Smart Eye Announces One Driver Monitoring System Design Win with New OEM Customer
Smart Eye has secured a new Driver Monitoring System (DMS) design win from a major European car manufacturer, projected to generate estimated revenues of SEK 50 million. The new order includes the delivery of their AI-based DMS software for a car model expected to enter production in 2024. With this latest win, Smart Eye's total design wins now stand at 101 from 15 OEMs, potentially increasing their estimated lifetime value from current design wins to over SEK 2,535 billion.
- Secured new DMS design win from a major European car manufacturer with estimated revenue of SEK 50 million.
- Total design wins increased to 101 from 15 OEMs, reflecting strong market presence.
- Estimated lifetime value of current design wins exceeds SEK 2,535 billion.
- None.
GÖTEBORG, SE / ACCESSWIRE / October 21, 2022 / Smart Eye (STO:SEYE) (OTC PINK:SMTEF) (FRA:SE9) Smart Eye receives one new Driver Monitoring System (DMS) design win from a major European car manufacturer. The estimated revenue of the order is SEK 50 million based on estimated product life cycle projections.
Gothenburg, Sweden - October 21, 2022 - Smart Eye, the leading developer of DMS software to the automotive industry, has received an order from a new OEM customer. The car manufacturer is a major brand in a European-American automotive alliance, which constitutes one of the largest vehicle producers in the world.
The new nomination means Smart Eye will deliver its AI-based driver monitoring system software to one new car model on an existing platform. The model to include Smart Eye's technology is estimated to go into production in 2024. The estimated revenue for the order is SEK 50 million, based on product life cycle volume projections.
"I'm excited to deliver our market-leading technology to yet another car manufacturer - our second OEM customer included in one of the world's largest automotive alliances", said Martin Krantz, CEO and Founder of Smart Eye. "Thanks to updated legislation, regulations and safety rating requirements, every new car launched on the European market needs to include DMS. It's already becoming common practice for us to win new car models on existing platforms, and we can expect to keep winning many more in the future."
Smart Eye has now received a total of 101 design wins from 15 OEMs. The combined estimated lifetime value from current design wins is now larger than SEK 2,535 billion. Estimated value over the product lifecycle from possible additional design wins with the car manufacturers on existing platforms is now SEK 4,465 billion.
For more information:
Martin Krantz, CEO Smart Eye AB
Phone: +46 70-329 26 98
Email: martin.krantz@smarteye.se
Anders Lyrheden, CFO Smart Eye AB
Phone: +46 70-320 96 95
Email: anders.lyrheden@smarteye.se
About Smart Eye
Smart Eye is the global leader in Human Insight AI, technology that understands, supports, and predicts human behavior in complex environments. We are bridging the gap between humans and machines for a safe and sustainable future. Our multimodal software and hardware solutions provide unprecedented human insight in automotive and behavioral research-supported also by Affectiva and iMotions, companies we acquired in 2021.
In automotive, we are leading the way towards safer and human-centric mobility through Driver Monitoring Systems and Interior Sensing solutions. Our technology is embedded in next-generation vehicles and available as a standalone aftermarket solution for existing vehicles, fleet, and small-volume OEMs.
Our industry-leading eye tracking systems and iMotions biosensor software enable advanced research and training in academic and commercial sectors. Affectiva's Emotion AI provides the world's largest brands and market researchers with a deeper understanding of how consumers engage with their content, products, and services.
Smart Eye was founded in 1999 and is headquartered in Sweden with offices in the US, UK, Germany, Denmark, Egypt, Singapore, China and Japan. A publicly traded company since 2016, our customers include NASA, Nissan, Boeing, Honeywell, Volvo, GM, BMW, Geely, Harvard University, 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 Nasdaq First North Growth Market. Erik Penser is Certified Adviser.
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 2022-10-21 11:30 CEST.
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Smart Eye Announces One Driver Monitoring System Design Win with New OEM Customer
SOURCE: Smart Eye
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