Cenkos note out14 Sep 2020 09:29
"
Comment: A relationship between Qualcomm and Seeing Machines was first announced on 9 January 2020, with the target to integrate DMS into high-end SnapdragonTM based infotainment platforms. Subsequently on 27 August 2020 Qualcomm announced a relationship with Veoneer to deliver scalable solutions for Advanced Driver Assistance Systems (ADAS), Collaborative and Autonomous (AD). It is therefore of little surprise (but also a positive indication of the speed the partners are moving) that the launch of an (embedded) e-DMS kit on the SnapdragonTMplatform will be for both infotainment and ADAS integrations. This will no doubt increase the number of potential customers and hence the market share that Seeing Machines can win from its DMS software through Qualcomm and Veoneer.
? After quietly advancing its DMS technology development roadmap over the last few years, Seeing Machines is now stepping up its marketing to the industry highlighting that it not only has the highest performance DMS at the lowest processing cost but also, unlike all other DMS suppliers, it is offering this solution to OEM customers in almost every possible configuration, integration and supply chain route to market.
As well as the embedded software solution, such as that announced today, it offers DMS on a standalone chip (Xilinx FPGA FOVIO chip where there are already several major customers) as well as licenses for ASIC integration (first MOU signed last week). We see the development of its strategy to offer its DMS solution in all ways to all customers as a particularly important development, and will no doubt enable it to win a significant share of this market. In this respect we note that the DMS software industry currently remains a duopoly (with Smart Eye) and with Seeing Machines conservatively targeting a 30% share (which is also the basis for the Cenkos
DCF valuation).
"