In response to customer demand, Iveda enhances LevelNOW – a customizable IoT sensor solution for remote monitoring and control – with a new patent
MESA, Arizona, August 29, 2024–(BUSINESS WIRE)–Iveda® (NASDAQ:IVDA), the global solution for cloud-based AI, today announced the filing of a new patent for LevelNOW, its next-generation tracking and monitoring solution for efficiently monitoring liquid storage and management. In industries such as oil and gas, where billions of dollars are invested annually in liquid storage infrastructure, LevelNOW provides real-time monitoring and control, helping companies resolve critical issues such as leaks, evaporation and theft during liquid transportation and storage. By providing operators with accurate data and timely alerts, this unique solution is designed to reduce costly losses and improve operational efficiency.
Iveda’s new patent covers LevelNOW’s customizable IoT sensor, which can measure liquid levels externally on containers of different sizes and shapes, eliminating the need for expensive internal replacement sensors.
Iveda’s LevelNOW solution is already transforming the way a major oil company in Australia provides customer service. When customers run out of oil, the company can use the technology to deliver timely replenishment, ensuring service is never interrupted.
The intermediate bulk container (IBC) and metal drum market is expected to grow to over $24.1 billion by 2030, and the secure storage and transportation of metal drums has been cited as one of the biggest growth opportunities for the industry. The ability to leverage IoT sensors – particularly those that work with existing devices to feed the data to the LevelNOW platform – directly addresses this growth opportunity and allows the system to take data-driven actions on behalf of humans, also increasing accuracy and efficiency.
“This innovation comes from being on the ground with our customers and really listening to their needs and desires,” said David Ly, CEO and founder of Iveda. “When Iveda develops a new solution to a customer’s problem, we always make it a priority to work with the equipment they already have rather than reinventing the wheel. Not only does this result in significant cost savings, but it also saves time because users don’t have to learn to operate new equipment. By enhancing our LevelNOW solution with this new patent, Iveda underscores its commitment to industry-specific innovations that simplify everyday workflows.”
Since launching LevelNOW in May, Iveda has already sold hundreds of units, proving the effectiveness of the solution through successful deployment and indicating high market acceptance and the potential for wider adoption.
“By entering into a key partnership with the oil and gas industry, Iveda has demonstrated its commitment to developing solutions that make our jobs easier,” said Rakesh Takoo, Managing Director of Auzpack. “With LevelNOW, we can bring the benefits of real-time, intelligent data management to anyone who handles 200-liter containers. As a former executive at the world’s largest container and drum company, I have experienced the challenges of liquid storage management first-hand. With LevelNOW, Iveda is solving decades-old problems and providing our customers with reliable and efficient solutions.”
By improving safety, increasing operational efficiency and delivering tangible savings, LevelNOW is revolutionizing liquid storage management and becoming an indispensable tool for companies looking to protect their assets and increase profitability.
To learn more about LevelNOW, Iveda’s new patent pending, and for direct worldwide sales inquiries, please contact [email protected].
About Iveda Solutions®
Iveda (NASDAQ:IVDA) is the global solutions provider of cloud-based video AI search and surveillance technologies that protect the people, places and things that matter most. Iveda’s technology is able to instantly infuse existing infrastructure with intelligence, enabling cities and organizations around the world to seamlessly enter the Fifth Industrial Revolution. Iveda is pioneering the digital transformation of cities around the world, leveraging IoT platforms with smart sensors and devices designed for use cases in public safety, elder care, energy efficiency and environmental protection. Iveda is headquartered in Mesa, Arizona, with a subsidiary in Taiwan. The company is publicly traded under the ticker symbol “IVDA.”
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Olivia Civiletto Erwin
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