Autonomous trucks require obstacle detection capabilities in harsh weather to enable uninterrupted service throughout the day, regardless of the environmental conditions,” said Haim Siboni, CEO of Foresight. “In 2019, Foresight identified the commercial vehicle industry as a new market suitable for the Company's unique technology. In addition, the growing demand for vehicle safety and emerging government regulations are stimulating growth in the ADAS and autonomous market, requiring safety functions such as automotive emergency braking and forward collision avoidance/warning systems. Leading vehicle manufacturers are collaborating with technology companies to integrate services such as advanced sensors, artificial intelligence, sophisticated algorithms and analytics into the production of autonomous trucks. The QuadSight four-camera vision system provides highly accurate vision sensors that address the need for these vehicles to detect any obstacle and enable safe driving at all times in challenging weather.Īccording to a 2018 study by Allied Market Research, the global self-driving truck market size is expected to be valued at $1 billion USD in 2020 and is expected to reach a market size of $1.67 billion USD by 2025, registering a CAGR of 10.4% from 2020 to 2025. The addition of advanced driver-assistance systems (ADAS) and autonomous features and capabilities to autonomous trucks enables them to successfully operate without interruption during harsh weather and poor lighting conditions such as fog, heavy rain or snow. This first prototype sale to the autonomous truck market validates the need for Foresight’s technology within this market segment. The sale followed successful live technological demonstrations in Germany. (Nasdaq and TASE: FRSX), an innovator in automotive vision systems, announced today the sale of a prototype of its QuadSight ® four-camera vision system to a leading, multi-billion dollar European Tier One supplier of subsystems for rail and commercial vehicles.
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