Wearable Devices Breaks into the Automotive Sector with Leading European Automobile Manufacturer
Wearable Devices (Nasdaq: WLDS) has successfully implemented its touchless control technology in a demonstration car at a leading European automobile manufacturer's showroom. This marks the company's entry into the automotive industry. The European manufacturer purchased the Mudra Development Kit (MDK) with hardware and professional services.
The demonstration showcases how drivers can manage in-car functions and back seat passengers can enjoy entertainment using gesture control. This implementation aims to enhance the driving experience by allowing interaction with vehicle systems without physical touch, promoting convenience and safety. The collaboration presents a significant opportunity for innovation in user interfaces as vehicles become more technologically advanced.
I dispositivi indossabili (Nasdaq: WLDS) hanno implementato con successo la propria tecnologia di controllo senza contatto in una vettura dimostrativa presso il showroom di un importante produttore automobilistico europeo. Questo segna l'ingresso dell'azienda nel settore automobilistico. Il produttore europeo ha acquistato il Mudra Development Kit (MDK) con hardware e servizi professionali.
La dimostrazione mostra come i conducenti possano gestire le funzioni dell'auto e i passeggeri dei sedili posteriori possano godere dell'intrattenimento utilizzando il controllo gestuale. Questa implementazione punta a migliorare l'esperienza di guida consentendo l'interazione con i sistemi del veicolo senza contatto fisico, promuovendo la convenienza e la sicurezza. La collaborazione rappresenta un'opportunità significativa per l'innovazione nelle interfacce utente man mano che i veicoli diventano più avanzati tecnologicamente.
Los Dispositivos Portátiles (Nasdaq: WLDS) han implementado con éxito su tecnología de control sin contacto en un automóvil de demostración en la sala de exhibición de un importante fabricante de automóviles europeo. Esto marca la entrada de la empresa en la industria automotriz. El fabricante europeo adquirió el Mudra Development Kit (MDK) con hardware y servicios profesionales.
La demostración muestra cómo los conductores pueden gestionar funciones del automóvil y los pasajeros de los asientos traseros pueden disfrutar de entretenimiento usando control por gestos. Esta implementación busca mejorar la experiencia de conducción al permitir la interacción con los sistemas del vehículo sin contacto físico, promoviendo la comodidad y la seguridad. La colaboración presenta una oportunidad significativa para la innovación en las interfaces de usuario a medida que los vehículos se vuelven más avanzados tecnológicamente.
웨어러블 디바이스 (Nasdaq: WLDS)는 유명 유럽 자동차 제조사의 전시장에 데모 카에서 비접촉 제어 기술을 성공적으로 구현했습니다. 이는 회사의 자동차 산업 진입을 의미합니다. 유럽 제조업체는 하드웨어와 전문 서비스를 포함하는 무드라 개발 키트(MDK)를 구입했습니다.
이 데모는 운전자가 차량 내 기능을 관리하고 뒷좌석 승객이 제스처 제어를 사용하여 엔터테인먼트를 즐길 수 있는 방법을 보여줍니다. 이 구현은 물리적 접촉 없이 차량 시스템과 상호작용할 수 있도록 하여 운전 경험을 향상시키는 것을 목표로 하며, 편리함과 안전성을 증진합니다. 협업은 차량이 더욱 기술적으로 발전함에 따라 사용자 인터페이스 혁신을 위한 중요한 기회를 제시합니다.
Les dispositifs portables (Nasdaq: WLDS) ont réussi à mettre en œuvre leur technologie de contrôle sans contact dans une voiture de démonstration dans le showroom d'un important fabricant automobile européen. Cela marque l'entrée de l'entreprise dans l'industrie automobile. Le fabricant européen a acheté le Mudra Development Kit (MDK) avec du matériel et des services professionnels.
La démonstration montre comment les conducteurs peuvent gérer les fonctions à bord et comment les passagers arrière peuvent profiter de divertissements à l'aide du contrôle par gestes. Cette mise en œuvre vise à améliorer l'expérience de conduite en permettant l'interaction avec les systèmes du véhicule sans contact physique, promouvant ainsi la commodité et la sécurité. La collaboration représente une opportunité significative pour l'innovation dans les interfaces utilisateur à mesure que les véhicules deviennent de plus en plus avancés technologiquement.
Tragbare Geräte (Nasdaq: WLDS) haben ihre kontaktlose Steuerungstechnologie erfolgreich in einem Demofahrzeug in einer Ausstellung eines führenden europäischen Automobilherstellers implementiert. Dies markiert den Eintritt des Unternehmens in die Automobilindustrie. Der europäische Hersteller erwarb das Mudra Development Kit (MDK) mit Hardware und professionellen Dienstleistungen.
Die Demonstration zeigt, wie Fahrer die Funktionen im Fahrzeug steuern können und die Passagiere auf der Rückbank Unterhaltung genießen können, indem sie Gestensteuerung verwenden. Diese Implementierung zielt darauf ab, das Fahrerlebnis zu verbessern, indem die Interaktion mit den Fahrzeugsystemen ohne körperlichen Kontakt ermöglicht wird, und fördert die Bequemlichkeit und Sicherheit. Die Zusammenarbeit stellt eine bedeutende Gelegenheit zur Innovation bei Benutzeroberflächen dar, da Fahrzeuge technologisch fortschrittlicher werden.
- Successful proof-of-concept implementation with a leading European automobile manufacturer
- Entry into the automotive industry, expanding market reach
- Technology showcased in a demonstration car at manufacturer's showroom
- Sale of Mudra Development Kit (MDK) with hardware and services
- None.
Insights
Wearable Devices' entry into the automotive sector with their Mudra technology marks a significant milestone in the evolution of in-vehicle user interfaces. This proof-of-concept implementation with a leading European automobile manufacturer demonstrates the potential for touchless control systems to revolutionize driver-vehicle interaction.
The integration of gesture control technology in automobiles addresses several key industry trends:
- Enhanced safety by reducing driver distraction
- Improved user experience for both drivers and passengers
- Alignment with the increasing digitalization of vehicle interfaces
However, it's important to note that this is still at the demonstration stage. The real test will be in the widespread adoption and integration of this technology across production models. Factors such as reliability, user acceptance and cost-effectiveness will play pivotal roles in determining the long-term success of this innovation.
From an investor's perspective, while this development shows promise, it's important to consider that the automotive industry has long development cycles. It may take several years before we see this technology implemented in mass-produced vehicles, if at all. Additionally, competition in the automotive tech space is fierce, with many established players and startups vying for partnerships with major manufacturers.
Overall, this proof-of-concept represents a positive step for Wearable Devices, potentially opening up a new market segment for their technology. However, investors should remain cautious and monitor future developments, particularly any announcements regarding production contracts or expanded partnerships in the automotive sector.
The collaboration between Wearable Devices and a leading European automobile manufacturer signifies a strategic move into the lucrative automotive market. This sector presents a substantial opportunity for growth, given the increasing integration of advanced technologies in modern vehicles.
Key market considerations include:
- The global automotive gesture recognition market size was valued at
$1.1 billion in 2023 and is projected to reach$4.2 billion by 2030, growing at a CAGR of21.2% from 2024 to 2030. - The automotive industry's shift towards more intuitive and safer human-machine interfaces (HMI) aligns perfectly with Wearable Devices' touchless control technology.
- Increasing consumer demand for advanced in-vehicle infotainment systems and enhanced user experiences is driving innovation in this space.
However, investors should be aware of potential challenges:
- The automotive industry has long development cycles, which could delay significant revenue generation.
- Competition from established automotive suppliers and other tech companies entering this space could be intense.
- Regulatory hurdles and safety standards in the automotive industry may present additional barriers to entry.
While this proof-of-concept is promising, it's important to note that it's still in the early stages. The transition from demonstration to mass production can be a lengthy and complex process in the automotive industry. Investors should closely monitor future announcements regarding production contracts or expanded partnerships to gauge the long-term potential of this venture.
In conclusion, this development represents a positive step for Wearable Devices, potentially diversifying their revenue streams and expanding their market reach. However, the path to significant market penetration in the automotive sector is likely to be gradual and challenging.
Wearable Devices' Technology to Be Showcased in a Demonstration Car at the European Manufacturer's Showroom
YOKNEAM ILLIT, ISRAEL, July 29, 2024 (GLOBE NEWSWIRE) -- Wearable Devices Ltd. (the “Company” or “Wearable Devices”) (Nasdaq: WLDS, WLDSW), a technology growth company specializing in artificial intelligence (“AI")-powered touchless sensing wearables, today announced a successful proof-of-concept implementation of its touchless control technology in a demonstration car at leading European automobile manufacturer’s showroom. This collaboration marks Wearable Devices' first foray into the automotive industry and comes after the European manufacturer has purchased the Mudra Development Kit (MDK) with hardware, including several bracelets and professional services.
The European automobile manufacturer is currently using Wearable Devices' touchless control technology in a demonstration car located in its showroom. This setup allows potential customers and stakeholders to experience firsthand the seamless intuitiveness and use of gesture control with the vehicle's digital interfaces. The demonstration highlights how drivers can effortlessly manage various in-car functions, as well as allowing back seat passengers to enjoy the back seat large screen entertainment, thereby enhancing the overall backseat and driving experience.
The MDK enables developers to integrate sophisticated gesture control functionalities into their systems, leveraging Wearable Devices' innovative Mudra technology. The automobile manufacturer has implemented this technology to enhance the driving experience by allowing drivers to interact with their vehicles’ systems without the need for physical touch, promoting both convenience and safety.
Asher Dahan, Chief Executive Officer of Wearable Devices, commented: "We are thrilled to partner with a leading European automobile manufacturer to bring our touchless control technology to the automotive industry. As modern vehicles increasingly rely on screens and digital interfaces, the need for intuitive and safe interaction methods is more important than ever. Our Mudra technology allows drivers to focus on the road while enabling passengers in the back seats to enjoy in-vehicle entertainment and relaxing seating experiences."
The integration of Wearable Devices' touchless technology into the automotive sector presents a significant opportunity for innovation in user interfaces. As vehicles become more technologically advanced, the demand for seamless and safe interaction methods grows. Wearable Devices' Mudra technology addresses this need by offering a hands-free control solution that enhances both user convenience and driving safety.
About Wearable Devices Ltd.
Wearable Devices Ltd. is a growth company developing AI-based neural input interface technology for the B2C and B2B markets. The Company’s flagship product, the Mudra Band for Apple Watch, integrates innovative AI-based technology and algorithms into a functional, stylish wristband that utilizes proprietary sensors to identify subtle finger and wrist movements allowing the user to “touchlessly” interact with connected devices. The Company also markets a B2B product, which utilizes the same technology and functions as the Mudra Band and is available to businesses on a licensing basis. Wearable Devices Is committed to creating disruptive, industry leading technology that leverages AI and proprietary algorithms, software, and hardware to set the input standard for the Extended Reality, one of the most rapidly expanding landscapes in the tech industry. The Company’s ordinary shares and warrants trade on the Nasdaq market under the symbol “WLDS” and “WLDSW”, respectively.
Forward-Looking Statement Disclaimer
This press release contains “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, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. For example, we are using forward-looking statements when we discuss the benefits and advantages of the MDK and our technology, including its potential in the automotive sector. All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our use of proceeds from the offering; the trading of our ordinary shares or warrants and the development of a liquid trading market; our ability to successfully market our products and services; the acceptance of our products and services by customers; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; our ability to comply with applicable regulations; and the other risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2023, filed on March 15, 2024 and our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Investor Relations Contact
Walter Frank
IMS Investor Relations
203.972.9200
wearabledevices@imsinvestorrelations.com
FAQ
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