Technology provider Elsight (ASX: ELS) has released its latest consumer product, a “360-degree surround vision video transmission” solution able to simulate different camera angles when installed in cars or other vehicles.
Its proprietary Omnisight platform integrates multiple high-resolution night-sensitive cameras placed strategically on all sides of any vehicle, with Elsight’s algorithm able to create a composite real-time video feed for the driver to utilise.
Elsight says that this data is then used to simulate a birds-eye view of the vehicle from the cameras already installed in the vehicle.
According to Elsight, its Omnisight platform is fully compatible with modern multimedia systems built into vehicles and is able to provide additional functionality through existing hardware already installed in the vehicle.
The main purpose of Omnisight is to improve car safety by creating far greater visibility for drivers and eliminating blind spots.
Full scale compatibility
Omnisight provides continuous local recording and is also able to transmit video, audio and any integrated sensor data to any location securely via 3G/4G/LTE cellular networks.
“Elsight has a strong tradition of delivering best of breed security solutions with high bandwidth and unbeatable security with real-time transmission capabilities,” said Nir Gabay, CEO of Elsight.
“As we move deeper into the testing of autonomous vehicles, Advanced Driver Assistant Systems (ADAS), and vehicle aftermarket space, our Omnisight suite completes our product offering in the space while following our strategy of delivering unique missing capabilities to the vehicle space. As a company, we are confident in our ability to forge strategic partnerships with world leading players, to integrate our offering into their existing platforms and thereby piggyback on their existing and future sales.”
Elsights expects to see “tangible revenues” in 2018 and 2019 following its successful IPO in June of last year.
Importantly for its marketability and compatibility with existing car manufacturing standards, Elsight says its Omnisight suite of products are predesigned to be compatible for simple integration into Advanced Driver Assistant Systems which allow for a much wider range of features and a common interface across several car manufacturers.
As part of a continuous development process, Elsight is also planning to adapt its Omnisight platform to fit buses, trucks and heavy equipment trucks used in mining and other special applications in order to make the solution available to a wider addressable audience.
Based on customer discussions so far, Elsight expects to see sales “immediately”, and has begun “promising engagements with large Fleet Management (FMS) companies in the US and Israel.”
According to a market update, Elsight expects to announce at least one highly strategic and promising integration deal with a “Tier-One player in the autonomous vehicle and car aftermarket space” during this first quarter of 2018.
As result, Elsight is forecasting significant incomes from its Omnisight product line, with early deals in the second half of this year forecast to be around US$1million and expects significant revenue growth in 2019 and beyond.