Prophesee addresses high growth market demand for AI-enabled vision systems with strengthening of leadership team and new organizational alignment

Responding to high growth demand in both existing and emerging market segments, Prophesee, the inventor of the world’s most advanced neuromorphic vision systems, announced a strengthening of its executive team and a new organizational structure to better align the company with the specific requirements of business opportunities worldwide. The company will now have two market-focused business units – one dedicated to the mobile sector which will be headed by Julien Mottin, and a second concentrating on key emerging applications areas as well as the company’s core industrial automation markets, headed by Liran Bar. In addition, addressing the particularly strong growth and unique market requirement of the China market, Prophesee has named Xuefei Yang as head of its China operations.  

The two business unit heads and the China head will report to company co-founder and CEO Luca Verre. 

According to market research firm Yole Developpement, the neuromorphic sensing market is set to grow at a CAGR of 116% between 2025 and 2030 to reach $5 billion in 2030. The three main neuromorphic market segments will be Mobile, Industrial and Emerging says Yole’s Neuromorphic Computing and Sensing Report 2021.

“This is a natural evolution of our business strategy and a direct response to market demand we are seeing. It is being driven by the rapid progress we have made in achieving commercial success through multiple generations of our Metavision technology, resulting in our solution demonstrating a proven level of adoption and maturity. This coincides with a continuing surge in customer demand for better, more efficient vision–enabled systems across a wide range of industries. To that end, we see a need to take a market–focused approach and align our solutions and resources directly with the specific needs of the markets we are serving”, said Luca Verre, co-founder and CEO of Prophesee.

Prophesee has established a strong foundation in the industrial automation market, with customers and partners applying its solutions in robotics, factory automation and logistics, packaging, scientific and medical research, and inspection and predictive maintenance applications. The new Emerging and Industrial Business Unit will focus on expanding that market as well as penetrating further into emerging use cases for the Metavision platform in areas such as AR/VR headsets, IoT devices, and security systems. 

The company’s recent partnership with Qualcomm is underpinning its focus on the high growth mobile market and Prophesee has several engagements with mobile device OEMs in progress. The adoption of event–based vision sensors in such devices represents a ‘crossing the chasm’ opportunity for the technology and holds the potential to significantly improve how vision sensing and imaging processing can be performed in mobile applications, bringing the speed, efficiency, and quality of neuromorphic-enabled vision to this market.