Smart Eye Announces 4 New Breakthrough Design Wins for Automotive Interior Sensing AI

GÖTEBORG, SWEDEN / ACCESSWIRE / February 29, 2024 / Smart Eye (STO:SEYE)(OTC PINK:SMTEF)(FRA:SE9) This marks the first time the company will deliver its combined Driver Monitoring System (DMS) and Cabin Monitoring System (CMS) technology to new car models by a major vehicle manufacturer. The estimated revenue for the order is SEK 175 million based on estimated product life cycle projections.

Gothenburg, Sweden - February 29, 2024 -  Smart Eye, the leading developer of DMS software for the automotive industry, today announced a breakthrough order from a major Korean car manufacturer. For the first time, Smart Eye will deliver features for both driver monitoring and cabin monitoring, extending its software to the entire vehicle cabin and increasing the technology value in each car.

The combination of driver monitoring and cabin monitoring software, known as automotive interior sensing, is the next step in the evolution of in-cabin sensing technologies. By extending its world leading DMS technology to the entire cabin and all passengers, Smart Eye's Automotive Interior Sensing AI enables car manufacturers to offer new features for improved safety and comfort in their vehicles. Smart Eye's interior sensing technology is incorporating key components from Affectiva, pioneers in Emotion AI and part of the Smart Eye group since 2021.

The customer, a major Korean car manufacturer, has already sourced Smart Eye's DMS technology for several of its previous car models. The four new car models, including Smart Eye's Automotive Interior Sensing AI, will go into production between the end of 2025 and the first half of 2026. The estimated revenue for the order is SEK 175 million, based on product life cycle volume projections. The estimated value of possible additional design wins on the same platform amounts to SEK 650 million over the product lifecycle.

"Industry demand for interior sensing technology is growing fast, and this deal puts Smart Eye in pole position in this new market", said Martin Krantz, CEO and Founder of Smart Eye. "Already in 2021, Smart Eye's acquisition of Affectiva and the merger of our two leading technologies positioned us as a leading developer of advanced interior sensing AI. This new order, with start of production in 2025, means that some of the first car models on the road with cabin monitoring will run on combined Smart Eye and Affectiva software."