Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 15

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 4
Chunk 15
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 help prevent collisions
with pedestrians, cyclists and other vulnerable road users, or VRUs. According to a recent research report conducted by Frost and Sullivan,
the global safety tech market, including ADAS and CMS for trucks and buses and driver protection doors for buses, is expected to reach
$15 billion by 2028 and to grow at a CAGR of 21.5% from 2023 to 2028.

Our technologies aim to deliver
important environmental and social benefits to our customers and are well-aligned with industry trends. Our products eliminate the need
for mechanical mirrors and deliver critical financial benefits. For example, CMS technologies have been shown to reduce the maintenance
and downtime costs related to bus accidents by 40% over an 18-month period, and can deliver improvements in fuel economy of up to 4%,
as traditional wing mirrors add to aerodynamic drag. As such, operators’ investments in advanced CMS systems typically carry a
rapid payback period of two to three years while reducing total cost of ownership.

We believe that replacing
traditional side-view mirrors with smart, adaptive cameras is a trend that will accelerate in the future. In December 2021, the City
of London made the decision to aim to retrofit a majority of its public transportation fleet with CMS technologies, and in January 2025,
we announced as a result of our strategic partnership with Journeo plc, a pioneering technology group providing solutions to the transport
community and one of the largest integrators of our ADAS solution, London’s bus fleet of 8,500 commercial buses is on track to
be equipped with our Smart-Vision system through retrofit and new vehicle installations. Gauzy’s share of the ADAS market in London
was approximately 30% in 2024, and this technology is now operational on over 2,500 public buses throughout the city. This growing partnership
with Journeo will allow us to penetrate other European countries in Norway, Iceland, Sweden and Denmark where Journeo already operates,
and benefit from Journeo’s planned expansion in the region as we anticipate a substantial number of the new buses in Europe will
utilize ADAS technologies in the future. In addition, in October 2024, we announced that our ADAS system was installed to fully replace
traditional side mirrors on Capital District Transportation Authority, or the CDTA, of New York’s public buses, signifying the
next phase of CDTA’s multi-year phase-in program designed to improve road safety. Additionally