Gauzy Ltd (NASDAQ:GAUZ), which provides light and vision control technology solutions, has agreed to fully replace traditional side mirrors with its advanced driver assistance system (ADAS) on the Capital District Transportation Authority (CDTA) of New York’s public buses, Investing.com has learned.
The deployment of Gauzy's Smart-Vision camera monitor system (CMS), which was presented at a special ceremony on October 3, marks a key phase in CDTA's multi-year program aimed at enhancing road safety.
The Smart-Vision CMS, marketed as Luminator Video Mirror in North America, is distributed exclusively by Luminator Technology Group for transit agencies.
The company is attributing market share expansion to the growing interest in ADAS from transportation officials in North America, Europe, Asia, and Australia, who are fast-tracking regulatory approvals for its installation in public buses and coaches.
"CDTA’s choice to replace side mirrors in its buses with our Smart-Vision CMS reflects the technology’s effectiveness, practicality and superior qualities over other mirrorless driver assistance systems," Eyal Peso, Co-Founder and CEO of Gauzy, said.
"With the global mass transit bus market expected to grow at a CAGR of 8.1% between 2023 and 2032 to more than $936 billion in value, we anticipate orders for the Smart-Vision system will continue growing at a steady pace."
"We believe that this presents a significant opportunity for us to solidify our sales pipeline and market share in commercial vehicle CMS/ADAS across four geographic regions.”
Gauzy now forecasts that its cumulative sales for commercial vehicle CMS/ADAS will exceed $100 million by the end of 2025.
Smart-Vision CMS is designed for both 40- and 60-feet long buses, eliminating the need for conventional mirrors by using aerodynamic cameras and interior displays that improve driver awareness and reduce the risk of collisions.