#DriverDistraction Prevention #Technology- #Stocks to watch (NASDAQ: $SVRE)
(NASDAQ: $AAPL) (NASDAQ: $GOOG) (ASX: $ACE.AX) @SaverOne_
@Apple @Google @acusensus
Vancouver,
Kelowna, Delta, BC – August 4, 2023 - Investorideas.com, a leading
investor news resource covering tech and security stocks issues a report on the
evolving road safety market as technology emerges to save lives, featuring
SaverOne 2014 Ltd. (Nasdaq: SVRE) (TASE: SVRE), a technology
company specializing in transportation safety solutions.
Read this article,
featuring SVRE in full at https://www.investorideas.com/news/2023/technology/08041Driver-Distraction-Prevention.asp
According to AlliedMarketResearch, the global road safety market was valued at $4.7 billion in 2021 and is
projected to reach $14.8 billion by 2031, growing at a CAGR of 12.5% from 2022
to 2031.
Existing and emerging technologies have great
potential to reduce distracted driving, which contributes to thousands of
deaths each year in the United States, according to a new National
Distracted Driving Coalition (NDDC) report.
“Many people think of technology, especially
smartphones and complicated infotainment screens as a major cause of distracted
driving,” says Dr. Pnina Gershon, a researcher at Massachusetts Institute of
Technology and co-author of the new report. “While that’s true, other
technologies can potentially help keep people focused on driving or help them
avoid a crash if they are distracted.”
SaverOne
2014 Ltd. (Nasdaq: SVRE) (TASE: SVRE), a technology
company specializing in transportation safety solutions recently announced that July 2023 was
a record month for new installations of its Driver Distraction Prevention
Solution (DDPS). During July, the Company installed its innovative safety
solution on 299 new vehicles and ended the month with an install-base of
approximately 2,700 in the Israeli market, reflecting growing and broad
adoption of SaverOne's DDPS system.
Ori
Gilboa, CEO of SaverOne commented, "This record level of installations in
the past month, demonstrates that SaverOne continues to progress in the right
direction. Furthermore, based on our open orders, we expect to continue growing
our install-base for the foreseeable future. Another positive sign is that
while our installations are currently predominantly in Israel, a growing
portion of our customers are local subsidiaries of global companies, and we
intend to leverage them to access their global headquarters and fleet, as part
of our expansion into international markets."
Mr.
Gilboa continued, "I am thrilled that SaverOne is now firmly in the early
revenue growth phase in its corporate lifecycle. We look forward to continuing
to broaden our customer base and accelerate the growth of our install-base in
the months and years ahead."
SaverOne's
system is installed in vehicles to provide a solution to the problem of driver
distraction, as a result of drivers using distracting applications on the
mobile phone while driving, in a way that endangers their safety and the safety
of their passengers. This phenomenon is considered one of the main causes of
road accidents in the world. According to the US National Highway Traffic
Safety Administration, the annual cost of road accidents just in the United
States, stands at about $870 billion each year, excluding the costs of serious
injury or death, with a quarter of those accidents estimated to be related to
the use of the mobile phones while driving. SaverOne's technology specifically
recognizes the driver area in the vehicle and prevents the driver from
accessing distracting applications such as messaging, while allowing others
(e.g. navigation), without user intervention or consent, creating a safer
driving environment.
SaverOne's
primary target markets include commercial and private vehicle fleets that are
interested in reducing potential damages and significant cost, vehicle
manufacturers that are interested in integrating safety solutions to their
vehicles, and insurance and leasing companies. SaverOne initially addresses car
fleets with focus on the Israeli, European and US markets, as well as other
markets around the world. SaverOne believes that ultimately increased focus on
monitoring and prevention of cellular distraction systems in vehicles, in
particular driven by upcoming expected EU regulation, will likely have a
dramatic positive impact on the demand for its systems in the future.
The Company's strategy is to provide
its technology for installation to customers in the aftermarket as well as
address OEM vehicle manufacturers, to install the Company's protection
technologies during the vehicle manufacturing process.
Based on it’s core Technology
SaverOne is
also developing an ADAS Sensor system for early location and direction
detection under all visibility conditions of vulnerable road users (VRU)
through their cellphone footprint.
According
to a July report from auto safety
group IIHS.org, “Even without our prodding, tech companies have made big
strides. Apple ( NASDAQ: AAPL) and Google ( NASDAQ: GOOG) deserve credit
for making apps that block calls and notifications while the user is driving
part of their operating systems — though the Android system does not prompt the
user about turning it on during the initial setup procedure. Other firms and app
developers are working on improving driver monitoring, incentivizing safe
driving and other promising ideas.”
“Recent
updates to the ‘do not disturb’ feature may make it more palatable to users.
The latest versions allow ‘breakthrough’ alerts for urgent messages or
designated contacts and let users select music, get directions and perform
basic web searches using voice commands. For people with newer vehicles, Apple
CarPlay and Android Auto are designed to integrate the phone with the
in-vehicle infotainment system — but also to restrict overly complex
interactions with the device. Google Assistant’s driving mode provides a
similar interface for drivers of older vehicles using a dashboard mount for
their Android phone.”
Australian
listed Acusensus (ACE.AX) has designed,
developed, patented and commercialized technology focusing on the detection of
distracted drivers who are illegally using mobile phones while driving, and has
expanded that technology offering to further address speed (point and average),
seatbelt enforcement and registration/number plate review.
In
February, Acusensus announced opening its US
headquarters in Las Vegas, Nevada. Regarding this decision, founder and
Managing Director of Acusensus, Alexander Jannink said that Las Vegas provides
a well-connected hub to be near customers to ensure accessibility to road
authorities, whom focus on road safety through implementing technological
solutions.
“North
America has a need and appetite for our road safety technologies. The Federal
Highway Administration in the US was granted $5 billion, with an additional
$15.6 billion allocated to the States’ Highway Safety Improvement Program,”
says Jannink. “We have spent time on the ground in the US to design our
solutions to satisfy the unique needs of the market in the USA, emphasising
policing over automation. This base further ensures we will make our equipment
for America, in America.”
According to the National Highway Traffic Safety
Administration’s (NHTSA) latest distracted driving report, in 2020, 3,142
people were killed and 324,652 people were injured in distraction-affected
motor vehicle crashes.
So, for future driver safety, the race is on for
companies to create technology to balance and manage the human error element in
using existing technology. The question is, where will this end?
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