ANSYS Inc. (ANSS - Free Report) announced its collaboration with AEye for boosting safety in autonomous vehicle technologies.
Markedly, AEye will integrate its Intelligent Detection and Ranging (iDAR) platform with ANSYS' industry-leading simulation solutions. Moreover, the company will enable virtual prototyping of AEye solutions to speed design, testing and validation of automotive perception technologies.
Safety in Autonomous Systems Gain Importance
Next-generation sensors play a vital role in safeguarding autonomous driving by quickly and correctly interpreting certain hazardous road scenarios that cannot be detected by conventional perception platforms.
For validating sensors’ effectiveness, thorough road testing must be successfully completed — demanding significant development time and expenses.
By collaborating with ANSYS, AEye will empower automotive manufacturers to potentially simulate driving situations across millions of miles in just days and minimize physical prototyping.
ANSYS, Inc. Price and Consensus
More on AEye & ANSYS Collaboration
ANSYS expects iDAR to facilitate substantial advancements in autonomous vehicles and advanced driver assistance systems' reliability. This will improve autonomous perception and, in turn, lead to safer roads.
Per the deal, AEye will implement ANSYS SPEOS and ANSYS VRXPERIENCE, a state-of-the-art driving simulation tool, into the design of AEye's iDAR. This will help customers to quickly test and certify iDAR designs within a realistic virtual driving environment.
By leveraging on AEye and ANSYS technologies, autonomous vehicles will be able to focus and evaluate road conditions better as well as improve safety and reliability of autonomous systems.
Additionally, through the integration, automotive customers deploying autonomous vehicle and advanced driver assistance systems (ADAS) will be able to virtually prototype AEye's software-definable, agile LiDAR to simulate their environment.
Moreover, as OEMs and Tier 1 manufactures adopt iDAR, simulation solutions provided by ANSYS will reduce development time and optimize implementation.
ANSYS’ leadership in simulation technology is likely to help the autonomous vehicles industry to test their designs and overcome road-safety challenges in a cost-effective manner.
The company has partnered with FLIR Systems (FLIR - Free Report) , BlackBerry Limited (BB - Free Report) , Edge Case Research, NXP Semiconductors, Embotech and BMW Group for incorporating safety features in autonomous vehicles.
Additionally, ANSYS’ simulation solutions are gaining prominence in the aerospace end-market. Moreover, the growing clout of AI, 5G and ADAS chipset making is fueling demand for computational software tools, which favors ANSYS’ prospects.
Per Mordor Intelligence data, the simulation software market is projected to reach $16.69 billion by 2024 at a CAGR of 15.14%.
We believe that strategic partnerships will aid ANSYS to strengthen its competitive position in the simulations market.
Zacks Rank & Stocks to Consider
Currently, ANSYS carries a Zacks Rank #3 (Hold).
A better-ranked stock in the broader technology sector is Synopsys (SNPS - Free Report) , 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 rate for Synopsys is currently pegged at 12.8%.
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