- Innoviz Technologies (INVZ, Financial), Sparsh CCTV, and Cron AI partner for an integrated LiDAR-camera solution in India.
- The collaboration targets a $1 billion+ market opportunity in perimeter security and intelligent transport systems.
- The solution operates efficiently on 8 watts with no GPU, designed for India's challenging environmental conditions.
Innoviz Technologies (NASDAQ: INVZ) has announced a strategic collaboration with Sparsh CCTV and Cron AI to launch a cutting-edge LiDAR-camera-vision perception platform across India. This initiative aims to capitalize on the rapidly expanding perimeter security and intelligent transport sectors, with a total addressable market estimated to exceed $1 billion. With the significant backing of Sparsh CCTV, which has a presence in over 120 cities and a network of more than 2,000 partners, the partnership is well-positioned to lead market penetration and explore local manufacturing opportunities.
The comprehensive solution merges Innoviz's state-of-the-art LiDAR technology, Cron AI's advanced deep learning perception capabilities, and Sparsh's sophisticated vision systems. This integration forms an edge-native platform specifically engineered for the diverse and challenging conditions in India. Notably, the system operates at a mere 8 watts without the need for GPU support, which is particularly advantageous in regions with inconsistent power infrastructure.
The collaboration targets several high-growth markets, including India's perimeter security sector, which is currently valued at $3.23 billion and expected to grow at a 14% CAGR through 2030, and the intelligent transport market, which stands at $1.44 billion. The platforms are intended to deliver real-time, edge-native intelligence across transport, security, railways, and critical infrastructure, providing invaluable insights into vehicle dynamics, pedestrian safety, and perimeter monitoring.
By exploring local manufacturing and aligning with India's 'Make in India' initiative, the partnership may also reduce import barriers. This strategic move could lead to potential government contracts, ensuring longer-term revenue stability. Overall, the collaboration between Innoviz Technologies, Sparsh CCTV, and Cron AI exemplifies a forward-thinking approach to leveraging advanced technologies for enhancing India's infrastructural capabilities.
