Ouster and Hexagon Launch New Advanced Lidar Security Solution for Multi-Billion Dollar Physical Security Market
Hexagon company, Tacticaware, has developed an exclusive version of its Accur8vision security solution with Ouster for wide adoption in public and private infrastructures
SAN FRANCISCO, March 23, 2022–(BUSINESS WIRE)–Ouster, Inc. (NYSE: OUST) (“Ouster” or the “Company”) and Tacticaware, a Hexagon (Nasdaq Stockholm: HEXA B) company that manufactures and produces the Accur8vision volumetric security system, announced today the launch of their common security solution: Ouster x Accur8vision. The solution combines Ouster’s 3D digital lidar technology with Hexagon’s industry-leading security software to target the multi-billion dollar physical security market.
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Ouster x Accur8vision Security Solution (Graphic: Business Wire)
The Ouster x Accur8vision solution is capable of monitoring and protecting a wide variety of environments, including critical infrastructure such as airports, commercial buildings and residential properties. The technologies in place, such as cameras and radars, are not sufficient in complex environments, such as a crowded environment, or when visibility is reduced. Ouster x Accur8vision is designed to enhance existing security systems by providing an additional layer of perception that can be used to proactively detect potential threats.
The Ouster x Accur8vision security solution helps operators:
Reduce false alarms with more accurate, volume-based intruder detection and tracking
Monitor any custom-sized area with a single detection view across multiple lidar sensors
Set advanced security controls with unlimited 3D zones and custom priority alarms per zone
Integrates with existing pan, zoom, and tilt (PTZ) cameras for efficient tracking and recording
Easily configure a security system without prior knowledge of lidar
“Our solution combines Ouster’s reliable, high-resolution digital lidar technology with Hexagon’s industry-leading security expertise,” said Martin Vojtek, president and CEO of Tacticaware. “Together, we are introducing a revolutionary security product designed to solve the biggest and most costly problem for security operators today: false alarms. Our goal is to help customers improve the accuracy of their systems. existing security systems while reducing operational costs.”
The global physical security market is expected to reach approximately $153 billion by 2023, driven in part by an increase in intrusions, terrorism, and other threats.1. Within private organisations, there is a growing interest in leveraging physical security data in other parts of the business, for example to understand occupancy management and people counting. As the demand for security solutions increases, government data privacy regulations, such as the US Facial Recognition Act and the moratorium on biometric technology, have limited the use of biometric surveillance, such as systems camera-based security. Lidar-based security solutions are uniquely positioned to fill this gap.
“A high-resolution lidar security system is capable of transforming the security market by providing the precise and comprehensive detection required without infringing on the privacy of citizens,” said Itai Dadon, Vice President of Smart Infrastructure at Ouster. “Performance and reliability are essential for the security market. The versatility of our solution makes it an optimal choice for any security operator, from government to corporate campuses or even private homes. Ouster’s entry into the security market, further diversifying its revenue streams and accelerating the adoption of digital lidar.”
Hexagon is a world leader in digital reality solutions that combine sensors, software and autonomous technologies. Hexagon uses data to improve efficiency, productivity, quality and safety in industrial, manufacturing, infrastructure, public sector and mobility applications. Its technologies are shaping production and people-related ecosystems to become increasingly connected and autonomous, ensuring a scalable and sustainable future. Tacticaware, a subsidiary of Hexagon, is the manufacturer and producer of the world-renowned volumetric security system, Accur8vision. Hexagon (Nasdaq Stockholm: HEXA B) has approximately 22,000 employees in 50 countries and net sales of approximately €4.3 billion. Learn more about hexagon.com and follow @HexagonAB.
Ouster (NYSE:OUST) is building a safer, more sustainable future with its high-resolution digital lidar sensors for the automotive, industrial, smart infrastructure and robotics sectors. Ouster’s sensors offer an excellent combination of price and performance with the flexibility to cover hundreds of use cases and enable breakthrough autonomy across industries. With a global team and high-volume manufacturing, Ouster supports approximately 600 customers in over 50 countries. Ouster is headquartered in San Francisco, California, with offices in the Americas, Europe, Asia Pacific and the Middle East. For more information, visit www.ouster.comor join us on Twitter Where LinkedIn.
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding Ouster’s financial outlook. , its positioning on the market and the expected results. Forward-looking statements give Ouster’s current expectations and projections regarding its financial condition, competitive position, results of operations, plans, objectives, future performance and growth, potential revenue opportunities, market penetration, market, the success and adoption of Ouster x Accur8vision, its ability to reduce the number of false alarms, its unparalleled accuracy and the ability of this common security solution to meet ever-changing legal standards in various jurisdictions. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”. , “should”, “may have”, “likely”, and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All statements forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expected by us, including: Ouster’s limited operating history and loss history; trading power and the product standards of its customers; fluctuations in its operating results; cancellation or postponement of contracts or unsuccessful executions; the adoption of its products and the growth of the lidar market in general; its ability to develop its commercial organization and marketing; the substantial research and development costs required to develop and market new products; the competitive environment in which it operates; selection of our products to be included in target markets; its future capital requirements; its ability to use tax attributes; its dependence on major third-party vendors, particularly Benchmark Electronics, Inc., and manufacturers; the ability to maintain inventory and the risk of inventory impairment; inaccurate forecasts of market growth; its ability to manage growth; the creditworthiness of our customers; risks related to acquisitions; risks related to international operations; the risks of problems or failures to deliver the products; costs associated with product warranties; its ability to maintain its competitive advantage and maintain competitive average selling prices or high sales volumes or reduce product costs; conditions in its customers’ industries; its ability to recruit and retain key personnel; its use of professional employers’ organisations; its ability to protect and enforce its intellectual property rights in a timely and adequate manner; its ability to respond effectively to changing regulations and standards; risks associated with operating as a public company; risks related to the COVID-19 pandemic; and other important factors discussed in the Company’s final prospectus and proxy statement, dated February 12, 2021, filed with the Securities and Exchange Commission (the “SEC”), as updated by the factors disclosed in the section titled “Risk Factors” in its final prospectus filed with the SEC and dated August 19, 2021 and on Form 10-K filed with the SEC on February 28, 2022. These forward-looking statements represent estimates and beliefs of management as of the date of this press release. Although Ouster may elect to update these forward-looking statements at some time in the future, except as required by law, it disclaims any obligation to do so, even if subsequent events change its views.
1 Allied Market Research, Physical Security Market Outlook-2023
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