The global access control market is expected to grow significantly in the next couple of years, going from $7.5 billion USD in 2018 up to $10.1 billion by 2022. Why? It’s largely due to increasing crime rates globally, tech advancements and deployment of wireless technology in security systems, and the adoption of IoT-based security systems with cloud computing platforms.
VSBLTY Groupe Technologies Corp. (CSE:VSBY) (OTCPK:VSBGF) is a leading software technology company that has major potential to dominate this growing market, with its advanced technology solutions that use deep machine learning, AI, edge computing, and computer vision to deliver enhanced security and keep the general population safe in public areas.
VSBLTY just announced an agreement with CIC Technology to cross-license and integrate new innovative technologies to provide frictionless access control and security solutions. CIC, which is a full-service technology company, will license certain elements of the VSBLTY Vector™ and DataCaptor™ solutions to enhance the abilities of its layered security suite.
“With more and more so-called soft targets being attacked around the world, heightened security is needed virtually everywhere,” Hutton explained. “We see CIC Technologies’ innovative security solutions as the ideal environment for VSBLTY’s facial recognition to enable faster, professional security responses to threats and deliver on a critical security market need.”
Providing Turnkey Security and Employee Authentication Solutions
The focus of the new security software suite will be on providing comprehensive turnkey security and employee authentication solutions while at the same time delivering critical operational analytics to protect front and back of house access to transportation hubs, stadiums, public venues, houses of worship, and schools.
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“The combination of CIC’s unique concealed weapons detection technology and the VSBLTY optical weapons detection provides a comprehensive weapons detection capacity to allow accurate detection and early warning,” said VSBLTY co-founder and CEO Jay Hutton. He continued, “that is why we are confident that this partnership will result in immediate contract wins and revenue to VSBLTY.”
Hutton believes this agreement with CIC Technologies “will significantly advance the increasingly important need to provide security where it has never been available before.”
Video Surveillance Market Expected to Boom
Another market VSBLTY Groupe is well positioned to succeed in is video surveillance, which is expected to grow over $77.21 billion by 2023.
The company’s proprietary VSBLTY Vector™ product, which can be used alone or in combination with any type of digital signage, combines video screens with facial recognition software and criminal databases in order to identify “persons of interest” or individuals carrying weapons with the intent to cause harm and alert field specialists. What sets VSBLTY’s technology apart from other video surveillance cameras is that it is built right into screens, offering a clearer, closer image of event attendees than overhead camera systems do.
On top of that, its latest innovation using Intel’s OpenVINO™ platform delivers Edge processing, which will provide faster and more affordable technology than legacy systems.
VSBLTY recently joined major international cybersecurity integrator Cyber Ops Alliance, which will add it to a consortium of best-in-class cybersecurity specialists.
VSBLTY stock price was up 1.89% Monday morning on the Canadian Securities Exchange, selling for $0.54 CAD.
Featured Image: Pixabay
