- Advanced Driver Assistance Systems (ADAS) market to reach $143 billion by 2025
- Successful test of Eye-Net V2X (vehicle to everything) cellular-based accident prevention system
- Analyst coverage recently initiated
What could be smarter than playing it safe, particularly when on the road as a driver? Driving defensively certainly helps, but, more often than expected, the unexpected happens. If only you could have had some inkling of what was coming. Well perhaps you can. Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) (TASE: FRSX) is developing unique safety solutions for the automotive industry that provide real-time information to prevent accidents. Combining stereo/quad-camera vision with three-dimensional (3D) video analysis, advanced algorithms and sensor fusion, FRSX’s safety systems will make every car a safer car. Already incorporated into two flagship products, Eyes-On and QuadSight, the company recently completed the successful trial of a third, Eye-Net. FRSX’s groundbreaking work is now garnering attention, with JGR Capital, an independent equity research firm, announcing initiation of coverage (http://ibn.fm/Cqzni).
Just as they have enhanced our mobile phones, rapidly developing advances in information technology are making cars smarter. Smart cars save on fuel costs, provide more creature comforts and help us navigate, but none of that matters if there is danger in driving, which is why most ADAS are putting safety first. Driven in part by government safety regulations and higher consumer expectations, the global ADAS market is projected to ‘reach $143 billion by 2025’, according to a report cited by Body Shop Business (http://ibn.fm/GATHS). With its potentially lifesaving products, FRSX is likely to be part of that developing market.
Presently, FRSX is able to offer three accident prevention products: Eyes-On, QuadSight and Eye-Net. The Eyes-On ADAS System is a stereo vision ADAS system supplemented by advanced algorithms that perform accurate depth analysis and detect all obstacles. The system scans the road for vehicles, animals, cyclists, pedestrians and other possible obstacles, providing accurate and reliable object detection while ensuring the lowest rates of false alerts. It detects much smaller objects than comparable systems on the market and has the capability to detect at long-range and at very high speeds.
The QuadSight System is a four-camera multi-spectral vision system targeting the semi-autonomous and autonomous vehicle market. It employs two sets of stereoscopic infrared and visible-light cameras, enabling highly accurate and reliable obstacle detection. The QuadSight System aims to achieve near 100 percent obstacle detection with the lowest rates of false alerts, under all weather and lighting conditions, including complete darkness, rain, haze, fog and glare. In contrast to other technologies, QuadSight is a passive sensor that does not emit any energy during operation. As a result, the QuadSight system does not create interference with other systems and is hazard-free.
The Eye-Net V2X System is a V2X (vehicle to everything) cellular-based accident prevention system designed to provide real-time pre-collision alerts to pedestrians and vehicles by using smartphones linked to existing cellular networks. The system is meant to identify an oncoming collision before the parties involved are able to see each other, and thus provide an alert that allows the parties to stop in a safe and timely manner. Put to the test in the Israeli city of Ashdod, Eye-Net met all of the pre-defined objectives and indicators for its real-time use in a manner that enabled all road users to brake safely and on time (http://ibn.fm/bi8lJ).
Demand for ADAS is expected to increase over the next decade, fueled largely by regulatory and consumer interest in safety applications that protect drivers and reduce accidents. Both the European Union and the United States are mandating that vehicles be equipped with autonomous emergency-braking systems and forward-collision warning systems by 2020, and car buyers are becoming even more interested in ADAS applications that promote comfort and economy, such as those that assist with parking or monitoring blind spots. As a result, the global market is projected to experience a CAGR of at least 16 percent over the next five years.
For more information, visit the company’s website at www.ForesightAuto.com
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