Smart Eye Wins 800 MSEK DMS Deal with Large North American OEM – Up to 53 Design Wins
GÖTEBORG, SE / ACCESSWIRE / December 15, 2022 / Smart Eye (STO:SEYE)(OTC PINK:SMTEF)(FRA:SE9) Smart Eye receives up to 53 new Driver Monitoring System (DMS) design wins from a new customer - a major North American car manufacturer. The estimated revenue of the order is SEK 800 million based on product life cycle projections.
Gothenburg, Sweden - December 15, 2022 - Smart Eye, the leading developer of DMS software to the automotive industry, has received an order with a global Tier 1 supplier, estimated at up to 53 design wins from a new OEM customer. The car manufacturer is a large North American OEM, with a global production footprint.
The new nomination means Smart Eye will deliver its AI-based driver monitoring system software to up to 53 new car models. One part of the volume is targeted towards fulfilling upcoming European legislation that makes DMS mandatory, starting in 2024 for new platform cars. In 2026, all European cars including legacy platforms are included. The largest part of the volume goes to the OEM's new platform for a so-called Software Defined Vehicle, which typically has few but very advanced in-car computers, intended for the markets of North America, Europe and China. The models that include Smart Eye's technology will start going into production in 2024 and continue well into the 2030's. The estimated revenue for the order is SEK 800 million, based on a seven-year product life cycle. The estimated value over the product life cycle of additional design wins on existing platforms has not been calculated for this OEM, since most cars are either legacy cars for Europe or transferring to a brand-new Software Defined Vehicle platform.
"During the year, when I repeatedly communicated that our market position is strong, this is what I meant", said Martin Krantz, CEO and Founder of Smart Eye. "This new order, which has been in the making for some time, means three things for us. Firstly, we solidify our position on the important European market, estimated to be 18 million vehicles in 2026. Secondly, it puts us in the lead in North America, expected to have the fastest growth following Europe. Thirdly, it further improves our position in China, where we are already in production with two OEMs and expect rapidly increasing business in the years to come. With this latest order, we can with confidence re-iterate our stated ambition to have a global market share of at least 40% long term."
Smart Eye has now received a total of up to 194 design wins from 18 OEMs. The combined estimated lifetime value from current design wins is now larger than SEK 3.835 billion. Estimated value over the product lifecycle from possible additional design wins with the car manufacturers on existing platforms is 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 2022-12-15 08:30 CET.
Smart Eye Wins 800 MSEK DMS Deal with Large North American OEM - Up to 53 Design Wins
SOURCE: Smart Eye
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