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.