Ambarella, Inc. (AMBA - Free Report) recently announced that it is collaborating with Longhorn Auto Co., Ltd. to develop an advanced automatic parking platform. It will be based on Ambarella's CV22AQ CVflow computer vision system-on-chip (SoC).
The platform will boast capabilities like superior image signal processing, powerful AI computing performance and ultra-low power consumption associated with SoC.
The amalgamation of Ambarella’s SoC and Longhorn’s production-proven ultrasonic sensors and other technologies and algorithms will help the platform achieve high precision image recognition, free space detection, automatic emergency braking, obstacle detection and map construction.
The joint venture follows Ambarella’s partnership with Chinese automotive supplier, Shanghai OFilm, to develop an automated valet parking hardware platform.
The first platform of this sort was jointly developed by Daimler’s (DDAIF - Free Report) Mercedez- Benz and Bosch, which developed an AVP system in 2017, making them the first companies to come up with the system.
Per Allied Market Research, Smart Parking Market is projected to reach $11,553.6 million by 2025, witnessing a CAGR of 11.2% from 2018 to 2025.
These findings and forecasts make us optimistic about the prospects of the company.
CVFlow Architechture: A Key Driver
Ambarella is making steady progress on the development and delivery of computer video solution based on its CVFlow architecture. The company released CVFlow software developed kits, supporting its CV2 and CV22 SoCs, attracting positive consumer feedback.
In further efforts to build relevant products for markets with impressive opportunities, Ambarella launched the CV22AQ automotive camera SoC for Advanced Driver Assistance Systems (ADAS), in December last year.
On the same day, it announced its partnership with intelligent visual perception software developer, HELLA Aglaia, to develop a platform based on the CV22AQ technology. This will add advanced AI features in front ADAS cameras.
Growing demand for single chip solutions with integrated computer vision processing in the surveillance camera market bodes well for the company’s CVflow architecture-based SoC solutions.
Zacks Rank & Stocks to Consider
Ambarella currently has a Zacks Rank #3 (Hold).
A couple of top-ranked stocks in the broader Computer and Technology sector are Silicon Motion Technology Corporation (SIMO - Free Report) , and Cirrus Logic, Inc. (CRUS - Free Report) , each flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth for Silicon Motion and Cirrus is projected to be 5% and 15%, respectively.
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