Cepton, Inc.’s (NASDAQ: CPTN) Confidence Rises as Lidar Becomes Critical Element in Road Safety Toolbox Amid Record High Pedestrian Fatalities

  • The latest data uncovers a troubling reality that existing technologies have limitations in mitigating road accidents; pedestrian deaths reached a grim milestone not seen in four decades
  • As the need for better transportation safety becomes more urgent than ever before, innovative solutions are needed; the latest research shows that combining lidar, camera, and radar can achieve the greatest potential for eliminating fatalities
  • As a company leading the charge in designing next generation lidar technology, Cepton is committed to prioritizing safety in automated vehicles to enhance the traffic experience for today’s drivers, passengers, and pedestrians

The latest figures from the United States reveal a worrisome trend. Despite the increased use of advanced safety and collision avoidance technology in modern cars, pedestrian fatalities have been on the rise, revealing a gap within today’s widely deployed technologies in mitigating traffic accidents. Companies like Cepton (NASDAQ: CPTN) work to design innovative solutions that can bridge this gap and provide increased safety and efficiency for drivers worldwide. With lidar innovations that aim to deliver an unmatched combination of superior performance, power efficiency, adaptivity, compactness, cost, and reliability, Cepton focuses on enhancing the experience for today’s drivers, passengers, and pedestrians alike to give them a stronger sense of safety as an essential prerequisite for broader consumer acceptance.

Even with all the technological advancements, roadway crashes continue to be the leading cause of death in the U.S., and pedestrians are dying at the highest rate in decades. Following a 25-year period of decline, fatalities have alarmingly increased in recent years, with the number of pedestrian deaths reaching its highest level in 4 decades. Motor vehicle crashes claimed nearly 43,000 lives in 2021 ‒ a surge from 39, 000 in 2020. Even the early days of the pandemic, when lockdowns kept many people off the roads, were not enough to reverse this somber trend as 2020 saw a 7% spike compared to the year before (https://ibn.fm/pJaGu).

Thankfully, the latest developments in transportation technology provide a dose of optimism for making roads safer. Experts predict that automated vehicles can substantially reduce pedestrian fatalities by preventing accidents caused by human error. Designed to ensure safer and more efficient travel, these vehicles use advanced sensors and algorithms to perceive objects in their environment and make driving decisions accordingly.

Given the high stakes involved, ADAS or autonomous vehicles’ potential to save lives on the road continues to be a major driver of investment and innovation that enhances vehicle perception and object detection – a critical function affecting transportation safety for millions of Americans every day. To understand and respond to their environments, these vehicles must be able to detect important road elements, including pedestrians.

Although, recent research shows that not all sensors in automated vehicles are created equal as their abilities to detect pedestrians in advance of fatal collisions vary widely – from less than 30% to more than 90% of fatalities. Here, combining different technologies holds the key to enhanced safety, experts say. When lidar, camera, and radar are combined, they can achieve the greatest potential for eliminating fatalities – as much as 98% of pedestrian fatalities from vehicle crashes. This rate dwarf’s single sensor systems, such as camera-only, that reach a meager 36% effectiveness rate that pales in comparison (https://ibn.fm/ObRUp).

Against this backdrop of deteriorating trends on American roads, the safety of passengers and pedestrians has risen as a top priority among industry leaders, policymakers, and the public at large. As a leader in high-performance lidar solutions designed to empower vehicles to perceive the environment with confidence, Cepton views safety as a certainty of perception for everyone, not just for the privileged. In pursuance of the company’s mission, safety is not placed before autonomy; it is at the core of autonomy.

As one of the few companies to scale lidar for high-volume, multi-vehicle model deployment, Cepton aims to take lidar mainstream, focusing on the mass market commercialization of high-performance, high-quality lidar solutions that can seamlessly integrate with vehicles’ other systems to create an all-around safety net that boosts confidence in both drivers and passengers.

For more information, visit the company’s website at www.Cepton.com

NOTE TO INVESTORS: The latest news and updates relating to CPTN are available in the company’s newsroom at https://ibn.fm/CPTN

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