There are major advancements coming to the world of automotive technology; it's going to get much easier and safe to drive—and navigate—cars, explains Rob DeFrancesco, editor of Tech Stock Prospector.

Mobileye (MBLY), the leading provider of camera-based advanced driver assistance systems (ADAS) technology, plans to stay at the forefront of the auto tech mega-trend.

The company has an 80% share of the vision-based driver assistance segment, offering the most complete set of safety and convenience functions currently available.

What sets Mobileye apart is its EyeQ system-on-a-chip, which delivers high performance and low energy consumption at a low cost.

EyeQ enables real-time visual recognition and scene interpretation across various traffic situations involving lane departure warnings, lane change support, collision warnings, traffic jam assistance, adaptive cruise control, and intelligent high beams.

Mobileye is working with 20 automakers (up from seven in 2010) and there are roughly 3.3 million cars on the road today with the company's technology.

While competition will naturally heat up as ADAS technology becomes more mainstream, Mobileye wants to hold onto as much of its big market share as possible.

By the end of this year, Mobileye solutions will be available in 160 different models, with products ready for nearly 240 models by 2016.

Note, that there has been a lot of chatter about autonomous driving, but that is something that remains a ways off due to its complex requirements.

However, semi-autonomous capabilities will begin to expand, starting with hands-free highway driving and in congested traffic situations. Mobileye has design wins with two automakers to launch these features in 2016.

And sometime next year, the company expects to debut camera-only auto emergency braking.

Revenue last year jumped 101% to $81 million; for 2014, revenue is expected to be up 65%. While this top-line growth is impressive, there’s a disconnect when it comes to valuation; Mobileye sports a giant market cap of $10.6 billion.

No question, the outlook is bright. Just from a safety perspective, automakers are going to need to equip their cars with ADAS technology to stay competitive.

But we are still early in this mega-trend and most of the good news is priced into the shares, so we recommend holding out for a better entry level.

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