Foresight(US:FRSX) Globenewswireยท2025-05-19 12:10Core Viewpoint - The collaboration between Foresight Autonomous Holdings Ltd. and StreamRail aims to enhance safety and operational efficiency in urban rail transit systems through the integration of advanced 3D perception technology [1][5]. Company Overview - Foresight Autonomous Holdings Ltd. specializes in developing advanced three-dimensional perception systems and cellular-based applications, targeting various markets including automotive and rail transit [7][8]. - StreamRail is a leader in rail transit technologies, focusing on intelligent control, detection, and maintenance solutions for rail systems, and has implemented its technologies in over 30 cities globally [6]. Collaboration Details - The initial phase of the collaboration will focus on developing an innovative obstacle detection system that utilizes advanced sensors and AI to reduce collision risks on rail tracks [2]. - The revenue potential from this project is estimated to reach up to $12 million by 2029, with commercialization expected to start in 2026 [2]. - StreamRail has secured exclusive distribution rights for the new solution in China, contingent upon achieving sales of at least $1.5 million during 2026 and 2027 [2]. Market Insights - The global market for Rail Transit Obstacle Detection Systems is projected to grow from $1.97 billion in 2024 to $3.2 billion by 2032, with the metro segment expected to lead this growth due to urbanization and the need for advanced safety solutions [4]. - The rising adoption of AI-powered and cloud-based monitoring technologies is a significant driver of this market growth [4]. Strategic Importance - The partnership signifies a shift from first-generation 2D to second-generation 3D technology in train safety systems, addressing key challenges in railway transportation [3]. - The collaboration is expected to deliver innovative, safe, and reliable onboard intelligent products, enhancing the overall value for global customers and passengers [3].