facilities inspection.

geographic data and analysis report

8 (multiply redundant)

29.76″ / 756 mm

14.1lbs / 6.4 Kg

Beaufort scale – 6

Dual RGB, IR/thermal

5G/4G LTE and 2.4G Wi-Fi

Smart Utility Cabinet gives end users a convenient tool to monitor their daily energy consumption, to pinpoint electrical leaks,

and to prevent power line overload and potential fire.

It utilizes IoT sensors to detect abnormalities in consumption, temperature and

Iveda Smart Utility Cabinet has an internal environment control design, housed in a durable industrial-grade cabinet.

a smart edge computing gateway with multi-RF communication protocols such as 4G, Z-Wave and WiFi and tampering sensor for unauthorized

Smart water meter and gas meter may be added to the Cabinet.

Body Camera streams live video, using 4G, to headquarters and doubles as a walkie talkie with a push-to-talk feature.

With its multi-mode

audio, it can also be used for broadcasting and hands-free audio conferencing for group talk.

Vemo has WiFi capability which is ideal

for city-wide deployments.

Vemo transmits live streaming video instantaneously to the cloud without additional software or hardware.

Vemo’s cloud management platform can centrally manage an unlimited number of devices and video can be accessed on a PC, Android,

and iOS client.

Moreover, Vemo can stream directly into the IvedaAI platform for real-time video analytics to search for faces, objects

or license plates in real time.

launched in November 2022, is a simple, easy to use suite of wireless health and wellness devices intended to help you monitor the health

and activities of your loved ones, even when you can’t be there yourself.

Our mission is to help ensure your loved one’s

safety and independence.

Stay connected to your elderly loved ones with our advanced IoT devices for real-time monitoring, fall detection,

medication reminders and more.

With IvedaCare, you not only can monitor your home and loved ones from afar but can potentially make life-saving

decisions using the app.

Cloud-based, wireless sensors collect real-time data shared with the entire family circle within the app.

may add a subscription service for Pro Monitoring.

If the Trusted Circle is unavailable, our emergency call center will dispatch emergency

services quickly.

business model in the US is to license our software to organizations already providing services to an existing customer base and facilitating

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and Taiwan Energy Systems.

is a sample list of our present customers and partners

is a sample list of our historical and present customers and partners:

is no significant seasonality in our business.

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business currently does not implicate any environmental regulation.

is in AI space providing critical intelligence to video surveillance systems and IoT space providing digital transformation solutions

to cities around the world.

is in AI space providing critical intelligence to video surveillance systems and IoT space providing digital transformation

solutions to cities around the world.

Both industry segments are projected to grow significantly.

According to International Data Corporation (IDC)

Worldwide Artificial Intelligence Spending Guide, global spending on AI is forecast to double over the next four years from USD 50.1

billion in 2020 to more than USD110 billion in 2024.

Spending on AI systems will accelerate over the next several years as organizations

deploy artificial intelligence as part of their digital transformation efforts and to remain competitive in the digital economy.

According to International Data

Corporation (IDC) Worldwide Artificial Intelligence Spending Guide, global spending on AI is forecast to double over the next four

years from USD 50.1 billion in 2020 to more than USD 110 billion in 2024.

Spending on AI systems will accelerate over the next

several years as organizations deploy artificial intelligence as part of their digital transformation efforts and to remain

competitive in the digital economy.

to Fortune Business Insights, the global IoT market size was USD 308.97 billion in 2020, exhibiting a growth of 23.1% in 2020 compared

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14, Lane 609, Sec.

5, Chongxin Rd., Sanchong City, Taipei County 241, Taiwan

5, Chongxin Rd., Sanchong Dist., New Taipei City 241, Taiwan

We have two website addresses:

www.iveda.com and www.mega-sys.com .

The information contained on our websites does

not constitute a part of this Annual Report on Form 10-K.

The information contained on our websites

does not constitute a part of this Annual Report on Form 10-K.

electronically file our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and all amendments

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business