Smart Eye Announces New Automotive Interior Sensing AI Design Win with European Premium Car Manufacturer
- Smart Eye receives a substantial order of SEK 100 million for its Automotive Interior Sensing AI technology.
- The order includes both Driver Monitoring System (DMS) software and Cabin Monitoring System (CMS) software for a new car model.
- The technology enables key safety features like seat belt detection, child seat monitoring, and occupant body position tracking.
- Smart Eye expects additional design wins on the same platform, potentially totaling SEK 500 million over the product lifecycle.
- The company has received a total of up to 320 design wins from 21 OEMs, with a combined estimated lifetime value exceeding SEK 7.350 billion.
- None.
GÖTEBORG, SWEDEN / ACCESSWIRE / March 13, 2024 / Smart Eye (STO:SEYE)(OTC PINK:SMTEF)(FRA:SE9) Smart Eye will deliver its Automotive Interior Sensing AI, which combines Driver Monitoring System (DMS) software and Cabin Monitoring System (CMS) software, to an additional car model. The estimated revenue of the order is SEK 100 million based on estimated product life cycle projections.
Smart Eye, the leading developer of DMS software for the automotive industry, has been selected to deliver its Automotive Interior Sensing AI technology to a new car model by an existing customer, a premium European car manufacturer. While the customer has previously sourced Smart Eye's DMS software, this is the first of its car models to also include the company's CMS technology.
By combining DMS with CMS, Smart Eye's Automotive Interior Sensing AI unlocks insight into the state of the driver, the cabin, and everyone in it. This enables car manufacturers to offer a range of features and services that enhance safety and convenience in the vehicle. Key safety features enabled by this technology include detection of seat belt use, child seats, and occupant body positions. In turn, this information can be vital for informing adaptive restraint systems to ensure safe deployment of safety measures, such as airbags.
The new car model, including Smart Eye's technology, will go into production in 2025. The estimated revenue for the order is SEK 100 million, based on product life cycle volume projections. The estimated value of possible additional design wins on the same platform amounts to SEK 500 million over the product lifecycle.
"It's clear to see that the market for interior sensing is now growing at a very fast pace," said Martin Krantz, CEO and Founder of Smart Eye. "This is the fifth design win we've received for our Automotive Interior Sensing AI in the last two weeks, and we expect more to follow as the industry continues to embrace the safety and comfort features enabled by this technology. Thanks to the merger with Affectiva in 2021, Smart Eye is well-positioned to lead this new market. "
Smart Eye has now received a total of up to 320 design wins from 21 OEMs. The combined estimated lifetime value from current design wins is now larger than SEK 7.350 billion. The estimated value over the product lifecycle from possible additional design wins with all 21 car manufacturers is SEK 3.850 billion.
For more information:
Martin Krantz, CEO Smart Eye AB
Phone: +46 70-329 26 98
Email: martin.krantz@smarteye.se
About Smart Eye
Smart Eye is the leading provider of Human Insight AI, technology that understands, supports and predicts human behavior in complex environments. The company is on a mission to bridge the gap between humans and machines for a safe and sustainable future. Supported by Affectiva and iMotions - companies it acquired in 2021 - Smart Eye's multimodal software and hardware solutions provide unparalleled insight into human behavior.
In automotive, Smart Eye's driver monitoring systems and interior sensing solutions improve road safety and the mobility experience. The company's eye tracking technology and iMotions biosensor software platform are also used in behavioral research to enable advanced research in academic and commercial sectors. In media analytics, Affectiva's Emotion AI provides the world's largest brands and market researchers with a deeper understanding of how consumers engage with content, products, and services.
Founded in 1999, Smart Eye is a global company headquartered in Sweden, with customers including NASA, Nissan, Boeing, Honeywell, Volvo, GM, BMW, Polestar, Geely, Harvard University, 26 percent of the Fortune Global 500 companies, and over 1,300 research organizations around the world.
Visit www.smarteye.ai for more information.
Visit our investor web for more financial information: https://smarteye.se/investors/
Smart Eye is listed on the Nasdaq First North Growth Market. The Company's Certified Adviser is Carnegie Investment Bank AB (publ).
This information is information that Smart Eye is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-03-13 08:30 CET.
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