CEO of DirectView Holdings (OTC: $DIRV) Discusses Contracts and Future of Security Surveillance Sector Using #AI; companies mentioned: GRUMA (GRUMAAB.MX), FLIR Systems (NASDAQ: $FLIR), Apple ( $AAPL)
Point Roberts, WA - October 30, 2018 (Investorideas.com Newswire) Investorideas.com and Homelanddefensestocks.com, covering security and defense stocks release an exclusive podcast interview with Roger Ralston, the CEO of DirectView Holdings, Inc. (OTC: DIRV). Roger discusses his company's Security Video Surveillance division (http://directview.com), its revenue growth and some recent contracts, including with a leading Texas builder, Rogers-O'Brien Construction and his contract with Mexico's GRUMA (GRUMAAB.MX) subsidiary, Mission Foods. He also shares his thoughts on the growth of the security surveillance industry and how tech, including AI, will play a key role in its future.
Listen to the podcast:
Security Industry Podcast: CEO of DirectView Holdings, Inc ( OTC: $DIRV) talks about new contracts and future of security surveillance
Looking at the most recent deal flow, DirectView's subsidiary Virtual Surveillance just signed a master agreement to work with a leading Texas builder, Rogers-O'Brien Construction, a company that has done $1.5 billion in construction volume over the past five years.
Roger shares thoughts on why this is a significant contract, including the fact that the master agreement grants Virtual Surveillance the ability to bid on any jobs in which Rogers-O'Brien Construction is operating as a general contractor.
Roger said of the contract, "They are an awesome organization and that opened the potential for us to be able to bid and get involved with several large-scale opportunities that they are working on in the state of Texas."
Rogers-O'Brien Construction is deploying technology to make sure it stays ahead of costs and industry evolution. The company made headline news in May in multiple publications including Apple Insider (NASDAQ: AAPL) saying that "The iPad has become an extremely useful tool for one Texas-based construction firm, with a report revealing the use of Apple's tablet by the workforce has saved the company an estimated $1.8 million per year, as well as helping to reduce the amount of hours spent working on projects."
The Apple Insider article goes on to say, "Rogers-O'Brien started using iPads on sites for the last five years, reports Business Insider, in a project overseen by director of applied technology Todd Wynne. Out of the 340 employees working for the firm, 190 possess an iPad for work purposes."
DirectView's Roger Ralston, talking about Rogers-O'Brien's Apple (NASDAQ: AAPL) technology deployment notes, "That again points to what an honor it is to be chosen by them to be their provider for security cameras, access control and peripheral space. They obviously know what they're talking about, as they are a tech savvy company and they are into cutting edge applications and equipment and they've agreed to work with us, which I think says a lot about our ability and the products and services we sell."
Looking at the growth in the global video surveillance market, which according to research is estimated to reach $62.62 Billion by 2023, Roger discusses how his company is reflecting that growth and seeing it first-hand.
Discussing an earlier contract signed this year (Company announced in July that it had received additional orders and began fulfillment of an additional multi-year contract for $3.7B publicly-traded GRUMA (GRUMAAB.MX) subsidiary Mission Foods), Roger talks about the momentum and how one contract can potentially lead to multiple contracts if you are dealing with large corporations.
"That was a very big feather in our cap, to win that account. We've done multiple installations with them and are working towards additional installations in the future. As you know they are a global organization, so starting here in the US with them does not limit us from going further than that."
When asked about which markets are expected to see the most growth in the security sector over the next few years, as far as who will need the most security in the shortest amount of time, Roger went on to discuss the continued need for security in the US as well as internationally.
Roger said "There's definitely growth in the US as far as security goes. Things that people have seen in the news, from school shootings that have happened here in the US, which have brought security to the forefront, from people sending bombs in the mail, to the tragedy that happened here in the synagogue today, the more security we have, the more security will catch people doing things like that. There's definitely a growing need for security cameras. It's growing here in the US, and South America and Central America have an absolute need, and even Canada. We're looking at the Canadian space and have recently announced we're exploring a dual listing in the Canadian market. The cannabis market that was just legalized will bring about a big need for security cameras. The opportunities are very bountiful."
Looking at the future of the sector and how technology, including artificial intelligence can play a key role, Ralston stated, "The surveillance industry is continually evolving. We are now offering artificial intelligence. We've got a product that we have where if you want to search for everyone that was wearing a red shirt that came through your door, you can find it. If you want to see every time a UPS driver went by, you can find that as well. We are looking to be cutting edge and we have cutting edge products. There is no market that we cannot serve."
Other companies like FLIR® Systems, Inc. (NASDAQ: FLIR), have recently announced similar products such as the FLIR Firefly® camera family, the industry's first deep learning inference-enabled machine vision camera.
"Automated analysis of images captured by machines is a key part of our day-to-day lives that few of us think about," said James Cannon, President and CEO of FLIR. "The quality, affordability, and speed-to-market of items like our smartphones or the food on our tables are made possible by systems using cameras doing both inspection and automated production. With the FLIR Firefly, powered by Intel Movidius Myriad 2 VPU, we are enabling the designers of these systems to leverage deep learning faster and at lower costs."
The AI in security market is expected to reach $11.95 billion by 2024, growing at a CAGR of around 34.9% during the forecast period, according to recent research.
The report concludes, "AI in security provides an enticing proposition with its proactive threat mitigation capabilities, which is needed for constant supervision and adaptation to the multifaceted security vulnerabilities."
About DirectView Holdings, Inc.
DirectView Holdings, Inc., (OTC: DIRV) together with its subsidiaries, provides video surveillance solutions and teleconferencing products and services to businesses and organizations. The company operates in two divisions, Security (Video Surveillance) and Video Conferencing. The Security division offers technologies in surveillance systems providing onsite and remote video and audio surveillance, digital video recording, and services. It also sells and installs surveillance systems; and sells maintenance agreements. The company sells its products and services in the United States and internationally through direct sales force, referrals, and its Websites. The Video Conferencing division offers teleconferencing products and services that enable clients to conduct remote meetings by linking participants in geographically dispersed locations. It is involved in the sale of conferencing services based upon usage, the sale and installation of video equipment, and the sale of maintenance agreements. This division primarily provides conferencing products and services to numerous organizations ranging from law firms, banks, high tech companies and government organizations. For more information visit our websites at www.DirectView.com, www.ApexCCTV.com and www.VS-US.com and connect with us on Twitter, LinkedIn, Facebook, and Google+.
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