Iveda recently announced a new patent pending for LevelNOW, its advanced tracking and monitoring system designed to revolutionise liquid storage and management, which now covers its IoT sensor.
In industries such as oil and gas, where billions are invested annually in liquid storage infrastructure, LevelNOW provides real-time monitoring and control to address critical issues like leaks, evaporation, and theft during liquid transit and storage. This pioneering solution offers operators precise data and timely alerts, aiming to reduce costly losses and enhance operational efficiency. The patent covers LevelNOW’s IoT sensor, which can measure liquid levels externally on containers of various shapes and sizes, eliminating the need for expensive internal sensor replacements.
LevelNOW is already making a significant impact on customer service for a major oil company in Australia. As oil levels deplete for their customers, the technology enables the timely dispatch of refills, ensuring uninterrupted service.
The market for intermediate bulk containers (IBC) and metal drums is expected to exceed $24.1 billion by 2030, with the safe storage and transport of metal drums identified as a key growth opportunity. The ability to integrate IoT sensors with existing equipment and transmit data to the LevelNOW platform directly addresses this opportunity, allowing the system to take data-driven actions on behalf of human operators, thereby increasing both accuracy and efficiency.
“This innovation comes from being in the field with our customers and truly listening to their needs and desires,” said David Ly, CEO and Founder of Iveda. “When Iveda develops a new solution for a customer pain point, we always prioritise working with their pre-existing equipment over reinventing the wheel. Not only does this provide major cost savings, but also saves time as users don’t need to learn to operate new gear. By enhancing our LevelNOW solution through this new patent, Iveda is underscoring its commitment to industry-specific innovation that simplifies everyday workflows.”
Since its launch in May, Iveda has sold hundreds of LevelNOW units, demonstrating the solution’s effectiveness and indicating strong market acceptance and potential for broader adoption.
“Providing a critical partnership for the oil and gas industry, Iveda has demonstrated its dedication to creating solutions that make our jobs easier,” said Rakesh Takoo, Managing Director of Auzpack. “With LevelNOW, we’re able to offer the benefit of real-time intelligent data management for all who handle 200-liter containers. As a previous executive at the largest container and drum company in the world, I’ve seen first hand the challenges within liquid storage management; with LevelNOW, Iveda is solving decades-old problems, providing reliable and efficient solutions for our customers.”
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