Latest news with #ZKTeco
Zawya
05-05-2025
- Business
- Zawya
Saudi-listed AICTEC, China's ZKTeco plan opening new factory in Kingdom
Saudi-listed Advance International Company for Communication and Information Technology (AICTEC) has signed a memorandum of understanding (MoU) with the Chinese company ZKTeco to establish a factory in Saudi Arabia. ZKTeco will hold a 60% stake, while AICTEC will own the remaining 40% in the new company, which will have a total capital of $1.5 million (SAR 5.63 million), AICTEC said in a statement to Tadawul. The new plant will focus on local manufacturing and assembly of security inspection gates, vehicle and pedestrian access control gates, and modern technical systems. ZKTeco, listed on the Shenzhen Stock Exchange, develops biometric solutions and AI-powered spatial cognitive intelligence technologies. The joint venture will primarily serve the Saudi market but plans regional expansion, the statement added. (Editing by Anoop Menon) (
Argaam
04-05-2025
- Business
- Argaam
AICTEC inks MoU with Chinese firm to set up $1.5M factory in Saudi Arabia
Advance International Company for Communication and Information Technology (AICTEC) signed a memorandum of understanding (MoU) with the Chinese company ZKTeco to establish a joint factory in Saudi Arabia with a capital of $1.5 million or SAR 5.63 million. ZKTeco will be holding a 60% stake, and AICTEC holding 40% in the new plant. In a statement Tadawul, the company said that MoU is valid for six months, noting that the proposed new entity will focus on manufacturing security inspection gates, vehicle and pedestrian access control gates, and advanced technology systems, to better serve the Saudi market and the broader Middle East region. The establishment of this joint venture represents a significant milestone in the long-term partnership between ZKTeco and AICTEC, the statement added, expecting a positive financial impact upon operating the factory. As part of this collaboration, the company will benefit from ZKTeco's advanced technologies and global resources, along with AICTEC's strong presence in local and international markets and its operational expertise. AICTEC noted that ZKTeco Co. Ltd., listed on the Shenzhen Stock Exchange, ticker: 301330, is a global leader in biometric solutions and AI-powered spatial cognitive intelligence technologies. Specializing in biometric authentication and smart access control, ZKTeco is redefining human-machine interaction and enabling digital transformation. AICTEC is a Saudi public joint-stock company specialized in smart security technologies, smart retail solutions, and ICT services. Headquartered in Riyadh, it operates across the Kingdom of Saudi Arabia, offering tailored technology solutions to support digital transformation and national development initiatives. AICTEC is committed to innovation, local value creation, and excellence in service delivery, the statement indicated. The joint venture will primarily serve the Saudi market, while maintaining the flexibility to expand into neighboring countries. This strategic partnership underscores both companies' commitment to Saudi Arabia's Vision 2030, contributing to the development of local manufacturing capabilities, job creation, and technological advancement in the Kingdom, AICTEC added. No related parties are included in the deal, the company further pointed out, stating that any updates in this regard will be announced in a timely manner.
Yahoo
03-04-2025
- Business
- Yahoo
ScanTech, ZKTeco announce teaming agreement
ScanTech (STAI) AI and ZKTeco announced a Teaming Agreement aimed at delivering an integrated, multi-layer security solution to address evolving security challenges in non-government critical infrastructure markets worldwide. The companies' goal is to enable both organizations to expand their market reach, drive sales revenue, and enhance technical innovation by combining ScanTech AI's cutting-edge detection solutions with ZKTeco's advanced biometric and identity authentication technologies. By leveraging each organization's core capabilities, the companies' focus for the teaming will be to create a seamless security ecosystem designed to meet the increasing demand for robust, adaptable, and scalable security solutions. Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks. Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on STAI: Disclaimer & DisclosureReport an Issue ScanTech AI Systems Delays Yearly Report Filing ScanTech, Creeksource Consulting form strategic partnership ScanTech AI systems participates in TSA Industry Day AI Daily: Nvidia reports earnings, Microsoft pushes for looser chip restrictions ScanTech exploring opportunities within Stargate AI Initiative Sign in to access your portfolio
Associated Press
02-04-2025
- Business
- Associated Press
ScanTech AI Systems and ZKTeco Announce Teaming Agreement to Expand Multi-Layer Smart Security Solutions for Critical Infrastructure Customers Worldwide
ATLANTA, April 02, 2025 (GLOBE NEWSWIRE) -- ScanTech AI Systems Inc. (Nasdaq: STAI) ('ScanTech AI') a leader in AI-driven security screening solutions, and ZKTeco, a global trailblazer in biometric security and identity verification technology, are pleased to announce a Teaming Agreement aimed at delivering an integrated, multi-layer security solution to address evolving security challenges in non-government critical infrastructure markets worldwide. The companies' goal is to enable both organizations to expand their market reach, drive sales revenue, and enhance technical innovation by combining ScanTech AI's cutting-edge detection solutions with ZKTeco's advanced biometric and identity authentication technologies. By leveraging each organization's core capabilities, the companies' focus for the teaming will be to create a seamless security ecosystem designed to meet the increasing demand for robust, adaptable, and scalable security solutions. 'In today's rapidly evolving security landscape, efficiency and adaptability are paramount. We believe that our relationship with ZKTeco will enable security teams to extend their perimeters, enhance detection capabilities, and seamlessly integrate advanced technologies, making a smarter, more autonomous security ecosystem,' said Dolan Falconer, the Chief Executive Officer of ScanTech AI. 'Through blending our AI-driven threat detection with smart biometric security advancements, we are aspiring to deliver a next- generation security framework that optimizes operations, reduces response times, and empowers organizations with intelligent, proactive protection.' 'ZKTeco US is excited to announce our Teaming Agreement with ScanTech AI, a leader in advanced AI-powered screening solutions,' said Scott Bohm, EVP of Entrance Control & Operations at ZKTeco USA. 'By combining our innovative biometric and access control technologies with ScanTech AI's state-of-the-art capabilities, we aim to strengthen security infrastructure and improve operational efficiency for transportation and other private client facilities. This Teaming Agreement underscores our commitment to delivering cutting-edge solutions that enhance safety while optimizing user experience.' About ScanTech AI Systems Inc. ScanTech AI Systems Inc. (Nasdaq: STAI) has developed one of the world's most advanced non-intrusive 'fixed-gantry' CT screening technologies. Utilizing proprietary artificial intelligence and machine learning capabilities, ScanTech AI's state-of-the-art scanners accurately and quickly detect hazardous materials and contraband. Engineered to automatically locate, discriminate, and identify threat materials and items of interest, ScanTech AI's systems are designed for use in airports, seaports, borders, embassies, corporate headquarters, government and commercial buildings, factories, processing plants, and other facilities where security is a priority. For more information, visit About ZKTECO CO., LTD. ZKTeco Co., Ltd. provides biometric verification algorithm techniques, sensors, and software platforms worldwide. It offers solutions based on smart verification and identity authentication applications for vertical industries, partners, and system integrators. ZKTeco Co., Ltd. provides body temperature and mask detection devices; visible light products; biometric T&A, RFID attendance, and portable devices; access control devices and accessories; entrance control products; video surveillance products; smart lock products; biometrics readers; and POS terminal and peripherals. ZKTeco Co., Ltd. was founded in 2007. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the 'Securities Act'), and Section 21E of the U.S. Securities Exchange Act of 1934, as amended ('Exchange Act'), including statements regarding ScanTech AI's management team's expectations, hopes, beliefs, intentions, plans, prospects or strategies regarding the future, including with respect to the Teaming Agreement and any results from the Teaming Agreement, business combinations, revenue growth and financial performance, product expansion and services. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Additionally, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words 'may,' 'will,' 'could,' 'would,' 'should,' 'expect,' 'intend,' 'plan,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'project,' 'potential,' 'continue,' 'ongoing,' 'target,' 'seek' or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, may identify forward- looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on the current expectations and beliefs made by the management of ScanTech AI, in light of their respective experience and their perception of historical trends, current conditions and expected future developments and their potential effect on ScanTech AI, as well as other factors they believe are appropriate under the circumstances. There can be no assurance that future developments affecting ScanTech AI will be those that it has anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the parties) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward- looking statements, including product and service acceptance, regulatory oversights, research and development success, and that ScanTech AI will have sufficient capital to operate as anticipated. Should one or more of these risks of uncertainties materialize, or should any of the assumptions of ScanTech AI prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Additional factors that could cause actual results to differ are discussed under the heading 'Risk Factors' and in other sections of the filings of ScanTech AI (and its predecessor, Mars) with the U.S. Securities and Exchange Commission (the 'SEC'), and in the current and periodic reports filed or furnished by ScanTech AI (and its predecessor, Mars) from time to time with the SEC. All forward- looking statements in this press release are made as of the date hereof, based on the information available to ScanTech AI as of the date hereof, and ScanTech AI assumes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as may otherwise be required under applicable securities laws. Contact International Elite Capital Inc. Annabelle Zhang
Yahoo
05-02-2025
- Business
- Yahoo
Indonesia Access Control Solutions Market to Hit Valuation of US$ 540.8 Million by 2033
Booming mobile usage and smart infrastructure initiatives drive Indonesia's access control solutions, merging advanced authentication with user-friendly platforms for widespread commercial, governmental, and institutional adoption. New Delhi, Feb. 05, 2025 (GLOBE NEWSWIRE) -- As detailed in the latest research from Astute Analytica, the Indonesia access control solutions market was valued at US$ 237.0 million in 2024 and is projected to reach US$ 540.8 million by 2033 at a CAGR of 9.6% over the forecast period 2025-2033. Indonesia's access control solutions market has gained remarkable traction as organizations across sectors recognize the importance of robust security and efficient facility management. With a mobile penetration rate of 112% and 266 million mobile subscribers as of 2024, the potential for mobile-based authentication and real-time monitoring has reached unprecedented levels. In the commercial sector, enterprises are deploying advanced systems that integrate biometric authentication, cloud-based management, and digital identity features. Notably, facial recognition terminals in Indonesia can authenticate users from a distance of 10 feet, while palm recognition systems accurately do so at 1.6 feet, ensuring seamless entry without compromising safety. A government push toward secure identification is further evident through 5.2 million smart card IDs issued to employees, highlighting the nation's emphasis on identity verification. Download Free Sample Pages @ Moreover, these advancements coincide with rising cybersecurity challenges, as the country reported 1,387,615 cybersecurity incidents in 2024. Consequently, 78,500 organizations now prioritize security over convenience in their workplace access strategies. In parallel, the continued growth of multi-location enterprises propels demand for interconnected solutions in the access control solutions market, with 62,000 building management systems integrated alongside smart access control. According to recent findings, 3.8 million smartphones are actively utilized as digital keys, underscoring Indonesia's readiness to embrace contactless systems. Major technology firms such as ZKTeco, Honeywell, and Bosch are increasingly catering to this market, developing scalable solutions for diverse applications ranging from finance and healthcare to hospitality and retail. By leveraging Indonesia's status as a top IT spender in Southeast Asia, these companies are capitalizing on the country's digital transformation momentum. Key Findings in Indonesia Access Control Solutions Market Market Forecast (2033) US$ 540.8 million CAGR 9.6% By Solutions Hardware (55.5%) By Application Commercial (37%) Top Drivers Rapid mobile technology adoption driving demand for smartphone-based access solutions Government initiatives promoting smart city development and digital infrastructure Increasing security threats necessitating advanced authentication in financial institutions Top Trends Integration of AI and machine learning for predictive security analytics Adoption of contactless biometric technologies for enhanced hygiene and convenience Convergence of physical and logical access control in enterprise environments Top Challenges Ensuring interoperability between legacy systems and new access control technologies Balancing user convenience with stringent security requirements in multi-factor authentication Addressing data privacy concerns in biometric-based access control systems Key Technological Drivers and Commercial Adoption Shaping Access Control Demand Technological strides, particularly in artificial intelligence (AI) and cloud computing, have accelerated commercial adoption of access control solutions market in Indonesia. Organizations are integrating AI-based analytics, prompting the deployment of 15,600 AI-enabled access control systems for real-time threat detection and data-driven decision-making. Such solutions often incorporate home security features, reflected in a 14.3% annual growth rate in residential installations. Meanwhile, 1,250 healthcare facilities across Indonesia have implemented biometric access control to safeguard patient data and control visitor entry. The pursuit of cost-effectiveness is also evident, with businesses reporting average annual savings of $12,500 through energy management features embedded in modern systems. Beyond single-site facilities, larger enterprises manage an average of 175 access points per organization, necessitating centralized platforms that consolidate device monitoring and credential management in the access control solutions market. As of 2024, 98 smart city projects across Indonesia have integrated advanced access control technologies, underscoring government and municipal initiatives for safer public spaces and smarter infrastructure. To handle diverse security requirements, 8,750 unified security platforms now combine access control, video surveillance, and alarm systems. Additionally, the industry is witnessing robust investment in securing biometric data, with $87 million allocated annually toward encryption and two-factor authentication measures. This trend aligns with a decentralized marketplace where single platforms manage an average of 7 locations each, meeting the needs of agile enterprises. Furthermore, energy-conscious organizations report 22% savings through occupancy-based authentication, reflecting the dual benefits of securing assets and minimizing overhead costs. Commercial players such as Assa Abloy and Hikvision are capitalizing on this momentum, developing integrated offerings to address varied operational complexities in banking, retail, and manufacturing environments. Biometrics Integration and Multi-Factor Authentication Solutions Transforming Market Security Landscape Biometric and multi-factor authentication solutions have emerged as critical pillars of Indonesia's access control solutions market, reshaping how institutions secure their premises and data. As of 2024, there are 3,200 digital identity management systems deployed, reflecting an increased focus on maintaining rigorous user verification protocols. Contactless technologies are also on the rise, with 1.2 million units of contactless access control devices sold annually. This shift extends into remote work models, where an average of 450 remote employees per organization rely on secure, flexible access management to uphold enterprise-wide policies. The importance of preventing data breaches is underscored by 325 major security incidents reported among organizations already utilizing access control, highlighting the ongoing need for continuous improvements. In parallel, hardware innovations have broadened the scope of solutions, with 750,000 smart locks sold annually to both commercial and residential customers. Visitor management systems, currently numbering 5,600 integrated installations, help organizations track guest movement and uphold accountability. Meanwhile, cloud platforms in the access control solutions market continue to evolve, offering an average storage capacity of 10 TB for access logs, video footage, and credential data. This flexibility encourages new market entrants, which number 35 as of 2024, to design user-centric solutions focused on seamless integrations. Multi-factor authentication processes are increasingly streamlined, taking an average of 3.5 seconds per user, thereby minimizing friction while maximizing security. Moreover, industry-specific solutions—counted at 85—are now tailored to verticals like finance, logistics, and healthcare, addressing nuanced regulatory and operational demands. Local and international players like Bosch and ZKTeco continue to invest in advanced analytics, positioning Indonesia as both a regional hub and a significant market for cutting-edge access management innovations. Evaluating Diverse End-User Verticals and Emerging Use Cases in Indonesia End-user verticals in Indonesia's access control solutions market span from multinational corporations to smaller retail outlets, driving a variety of use cases. Many businesses opt for centralized management solutions to oversee geographically dispersed branches, achieving an 18% cost reduction due to streamlined administration. A survey of 12,500 businesses shows that cost-benefit analyses for access control investments are the norm, reflecting growing accountability and ROI-focused planning. Financial institutions increasingly embrace multi-factor authentication, which is growing at 22% annually, to secure sensitive transactions and restrict unauthorized entry. AI-based anomaly detection, already active in 4,200 access control systems, allows operators to instantly flag suspicious usage patterns, illustrating the market's commitment to advanced security intelligence. Infrastructure sectors, meanwhile, benefit from the relatively long 7.5-year average hardware lifespan, ensuring stable operations and predictable upgrade cycles. Manufacturing plants integrate solutions with 28,000 IoT-connected devices, offering real-time data on employee movements, production lines, and machinery status. Training allocated to system management averages 45 hours per employee, indicating a concerted effort to enhance end-user proficiency. Mobile-based access control apps have garnered 2.8 million downloads, tapping into Indonesia's extensive smartphone user base. In tandem, remote software patches and upgrades take around 15 minutes to implement, minimizing downtime. Emerging use cases in the access control solutions market, such as predictive maintenance—which is a feature in 6,800 systems—further underscore the market's evolving capability to reduce operational costs and preempt malfunctions. With Honeywell delivering turnkey projects for high-rise buildings and ZKTeco specializing in AI-driven solutions, the ecosystem demonstrates an increasing emphasis on interoperability, convenience, and rigorous safety measures. By considering these diverse verticals, stakeholders can better tailor their investments to match Indonesia's dynamic landscape and seize opportunities in a security-conscious era. Discover more about this report before confirming your order: Future Outlook, Challenges, and Strategic Opportunities for Indonesia's Access Solutions Looking ahead, the Indonesian m access control solutions market presents numerous growth avenues, spurred by technological innovation and expanding security needs. Biometric data storage, for instance, is experiencing a 35% annual growth rate, reflecting a broader push to store and analyze authentication data for predictive security measures. Simultaneously, 9,500 real-time occupancy monitoring systems improve crowd control in malls, event venues, and office towers. Organizations handle an average of 2,500 credentials per access control system, revealing the complexity of workforce mobility and the pressing need for scalable, cloud-based architectures. Solutions offering environmental monitoring features have grown to 3,700 installations, enabling businesses to track temperature, humidity, and other factors that could impact sensitive operations. Despite the clear opportunities, companies must navigate challenges like high upfront costs, fragmented infrastructure, and the complexities of integrating legacy systems. Industry leaders, including Assa Abloy and Hikvision, are addressing these hurdles through strategic partnerships with local IT providers, driving custom solutions for Indonesia's varied markets. The potential for synergy in the access control solutions market extends to public-private collaborations targeting robust digital governance and advanced smart city frameworks. As the largest spender in IT within Southeast Asia, Indonesia continues to attract vendors seeking to refine security models for financial institutions, healthcare networks, and industrial operations. While the market holds immense promise, success ultimately hinges on building user trust, ensuring rigorous data protection, and fostering continuous innovation. By synthesizing AI, IoT, and comprehensive security analytics, stakeholders can shape an environment that seamlessly melds usability with protection. This trajectory underscores a forward-thinking approach that balances rapid urbanization, digital inclusion, and the evolving demands of a security-conscious society—positioning Indonesia's access control solutions market as both a regional leader and a blueprint for future global advancements. Indonesia Access Control Solutions Market Major Players: Golden Solution Indonesia Thano Technologies Avematic Security HIT Corporation Mandiri Citikom Indonesia, Thales Group, Other Prominent Players Key Segmentation: By Component: Hardware Card-Based Readers Magnetic Stripe Readers Proximity Card Readers Smart Card Readers Biometric Readers Fingerprint Recognition Palm Recognition Iris Recognition Facial Recognition Voice Recognition Multi-Technology Readers Electronic Locks Electromagnetic Locks Electric Strike Locks Smart Locks Controllers Serial Access Controllers IP Access Controllers Others Software On-premises Cloud-based Services Installation and Integration Maintenance and Support Access Control as a Service (ACaaS) Hosted ACaaS Managed ACaaS Hybrid ACaaS By Application: Commercial Retail stores and malls Hospitality Corporate Healthcare Others (BFSI, Personal Spaces, etc.) Industrial Manufacturing Oil & gas Energy & power Transportation Logistics Others (F&B, Packaging, Chemical, Consumer Goods, etc.) Residential Condominium Individual houses Government Institution Others (Military & Defense, Education, etc.) Tailor this report to your preferences: About Astute Analytica Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us. Contact Us:Astute AnalyticaPhone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)For Sales Enquiries: sales@ LinkedIn | Twitter | YouTube CONTACT: Contact Us: Astute Analytica Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World) For Sales Enquiries: sales@ Website: in to access your portfolio
