These 4 unknown companies are already conquering the market
Until recently, only one small number of companies The drivers were engaged in the production of surveillance cameras. At that time, they were supplying the automotive industry with thousands of units per year. Now the situation has changed and they are starting to happen orders of millions of them,
This jump is due to new regulations introduced in Europe. From next year, the technology will require a five-star safety rating in the European New Car Assessment Scheme. You From 2024, the European Commission will make it mandatory in all new cars,
Driver-facing camera systems are designed to detect signs of driver inattention or drowsiness and can even automatically slow the car, says Maite Bejera, industry analyst at ABI Research.
In a report on the impact of the new rules, Bezerra predicted that deliveries of driver monitoring systems will increase by 487.5% between this year and 2027, which would mean approx. $954 million in revenue,
Forced to install technology that could add $200 to the cost of a vehicle, automakers are looking for other use cases to capitalize on their investment.
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Facial recognition can allow a car to recognize its driver and adjust seat position, infotainment system settings, and more. Can help to know the position of the driver’s head and to follow his gaze Most Effective Augmented Reality AppAccording to Bejera, in the future it could also help power an artificial intelligence-based personal assistant.
In addition, Bejera reported that between 2022 and 2025 deliveries of vehicles equipped with driver monitoring systems will increase from 8 million to 30 million. In 2027, they could reach 47 million and represent more than half of global sales.
Europe will represent an important part of it, as does China, which requires this technology in many commercial vehicles. In the United States, the National Highway Traffic Safety Administration plans to add the system to its safety rating system by 2026.
All this represents a big boom in the region for suppliers who offer these systems. “The opportunity for them is huge,” Bejera says. And, he adds, as more players want to get involved, these four established companies are ready to capitalize.
to place: Canberra, Australia
Seeing Machines, developed in 2000 by the Australian National University, provides hardware and software to monitor drivers, pilots, air traffic controllers and more. It works with transport companies such as Daimler, GM, Magna, Emirates and Qantas.
The company launched its Management Guardian For commercial trucks and buses in 2016. The company says the driver monitoring system has since traveled more than 1 billion kilometers and detected more than 3.6 million “incidents related to driver fatigue and distraction”.
Seeing Machines claims their technology is “scientifically proven to reduce the incidence of fatigue by over 90%”. According to Crunchbase, the company raised $5.7 million in funding. It has a partnership with chipmaker Qualcomm.
to place: Tel Aviv, Israel
The Israeli company was founded as iSight Technologies and initially focused on computer vision. In 2020, it updated its name to reflect its expansion into neural networks: Sepia. The term refers to the occipital lobe of the brain, which converts visual information into understanding the environment.
The company claims that Their products are now on millions of devices And he has ties to five automakers. They recently announced that they are working with chipmakers Ambarella and Mobileye and that Its driver monitoring system will be installed in a new electric SUV Manufactured by Chinese car manufacturer Cheri.
Sepia is led by Yehuda Holtzmann, who took over in May. Previously, Holtzman was CEO of On Track Innovations, a proximity communications and cashless payments company. According to Crunchbase, the company has raised $45.9 million in four funding rounds.
to place: Municipality of Dendrid, Sweden
Swedish eye-tracking company Tobii raised $121.8 million in five rounds of funding before its IPO in 2016. This health, gaming and education as well as the automotive sector.
In August 2021, Tobii announced the acquisition of Fascia, whose biometric signal analysis software helped it launch a driver tracking system.
Tobii CEO Anand Srivatsa took over in December after serving as a divisional general manager of another Tobii unit. An Intel veteran, Shreevats holds a master’s degree in electrical engineering from Stanford.
to place: Netanya, Israel
Cisco’s spin-off Jungo went public in July 2021. It works with automakers, major industry suppliers, fleet operators and aftermarket manufacturers. According to Crunchbase, it has raised $17.5 million in five funding rounds, the most recent in 2006. Its investors include Cisco and the Intel Communications Fund.
Jungo claims that its VuDrive system meets the requirements set by European security authorities. The product is designed to track the driver’s head position and gaze Seeking distraction or drowsiness. The company says fleet operators can use it to “rate” their drivers. The company is headed by Cisco veteran Oper Suhami.