[Click eStock] "Innodep Expands Cloud-Based Business... Leap Forward in Second Half of Next Year"

Hi Investment & Securities Report

[Asia Economy Reporter Kwangho Lee] Hi Investment & Securities analyzed on the 26th that Innodep is expected to establish a foundation for a significant leap forward in the second half of next year. No investment opinion or target price was provided.

Innodep, established in 2008, is a company that provides hardware and software for video data processing. Its main focus is on selling video recognition products for real-time video monitoring of CCTV footage. It also offers data platforms for visualizing urban infrastructure data.

Lee Sangheon, a researcher at Hi Investment & Securities, explained, "Digital Twin refers to a technology that builds a space identical to reality in a digital environment and analyzes reality and predicts the future through simulations using artificial intelligence (AI) and big data."

He added, "In the monitoring field using video information, by securing a large amount of video data through pre-training and then training it with AI technology to conduct simulations, it is possible not only to acquire information about simple objects but also to make predictive discoveries in various areas such as vehicle traffic volume and population flow."

To conduct such simulations, a virtual object space called the cloud is necessary. Accordingly, Innodep has signed a business agreement with Naver Cloud and is promoting the development and commercialization of a Video Surveillance as a Service (VSaaS) joint business model.

The researcher stated, "First, we plan to commercialize the VSaaS to enable public institutions and local governments to utilize it for accident and specific event detection activities," adding, "Also, by next year, we plan to secure a business model for an AI-based intelligent CCTV selective monitoring system through productization based on the Naver Cloud platform."

He further said, "Above all, real-time urban data obtained through video monitoring can be used as data for operating digital twins and smart city construction, which will positively impact the expansion of Innodep's cloud-based business model," and predicted, "Through the expansion of such cloud-based business models, a foundation for a significant leap forward can be established starting from the second half of next year."

This content was produced with the assistance of AI translation services.