Mr. Jiaqi Gao made a speech before lunch, during which he explained development trends in the modern security industry, and presented the advantages offered by Dahua Technology. 

According to a report by Marketsandmarkets, the IoT in smart cities market is projected to grow from USD 79.5 billion in 2018 to USD 219.6 billion by 2023 at a Compound Annual Growth Rate (CAGR) of 22.5% from 2018 to 2023. It requires tight integration and collaboration of chip suppliers, device manufacturers, application developers, cloud computing, and big data technology amongst others.

With the development from a device oriented to an application/solution oriented industry, understanding the business challenges, tailoring the solutions to address these challenges and monetising its data, have become essential parts of the value chain, thus, an open system and collaboration between different players in the value chain are a must.

“Dahua Technology, as a video-centric smart IoT solution and service provider, has multi-dimensional data collection technologies, know-how and expertise in monetising and utilising video-centric data, and continuously strong R&D capabilities,” said Mr. Gao.

By actively participating in the formulation of agreements on industry standards like ONVIF, exploring hardware ecosystems by joining OSSA, and opening up its own hardware platform such as DHOP, Dahua Technology is slowly but steadily helping to build the open technology structure. The company introduced its DIPP (Dahua Integration Partner Program) protection scheme in 2017 in order to ensure that its partners receive corresponding technological benefits and commercial profit.