Newsight Imaging and Brightlaser Awarded Collaboration Grant to Develop Next Generation 3D Home and Industrial Security LiDAR
NESS ZIONA, Israel, May 03, 2023 (GLOBE NEWSWIRE) -- Newsight Imaging Ltd. (“Newsight”), a leading semiconductor innovator developing proprietary 3D machine vision sensors, spectral vision chips and systems, and Brightlaser Limited (“Brightlaser”), a global competitive supplier in VCSEL (vertical-cavity surface-emitting laser) technologies, today announced that Brightlaser has been awarded the first grant from the Hong Kong-Israel R&D Cooperation Programme to develop a next generation 3D home and industrial security LiDAR camera solution.
- After being introduced by the commercial attaché and the Consulate of Israel in Hong Kong & Macau, Newsight and Brightlaser partnered to apply for a grant to develop a next generation 3D home and industrial security LiDAR camera, based on Newsight Imaging’s eTOF™ proprietary patented technology and Brightlaser’s innovative solution for VCSEL.
- “Their joint project uses LiDAR technology, commonly used for smart transportation purposes, for industrial and private security markets as well.
- The 3D LiDAR Home Security market is currently a fraction of that, at roughly USD 305 Million, with the market demanding a robust shift towards LiDAR solutions.
- 3D LiDAR Home Security Systems are set to grow much faster than the overall market, between 8% and 16% CAGR into 2030.