Smart Eye has been awarded four more design wins from an existing customer. It's for additional car models on the same platform where one design win has already been awarded. The European premium car manufacturer will launch these additional four car models with driver monitoring systems in the period 2019 to 2020.
The order value is estimated to exceed 125 MSEK for the four car models based on product life cycle volume projections. A successful migration of the initial five cars to subsequent car models for the same platform may lead to a total estimated revenue exceeding 450 MSEK over the product life cycles. This potential scenario is contingent on future design wins with the aforementioned OEM. The combined estimated order value of all 29 car models Smart Eye so far has been awarded design wins for exceeds 850 MSEK over the product life cycles.
"Again, it's reinforced that Smart Eye is positioned as the leading provider of eye-tracking technology for driver monitoring systems for both autonomous level 2 and level 3 cars in the European premium market. Driver monitoring is heading towards becoming standard in most autonomous driving scenarios, with Euro NCAP and legislative initiatives further fueling the demand", says Martin Krantz, CEO of Smart Eye AB.
Altogether, Smart Eye has received a total of 29 auto industry design wins with five OEMs. These multiple design wins firmly establish Smart Eye as the industry-leading developer of driver monitoring technology. Further international procurements are currently ongoing, with various global vehicle manufacturers establishing supplier relationships for both the first- and second- generation driver monitoring systems. The total potential value of these exceeds 10 Billion SEK. Smart Eye is well positioned to achieve further successes in these processes.
For more information
Martin Krantz, CEO Smart Eye AB
Phone: +46 70-329 26 98
Anders Lyrheden, CFO Smart Eye AB
Phone: +46 70-320 96 95
About Smart Eye
Bridging the gap between man and machine since 1999. Smart Eye develops artificial intelligence (AI) powered eye tracking technology that understands, assists and predicts human intentions and actions. By studying a person's eye, face and head movements, our technology can draw conclusions about an individual's alertness, attention, focus and gain insights into a person's awareness and mental status.
Today, our eye tracking technology is embedded in the next generation of vehicles, helping the automotive industry take another step towards safer and more eco-friendly transportation. Our research instruments offer unparalleled performance in complex, real-world situations, paving the way for new insights in aerospace, aviation, psychology, neuroscience, medical and clinical research.
Smart Eye is headquartered in Gothenburg, Sweden and has offices in Michigan, USA, Tokyo, Japan and Chongqing, China, as well as having partners, resellers and distributors in Europe, USA and APAC. Its solutions are used by more than 700 clients all over the world by leading research groups, brands and labs such as US Air Force, Nasa, BMW, Lockheed Martin, Audi, Boeing, Volvo, GM, and many more.
Smart Eye is listed on First North. Erik Penser is Certified Adviser and can be reached at +46-8-463 8000.
This information is information that Smart Eye AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at November 19th, 2018 at 08:30 CET.
(c) 2018 Cision. All rights reserved., source Press Releases - English