- LiDARs have been one of key enablers for autonomous vehicle sector, but this unique technology offers use cases beyond automotive industry
- Consumer Electronics Show, one of the world’s most influential tech events, demonstrates that LiDAR is growing within non-automotive landscape, including smart city/infrastructure and security
- Cepton set to benefit as the Company has already established its presence in non-automotive, delivering LiDAR systems for smart cities, spaces, and industrial applications around the globe
Cepton (NASDAQ: CPTN), a Silicon Valley leader in innovative, high-performance LiDAR solutions, appears well-positioned to benefit as the non-automotive applications of the LiDAR technology grow. LiDAR technology seems to be on its path to move away from the realm of sci-fi-like promises toward real applications and commercialization. While the autonomous vehicle sector strives to make strides in terms of a safe and sustainable driving experience, for which LiDARs are one of the key enablers, the question remains as to what the future holds for this technology beyond the automotive sector?
If the latest Consumer Electronics Show (“CES”) is anything to go by – and it should be, as the event prides itself on being the most influential tech happening in the world – LiDAR has grown in importance not only for the automotive sector but also for non-automotive applications. The latter includes smart city/infrastructure and security, which are becoming increasingly important for LiDAR producers. These applications require top-notch 3D image processing and actionable perception software, where LiDARs can shine (https://ibn.fm/BblKI).
As a pioneer in the LiDAR space, Cepton has already been riding the rising non-automotive wave, collaborating with global partners to transform transportation infrastructure, public venues, and large commercial facilities using innovative LiDAR solutions. For example, in 2020, the Company partnered with The Indoor Lab in a pilot project at an Orlando International Airport terminal. The aim of the project was to deliver anonymous footfall tracking through a LiDAR-based crowd analytics solution to assist travelers in avoiding crowded areas and maintenance crews in targeted cleaning (https://ibn.fm/dPcPB). In addition, last year, Cepton joined the Qualcomm Smart Cities Accelerator Program in a bid to advance the future of smart infrastructure with their LiDAR systems. And most recently, Cepton engaged in developing a LiDAR-based vehicle detection system to help build city-wide smart transportation infrastructure in South Africa’s Cape Town which will provide authorities with analytics designed to improve traffic flow and safety for drivers and pedestrians (https://ibn.fm/UrXWc).
With a product portfolio diversified across both automotive and non-automotive spaces, Cepton seems to be well-positioned to leverage a variety of intelligent sensing applications in markets outside of automotive. As the Company continues to employ its proprietary solutions designed to provide accurate, real-time, and anonymized 3D perception, it appears poised to make its footprint in the global landscape to transform smart cities, spaces, and industrial applications.
For more information, visit the company’s website at www.Cepton.com.
NOTE TO INVESTORS: The latest news and updates relating to CPTN are available in the company’s newsroom at https://ibn.fm/CPTN
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