Periodic Reporting for period 1 - preSENSE (IoT-ready radar sensors with micrometer-level accuracy for safe human-machine collaboration)
Reporting period: 2019-08-01 to 2019-11-30
Last advances in smart sensor technology are greatly contributing to the emergence of Industry 4.0 a new industrial revolution that will involve improved productivity, higher efficiency, more safety, and also better flexibility and agility provided by new cloud technologies. Among the wide spectrum of smart sensors, motion sensors are intended to detect, identify and track human beings and objects, providing smart capabilities to a broad range of industrial systems and equipment. OndoSense has developed preSense, a compact and IoT-ready motion sensor, which thanks to the use of mm-wave radar technology is able to provide an accuracy down to 1 µm (i.e. 1,000 times higher than current existing solutions in the market). PreSense has been specifically designed to work with Industry 4.0-related technologies (i.e. big data, cloud-based, IoT), aiming to lead the next generation of Industry 4.0-ready smart motion sensors. The goal of the present project has been to perform a comprehensive assessment of the technical, commercial and financial feasibility of preSense deployment to the market.
Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far
PreSense's technical value and performance have been validated by both in-house technical tests and pilot demonstrations with a series of partners and early adopters. From the commercial point of view, we have performed a detailed market and competitor analysis, which has confirmed the excellent market projections and commercial potential of preSense. Additionally, we have defined a complete business plan and a comprehensive commercial strategy. A detailed financial analysis has showed an excellent scalability potential and promising projections for the first 5 years of preSense commercialisation.
Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)
The integration of novel features such as artificial intelligence capabilities, together with its competitive selling price compared with current solutions in the market, is expected to boost preSense's value for money, facilitating its mass adoption and creating new market opportunities. The successful commercialisation of preSense can contribute to increase productivity up to 30% in some industries and segments. This would represent, only in the automotive industry, €7 billion of cost reduction per year. Furthermore, preSense can contribute to improve workplace safety, reduce downtimes, decrease energy consumption, reduce maintenance costs, and place Europe at the forefront of cutting-edge smart motion sensor technologies and innovation.