Smart Eye Announces New Driver Monitoring System Design Win with Premium European Car Manufacturer
ACCESSWIRE 23 Nov 2022, 17:43 GMT+10
GÖTEBORG, SE / ACCESSWIRE / November 23, 2022 / Smart Eye (STO:SEYE)(OTC PINK:SMTEF)(FRA:SE9) Smart Eye will deliver its industry-leading Driver Monitoring System (DMS) software to an additional car model. The estimated revenue of the order is SEK 10 million based on estimated product life cycle projections.
Gothenburg, Sweden - November 23, 2022 - Smart Eye, the leading developer of DMS software for the automotive industry, has been selected to deliver its technology to a new electric luxury car by a European premium car manufacturer. The customer has previously chosen Smart Eye's software for implementation in an earlier car model.
The new car model including Smart Eye's technology is expected to go into production in the first half of 2024. The estimated revenue for the order is SEK 10 million, based on product life cycle volume projections.
'We are once again pleased to have an existing customer implement our DMS technology in yet another car model,' said Martin Krantz, CEO and Founder of Smart Eye. 'The 102 car models we have so far won with 15 automotive OEMs point to a great confidence in our ability to deliver robust DMS software time after time. Our proven, automotive-grade technology has already been installed in more than 1,000,000 cars on the road, and that number will keep growing fast in the next couple of years.'
Smart Eye has now received a total of 102 design wins from 15 OEMs. The combined estimated lifetime value from current design wins is now larger than SEK 2,545 million. Estimated value over the product lifecycle from possible additional design wins with the car manufacturers on existing platforms is now SEK 4,655 million.
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, 70% of the world's largest advertisers and 28% of the Fortune Global 500 companies.
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 2022-11-23 08:30 CET.