Ouster Selected for 110 Smart Infrastructure Projects in 2021 Signaling Market Ramp and Large-Scale Growth Opportunities

Rhea-AI Summary

Ouster, Inc. (NYSE: OUST) has been selected for 110 smart infrastructure projects worldwide, deploying nearly 3,000 digital lidar sensors in 2021. These projects, which focus on intelligent transportation, smart places, and security management, highlight Ouster's significant opportunity in the estimated $2.8 billion market for digital lidar by 2025. The company has established partnerships with over 30 solution providers to enhance digital lidar adoption and aims to expand these deployments further, positioning itself for future growth.

Positive

• Selected for 110 smart infrastructure projects, deploying nearly 3,000 digital lidar sensors.
• Estimated $2.8 billion total addressable market for digital lidar by 2025.
• Established partnerships with over 30 software integrators to accelerate digital lidar adoption.

Negative

• None.

Projects represent initial deployments of nearly 3,000 digital lidar sensors for intelligent transportation systems, smart places, and security management

SAN FRANCISCO--(BUSINESS WIRE)-- Ouster, Inc. (NYSE: OUST) (“Ouster” or “the Company”), a leading provider of high-resolution digital lidar sensors, today announced that it was selected for 110 smart infrastructure projects in 2021, representing nearly 3,000 digital lidar OS sensors for initial deployments. The smart infrastructure projects span 20 countries and encompass the intelligent transportation systems, smart places, and security management submarkets.

Ouster digital lidar deployment on a traffic intersection (Photo: Business Wire)

Ouster’s smart infrastructure vertical represents an estimated $2.8 billion TAM for digital lidar by 2025. With over 1 million signalized traffic intersections and 85 million surveillance systems in the U.S. alone, there is a considerable opportunity to augment these systems with digital lidar sensors. Digital lidar can replace expensive and unreliable ground loops, displace cameras to reduce idling time for vehicles, increase safety for pedestrians, and provide crowd analytics without compromising privacy.

In 2021, Ouster started building a robust partner ecosystem with over 30 software integrators and solution providers across major markets. This has allowed the Company to accelerate digital lidar adoption in the smart infrastructure vertical to capture incremental market share while these projects validate solutions for significantly larger deployments. These project expansions have the potential to result in hundreds of thousands of sensors.

“Digital lidar has a far-reaching role to play in modernizing infrastructure for safer roads and cities,” said Itai Dadon, Ouster’s VP of Smart Infrastructure. “Ouster’s accelerated global growth in smart infrastructure over the past year is the direct result of targeted investments and partnerships to bring turnkey perception and analytics solutions to market. The accuracy of the data combined with the reliability and affordability of our digital lidar as compared to other sensing modalities demonstrates strong product-market fit. We expect project expansions and future value-added solutions will further catalyze Ouster’s growth in smart infrastructure over the coming years.”

About Ouster

Ouster (NYSE: OUST) is building a safer and more sustainable future through its high-resolution digital lidar sensors for the automotive, industrial, smart infrastructure, and robotics industries. Ouster’s sensors offer an excellent combination of price and performance with the flexibility to span hundreds of use-cases and enable revolutionary autonomy across industries. With a global team and high-volume manufacturing, Ouster supports approximately 600 customers in over 50 countries. Ouster is headquartered in San Francisco, CA with offices in the Americas, Europe, Asia-Pacific, and the Middle East. For more information, visit www.ouster.com, or connect with us on Twitter or LinkedIn.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding Ouster’s robust partner ecosystem, its ability to enable large-scale lidar adoption, the reliability and affordability of its products, its strategy, and market positioning as it relates to its brand and competitors. Forward-looking statements give Ouster’s current expectations and projections relating to its financial condition, competitive position, future results of operations, plans, objectives, future orders whether binding or non-binding, and business. You may identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “forecast”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including but not limited to Ouster’s limited operating history and history of losses; the negotiating power and product standards of its customers; fluctuations in its operating results; cancellation or postponement of contracts or unsuccessful implementations; the adoption of its products and the growth of the lidar market generally; its ability to grow its sales and marketing organization; substantial research and development costs needed to develop and commercialize new products; the competitive environment in which it operates; selection of its products for inclusion in target markets; its future capital needs; its ability to use tax attributes; its dependence on key third party suppliers, in particular Benchmark Electronics, Inc., and manufacturers; ability to maintain inventory and the risk of inventory write-downs; inaccurate forecasts of market growth; its ability to manage growth; the creditworthiness of customers; risks related to acquisitions; risks related to international operations; risks of product delivery problems or defects; costs associated with product warranties; its ability to maintain competitive average selling prices or high sales volumes or reduce product costs; conditions in its customers industries; its ability to recruit and retain key personnel; its use of professional employer organizations; its ability to adequately protect and enforce its intellectual property rights; its ability to effectively respond to evolving regulations and standards; risks related to operating as a public company; risks related to the COVID-19 pandemic; and other important factors discussed in the Company’s final prospectus dated August 19, 2021, and in other reports the Company files with or furnishes to the Securities and Exchange Commission. Any such forward-looking statements represent management’s reasonable estimates and beliefs as of the date of this press release. While Ouster may elect to update such forward-looking statements at some point in the future, it disclaims any obligation to do so, other than as required by law, even if subsequent events cause its views to change.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220210005402/en/

Ouster:

For Investors

Sarah Ewing

investors@ouster.io

For Media

Heather Shapiro

press@ouster.io

Source: Ouster, Inc.

FAQ

What recent projects has Ouster (OUST) been involved in?

Ouster has been selected for 110 smart infrastructure projects, deploying nearly 3,000 digital lidar sensors.

What is the total addressable market for digital lidar according to Ouster?

Ouster estimates the total addressable market for digital lidar to be $2.8 billion by 2025.

How many partners does Ouster have for its lidar technology?

Ouster has formed partnerships with over 30 software integrators and solution providers.