FROST & SULLIVAN HONORS STRADVISION WITH THE PRESTIGIOUS GLOBAL TECHNOLOGY INNOVATION LEADERSHIP AWARD
SEOUL, South Korea, March 27, 2023 /PRNewswire/ — Frost & Sullivan has introduced that STRADVISION, an automotive industry pioneer in deep studying-dependent vision perception technological innovation, has gained the Frost & Sullivan 2022 World wide Technologies Innovation Leadership Award in the innovative driver help program (ADAS) and automatic driving (Advert) notion application sector.
For the duration of the demanding analytical award approach, Frost & Sullivan evaluated multiple nominees in just about every group just before identifying the ultimate award receiver. The approach involves a thorough evaluation of greatest techniques requirements across two dimensions for each and every nominated business. The agency discovered that STRADVISION excels in a lot of requirements in the ADAS and Ad perception room, including technological innovation leverage and business influence.
“STRADVISION’s commitment to innovation and creativity permits it to produce optimized options that meet up with shopper demands and market calls for,” stated Deexeta Mohankumar, Analysis Analyst for Frost & Sullivan. “In addition, its core SVNet technologies permits it to remain in advance of the level of competition by adopting state-of-the-art understanding algorithms that supply superior efficiency and modularity. Demonstrating functionality success with SoC-unique software package architecture, STRADVISION has distinguished alone as a technology provider that can run deep studying-based vision notion functions on main SoC platforms. In distinction, most competitors even now count on ML-dependent answers, which require substantial knowledge sets, time, and resources to strengthen accuracy.”
“We’re delighted to see that our marketplace-leading strategy to innovation is becoming broadly recognized by these kinds of prestigious institutions as Frost & Sullivan,” STRADVISION United states of america CEO Sunny Lee reported. “We will carry on to force for an integrated future for eyesight and artificial intelligence technology in consumers’ each day lives by offering our shoppers with finest-in-class computer software for safer assisted and autonomous driving.”
Frost & Sullivan’s analysis on the world wide autonomous passenger car market in 2022 suggests that the complete addressable marketplace for L1 to L4 autonomous motor vehicles will attain 74.54 million units by 2028, with 59% of the vehicles equipped with an L2 and over ADAS/Advert application stack. This offers a wide possibility for ADAS/Advert notion know-how builders these types of as STRADVISION. The ADAS/Advert options dependent on STRADVISION’s SVNet technological know-how are accessible in much more than 50 vehicle products of 13 OEMs, accounting for over 550,000 client vehicles in world-wide markets.
Frost & Sullivan’s total summary on the award and their assortment of STRADVISION can be observed In this article.
The Frost & Sullivan recognition arrived immediately after a chaotic 12 months for STRADVISION in 2022, like sizeable workforce development of 69.2% YoY for the organization, each in North The us and globally. The company attained Series C funding of $88 million ($129 million cumulative funding to date), and its recent rebranding and progressed company vision will increase the implementation of its modern computer system eyesight software to industries beyond automotive. Further 2022 and early 2023 milestones involve SVNet software implementation for Texas Instruments’ TDA4 automotive processor, the effective completion of proof-of-strategy (PoC) and production assignments for far more mass production with world-wide OEMs and Tier-1 firms, and STRADVISION’s SVNet software program remaining when once again picked as the ‘Best-in-Course Software program for Notion Systems’ through the 2022 AutoSens Awards in Brussels, Belgium.
Launched in 2014, STRADVISION is an automotive marketplace pioneer in synthetic intelligence-based mostly vision notion technology for ADAS. The enterprise is accelerating the advent of fully autonomous autos by producing ADAS options readily available at a portion of the market charge in comparison with competition. STRADVISION’s SVNet is getting deployed on a variety of motor vehicle styles in partnership with OEMs can powers ADAS and autonomous cars around the world and is serviced by around 300 workers in Seoul, San Jose, Detroit, Tokyo, Shanghai, Friedrichshafen, and Dusseldorf. STRADVISION has been honored with Frost & Sullivan’s 2022 World wide Know-how Innovation Management Award, the Gold Award at the 2021 and 2022 AutoSens Awards for Best-in-Class Application for Notion Techniques, and the 2020 Autonomous Car Technological know-how ACES Award in Autonomy (program class). In addition, STRADVISION’s software package is qualified to the ISO 9001:2015 for Quality Administration Devices and ISO 26262 for Automotive Functional Security.