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Seeing Machines to develop all occupant monitoring system for vehicles

The move is seen as a significant opportunity for the company

Seeing Machines Ltd. - Seeing Machines to develop all occupant monitoring system for vehicles

Seeing Machines Ltd (LON:SEE) has told investors it is officially expanding its driver monitoring technology to become an overall vehicle interior occupant monitoring system (OMS).

It will allow the company’s technology – which conducts head, eye, and face tracking using cameras – to apply not only to the driver but concurrently also passengers in vehicles.

The expanded product will be available for automotive production programs starting in 2023, the company said.

READ: Seeing Machines gathers 5bn kilometres worth of  driving data

Becoming an OMS will open a market opportunity worth an estimated A$1.5bn, with the incremental revenue opportunity estimated at around US$350mln, it added.

The company noted that as an OMS the technology will enable more reliable and cost-effective passive safety systems, including the use of AI automation in interiors.

It also noted that the current DMS system will be able to offer an array of additional high-value interior and occupant sensing features with little increase in the camera, illumination, or embedded processing cost.

Nick DiFiore, SVP for Seeing Machines’ automotive division, described it as a very important step in the company’s vision which is to truly enable automobiles to see, understand, secure, and assist its occupants.

"We expect our automotive Tier 1 and OEM customers to be excited by the reality of a non-compromised DMS ready for any Euro NCAP eventuality, with the promise of extending safety and convenience features to vehicle passengers without inflating the overall system cost,” DiFiore said in a statement. 

Quick facts: Seeing Machines Ltd.

Price: 5.401 GBX

AIM:SEE
Market: AIM
Market Cap: £201.85 m
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