Velodyne Lidar, Inc. (NASDAQ: VLDR) stock price jumped 12.5% to $11.15 in the after-hours Monday after the news to promote uses of lidar in smart city solutions, Velodyne Lidar is partnering with Qualcomm’s Smart Cities Accelerator Program.
Through its partnership with Qualcomm Technologies, Inc., Velodyne will extend its collaboration with Qualcomm Technologies, Inc., government agencies, and solution developers to help create smart city applications that improve public services and enhance safety and quality of life.
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The Velodyne Lidar sensor can be used to measure and monitor conditions in areas such as vehicle traffic, pedestrian safety, parking space management, speed measurement, V2X communications, queue management, asset management, security, and more.
A smart city solution can rely on Velodyne’s lidar sensors to take measurements and monitor conditions related to pedestrian safety, vehicle traffic, parking space management, speed measurement, V2X communication, queue and asset management, security, and more. The sensors can collect exact and detailed 3D information about people, cars, bicyclists, public spaces, and more while maintaining their anonymity.
Existing camera-based ITS traffic monitoring systems have been used to assess traffic flow rates, occupancy rates, average speeds, and spot speeds until recently. But as more and more sensors come onto the market, their weaknesses become apparent. For example, cameras suffer in low-light conditions, are prone to optical illusions, and are inherently insensitive to privacy. With Velodyne’s lidar sensors, objects will be detected and tracked in any condition, regardless of lighting or weather.
Velodyne is also an ideal sensor for supporting municipal needs without compromising citizens’ privacy since it does not recognize individuals by their characteristics, such as their faces or skin color. Smart city applications designed with Velodyne lidar can enhance safety, social welfare, and operational efficiency.