Vsblty, Teralight the latest to target Smart Cities opportunity with biometric surveillance, analytics
Vsblty Groupe Technologies Corp., a provider of biometrics and other security and retail marketing technology, announced a partnership with Teralight Group, a global provider of software and services to mobile network operators, internet service providers and governments. The agreement is aimed at providing smart city applications to Teralight’s customers in Eastern Europe and the Middle East as well as in Africa and Southeast Asia.
Vsblty has been providing technology customer engagement and audience measurement using machine learning and computer vision in retail settings but has taken its background in computer vision measurement and biometric facial recognition into its Vector advanced facial recognition.
“The market for IoT/IoE and smart city applications coupled with associated analytics is growing exponentially worldwide. With the advent of 5G/6G and Wi-Fi 6, the demand for artificial narrow intelligence, specifically video surveillance with smart analytics, is leading the way,” said Melanie Salvador, CEO of Teralight. Teralight intends to leverage Vsblty’s offerings and develop a suite of hosted service offerings for its customers.
Vsblty Co-founder and CEO Jay Hutton noted that Teralight’s relationships in the carrier community will help the carriers “cost-effectively deploy new services from shared infrastructure in a highly competitive and scalable way.”
Both companies are small vendors in a vast and fast-growing sea of competitors. Smart Cities projects are among the top five types of IoT projects, according to research firm IoT Analytics. Such projects account for 12 percent of over 1,400 projects that are tracked based on IoT Analytics’ research of over 620 vendors of IoT platforms.
Companies like Vsblty and Teralight are targeting the Smart City market on the basis of projected market growth. The global smart cities market size was valued at $83.9 billion in 2019 and is expected to register a CAGR of 24.7 percent from 2020 to 2027 according to a report from Grandview Research.