Smart Eye (STO:SEYE) (OTC PINK:SMTEF) (FRA:SE9) Smart Eye receives 34 new Driver Monitoring System (DMS) design wins from three global car manufacturers. The estimated revenue of the order is SEK 350 million based on estimated product life cycle projections.
GOTHENBURG, SWEDEN / ACCESSWIRE / December 9, 2022 / Smart Eye, the leading developer of DMS software to the automotive industry, has received 34 design wins from two existing and one new OEM customer. The car manufacturers belong to 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 34 new car models to fulfill upcoming European legislation. The models to include Smart Eye's technology will start going into production in 2025 and be fully ramped up by 2026. Most of the 34 models are updates of existing production programs. After 2026 they will gradually be replaced with new vehicles launched on new platforms. The estimated revenue for the order is SEK 350 million, based on product life cycle volume projections.
"In terms of number of new car models, this is the biggest deal in the history of DMS - so far", said Martin Krantz, CEO and Founder of Smart Eye. "The date for when the European legislation kicks in is a hard stop. In 2026 we estimate the European market for DMS to be 18 million vehicles. This latest contract constitutes a large chunk of that volume. We have for some time indicated that big OEM procurements are settled and will be communicated. This is one of them."
Smart Eye has now received a total of 141 design wins from 17 OEMs. The combined estimated lifetime value from current design wins is now larger than 3,035 billion. Estimated value over the product lifecycle from possible additional design wins with the car manufacturers on existing platforms is now SEK 4,075 billion.
For more information:
Martin Krantz, CEO Smart Eye AB
Phone: +46 70-329 26 98
Gabi Zijderveld, CMO Smart Eye AB
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, 70% of the world's largest advertisers and 28% of the Fortune Global 500 companies.
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 2022-12-09 15:00 CET.
SOURCE: Smart Eye
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