Rekor's Industry-Leading Public Safety Solutions Now Available in AWS Marketplace and Amazon Business

Rhea-AI Summary

Rekor Systems, Inc. (NASDAQ:REKR) has announced the availability of its Rekor Scout® Platform in AWS Marketplace and Rekor Edge Pro on Amazon Business. This move simplifies procurement for security and safety initiatives using Rekor's AI-driven vehicle recognition technology. The Rekor Scout® Platform provides real-time intelligence through AI-driven software, offering accurate vehicle and license plate recognition on various camera types. It extracts detailed vehicle information and enables instant action or in-depth investigations.

The Rekor Edge Pro, now available on Amazon Business, is a complete on-device AI solution for roadway deployments. It's designed for easy setup in neighborhoods, campuses, and business districts, providing comprehensive security, parking, and access control solutions. Built on AWS, Rekor Scout® utilizes various AWS services for global-scale operations in AI/ML, security, privacy, storage, streaming, and analytics.

Positive

• Rekor Scout® Platform now available in AWS Marketplace, simplifying procurement for customers
• Rekor Edge Pro launched on Amazon Business, expanding market reach
• AI-driven technology offers real-time intelligence and accurate vehicle recognition
• Platform leverages AWS services for global-scale operations
• Positive testimonial from law enforcement user highlighting system's effectiveness

Negative

• None.

Tech Expert

Rekor Systems' strategic move to make its AI-driven vehicle recognition technology available on AWS Marketplace and Amazon Business is a significant step towards expanding its market reach and simplifying procurement for potential customers. This decision aligns with the growing trend of cloud-based solutions and could potentially accelerate Rekor's revenue growth.

The integration with AWS services, including Amazon S3, SQS, ElastiCache, RDS and ECS, demonstrates Rekor's commitment to leveraging cloud infrastructure for scalability and performance. This could lead to improved operational efficiency and cost-effectiveness, which may positively impact the company's bottom line.

However, it's important to note that while this move enhances accessibility, it also places Rekor in a highly competitive marketplace. The company will need to continuously innovate and differentiate its offerings to maintain a competitive edge. Additionally, the success of this strategy will largely depend on Rekor's ability to effectively market its products within these new channels and convert increased visibility into actual sales.

From an investor's perspective, this development could potentially lead to accelerated customer acquisition and revenue growth. However, it's important to monitor how this translates into actual financial performance in the coming quarters.

Market Research Analyst

Rekor's expansion into AWS Marketplace and Amazon Business is a strategic move that could significantly impact its market position in the public safety and vehicle recognition technology sector. This decision addresses two critical aspects of the market:

• Simplified procurement process for government agencies and businesses
• Increased visibility in a rapidly growing cloud services market

The public safety solutions market is expected to grow at a CAGR of 9.3% from 2021 to 2026, reaching $518 billion by 2026. Rekor's positioning on these platforms could help it capture a larger share of this expanding market.

However, it's important to consider the competitive landscape. While Rekor claims industry-leading accuracy, other players like Motorola Solutions and Axon Enterprise also offer advanced AI-driven public safety solutions. Rekor will need to maintain its technological edge and competitive pricing to stand out in the AWS Marketplace.

The endorsement from Captain Michael Credico of the North Caldwell Police Department adds credibility to Rekor's claims of superior performance. Such testimonials could be important in influencing purchasing decisions, especially among law enforcement agencies.

Investors should monitor Rekor's customer acquisition rate and revenue growth in the coming quarters to assess the impact of this new distribution strategy. While the potential is significant, execution will be key to translating this opportunity into tangible financial results.

Financial Analyst

Rekor Systems' (NASDAQ: REKR) strategic move to list its products on AWS Marketplace and Amazon Business could potentially impact its financial performance in several ways:

• Revenue Growth: The expanded distribution channels could accelerate customer acquisition, potentially leading to increased revenue. However, the actual impact will depend on conversion rates and sales performance within these new platforms.
• Margins: While the move may boost sales, it's important to consider potential impacts on margins. AWS Marketplace and Amazon Business typically charge fees, which could affect Rekor's profit margins. The company will need to balance increased sales volume with potential fee-related costs.
• Operating Expenses: The cloud-based nature of Rekor's offerings, leveraging AWS services, could lead to more predictable and potentially lower operating expenses compared to traditional on-premises solutions.
• Cash Flow: Simplified procurement processes could lead to faster sales cycles and improved cash flow. However, this will depend on the payment terms within these platforms.

Investors should closely monitor Rekor's upcoming financial reports to assess the impact of this strategy on key metrics such as revenue growth rate, gross margins and customer acquisition costs. It's also important to evaluate how this move affects Rekor's competitive position and market share in the public safety solutions sector.

While this development shows promise, it's important to maintain a balanced view. The company's ability to capitalize on this opportunity while managing potential challenges will be critical in determining the long-term financial impact of this strategic decision.

Simplified Procurement Accelerates Security and Safety Initiatives that use Rekor's AI-Driven Vehicle Recognition Technology

COLUMBIA, MD / ACCESSWIRE / August 2, 2024 / Rekor Systems, Inc. (NASDAQ:REKR) (the "Company"), a trusted global authority in developing and delivering roadway intelligence using state-of-the-art artificial intelligence and machine learning (AI/ML), today announced the availability of its Rekor Scout® Platform in AWS Marketplace and Rekor Edge Pro on Amazon Business.

The AWS Marketplace is a digital catalog with thousands of software listings from independent software vendors. It makes finding, testing, buying, and deploying software running on Amazon Web Services (AWS) easy. Amazon Business combines Amazon's vast selection, convenience, and value with features designed to enhance business operations.

"In today's environment where understaffed departments face increasing safety and security challenges with outdated manual processes and legacy technologies, a comprehensive public safety platform that uses advanced license plate and vehicle recognition is transformative for law enforcement, commercial businesses, homeowners' associations, and communities. The Rekor Scout® Platform provides real-time intelligence through force-multiplying technology that is mission-critical. Now available in AWS Marketplace, procuring this essential solution is faster and easier than ever," said David Desharnais, Rekor President and CEO.

Rekor Scout® Platform: Powerful AI-Driven Vehicle & License Plate Recognition

The Rekor Scout® Platform in AWS Marketplace provides a powerful, user-friendly, AI-driven software solution delivering industry-leading accuracy, real-time alerting, sophisticated investigative tools, searchable databases, individual and shared hotlists, flexible data retention, and more. Leveraging proprietary AI algorithms, Rekor Scout® enables accurate vehicle and license plate recognition on nearly any IP, traffic, or security camera, extracting license plate numbers, state of origin, vehicle make, model, color, direction of travel, vehicle type, and more. Customers gain real-time actionable insights, allowing them to act instantly or conduct in-depth forensic investigations. With thousands of global customers, Rekor Scout® is improving safety and security through the latest in public safety technology.

AWS customers can now access Rekor Scout® directly within AWS Marketplace, streamlining the purchase and management of the platform within their AWS Marketplace account. Rekor Scout® is just one component of Rekor's comprehensive suite of roadway intelligence solutions for the public safety and transportation industries that customers can procure within AWS Marketplace, including Rekor Command™ for AI-powered traffic management and Rekor Discover™ for automated traffic analytics.

Rekor Edge Pro: Complete On-Device AI Solution for Roadway Deployments

Rekor Edge Pro is a complete license plate and vehicle recognition system engineered for roadway speeds, leveraging industry-leading on-device AI. Designed for easy setup and deployment in neighborhoods, campuses, and business districts, Rekor Edge Pro provides a comprehensive solution for security, parking, and access control use cases. The all-in-one system, embedded with a GPU and processing power, performs advanced AI computations on-device at the roadside. Integrated with Rekor Scout®, this system enables rapid, accurate identification of license plates and vehicle recognition details. With an IP67 & NEMA4 rating, Rekor Edge Pro ensures durability and accuracy across adverse weather conditions, day and night -- guaranteeing durability and accuracy across adverse weather conditions, day and night. Independently tested against other ALPR/ANPR providers, Rekor Edge Pro consistently delivers leading results and is now available for purchase on Amazon Business, making it accessible to a wide range of customers.

A long-time user of Rekor Scout®, Captain Michael Credico of the North Caldwell Police Department added, "As a law enforcement agency committed to public safety, we evaluated multiple ALPR vendors. After careful and comprehensive evaluation, our decision to select Rekor Scout® as our preferred solution was made with unwavering confidence. The factors pivotal to our choice included its unparalleled accuracy in license plate recognition, its real-time alerting capabilities, and its seamless integration into our current video networks. The attributes of Rekor Scout® play a crucial role in supporting our operational needs and enhancing our ability to ensure public safety. One of the standout features of the Scout platform is its capability to extract detailed information, such as license plate numbers and vehicle specifics, from a variety of camera sources. This functionality equips our officers with critical real-time data, empowering them to respond swiftly and effectively to incidents. Overall, we firmly believe that Rekor Scout® will significantly bolster our safety and security efforts, providing us with advanced tools and reliable technology to better protect our communities."

Powered by and built on AWS, Rekor Scout® leverages a suite of AWS services, including Amazon Simple Storage Service (Amazon S3), Amazon Simple Queue Service (Amazon SQS), Amazon ElastiCache, Amazon Relational Database Service (Amazon RDS) and Amazon Elastic Container Service (Amazon ECS), to operate AI/ML, security, privacy, storage, streaming, and analytics at a global scale.

About Rekor Systems, Inc.

Rekor Systems, Inc., (NASDAQ:REKR) is a trusted global authority in developing and delivering roadway intelligence utilizing state-of-the-art AI and machine learning. Pioneering the implementation of digital infrastructure in our communities, Rekor is redefining infrastructure by collecting, connecting, and organizing the world's mobility data - laying the foundation for a digital-enabled operating system for the road. With our Rekor One™ Roadway Intelligence Engine at the foundation of our technology, we aggregate and transform trillions of data points into intelligence through proprietary computer vision, machine learning, and big data analytics that power our platforms and applications. Our solutions provide actionable insights that give governments and businesses a comprehensive picture of roadways while providing a collaborative environment that drives the world to be safer, greener, and more efficient. To learn more, please visit our website: https://rekor.ai, and follow Rekor on social media on LinkedIn, X (formerly Twitter), Threads and Facebook.

Forward-Looking Statements

This press release and its links and attachments contain statements concerning Rekor Systems, Inc. and its future expectations, plans, and prospects that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the impact of Rekor's core suite of AI-powered technology and the size and shape of the global market for the Company's products and services. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements that are not statements of historical fact may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue," by the negative of these terms or by other similar expressions. You are cautioned that such statements are subject to many risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual circumstances, events or results may differ materially from those projected in the forward-looking statements, particularly as a result of various risks and other factors identified in our filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events, or otherwise.

Media & Investor Relations Contact:

Rekor Systems, Inc.
Charles Degliomini
ir@rekorsystems.com

SOURCE: Rekor Systems, Inc.

View the original press release on accesswire.com

FAQ

What products did Rekor Systems (REKR) announce availability for in AWS Marketplace and Amazon Business?

Rekor Systems announced the availability of its Rekor Scout® Platform in AWS Marketplace and Rekor Edge Pro on Amazon Business.

How does Rekor's (REKR) AI-driven vehicle recognition technology benefit public safety?

Rekor's technology provides real-time intelligence, accurate vehicle and license plate recognition, and enables instant action or in-depth investigations, enhancing safety and security for law enforcement and communities.

What are the key features of Rekor Systems' (REKR) Rekor Edge Pro?

Rekor Edge Pro is a complete on-device AI solution for roadway deployments, offering easy setup, comprehensive security, parking, and access control solutions, with durability for adverse weather conditions.

How does Rekor Scout® Platform (REKR) integrate with AWS services?

Rekor Scout® Platform leverages AWS services including Amazon S3, SQS, ElastiCache, RDS, and ECS for AI/ML, security, privacy, storage, streaming, and analytics at a global scale.