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Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) (TASE: FRSX) Products Envision World of Reduced Traffic Accidents

  • Detection systems provide drivers with safety features that cut through all weather and lighting conditions
  • Foresight’s trademark QuadSight system utilizes stereo vision technology, coupled with infrared and visible light cameras, to detect objects under all weather and lighting conditions
  • Additional products are Eyes-On, an advanced ADAS system, and Eye-Net, a cellular-based accident prevention solution
  • ADAS market forecast: $79 billion by 2020 amid automaker demand for safety systems

“Driverless” autonomous and semi-autonomous vehicles are becoming more commonplace despite societal concerns about the risks of not having someone in control as a car speeds along. Forward-facing cameras in many of the latest models of legacy automotive brands allow vehicles to “see” where lane markings are and assess the behavior of other vehicles on the road, giving consumers a growing degree of confidence in their safety, and some companies are taking the capabilities of Advanced Driver Assistance Systems (ADAS) technologies to next-level applications, such as the recently debuted QuadSight system that Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) (TASE: FRSX) has developed to detect roadway objects under all weather and lighting conditions.

Basic ADAS systems rely on mono visible light cameras that detect movement, but a variety of companies are introducing more complex systems that may incorporate stereo vision, radar, lidar and infrared sensors. QuadSight is driven by advanced and proven image processing algorithms, utilizing a four-camera set up that includes two sets of stereoscopic infrared and visible light cameras, enabling highly accurate and reliable obstacle detection, even when weather conditions make visibility poor for drivers.

“Vision is the foundation of passenger safety, and vision perfection under all weather and lighting conditions is clearly the breakthrough that vehicle makers need to build consumer confidence in order to accelerate autonomous vehicle adoption,” CEO Haim Siboni stated in a January news release announcing the company’s entry at the tech industry’s annual CES show in Las Vegas (http://nnw.fm/O2tEs).

Foresight Autonomous Holdings is building on the demo version it produced, creating a prototype for pilot projects that will take place on public roads, and the company expects to see the system finished and commercialized during the second half of next year. An autonomous vehicle built on sound quality principles has the potential to improve traffic safety, virtually eliminating the likelihood of texting-while-driving fatalities, for example, or crashes that occur while someone is reaching for an item.

Electronic Design magazine noted that Foresight’s QuadSight system can detect details better than the human eye by using a passive camera system that processes visual input rather than relying on signal response from lidar and radar systems (http://nnw.fm/ym4Us). The company has developed three main products; in addition to QuadSight’s visual perceptiveness, Foresight developed the Eyes-On system, a unique stereo vision Advanced Driver Assistance System (ADAS) using advanced algorithms for accurate depth analysis and obstacle detection, and the Eye-Net system, a cellular-based accident prevention solution designed to provide real-time pre-collision alerts to pedestrians and vehicles that are not in direct line-of-sight and not covered by other alerting systems.

The Eye-Net solution is deployed on smartphones and cloud-based servers which rely on existing cellular networks, eliminating the need for designated hardware. It was developed for use in both urban environments and high-speed highway scenarios. In early May, Foresight announced a merger agreement that will spin Eye-Net off into a new wholly-owned subsidiary and then transfer 100 percent of its subsidiary’s share capital to Tamda, Ltd. (TASE: TMDA) in exchange for a nearly 75 percent stake in Tamda’s share capital.

The company has further demonstrated its commitment to traffic safety by investing in RailVision — a company that develops advanced vision systems to manage safety and maintenance issues on railways. RailVision has completed 13 tests of its systems in Israel, where Foresight is based, and throughout Europe.

Infoholic Research has forecast that the autonomous vehicle market will reach $126.8 billion worldwide by 2027 (http://nnw.fm/nb3jI), and Mordor Intelligence foresees a $79 billion market for ADAS alone by 2020 with a CAGR of 28 percent as a result of current demand for new driver assistance systems (http://nnw.fm/vMQk2).

For more information, visit the company’s website at www.ForesightAuto.com

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