Samsung Electro-Mechanics partners with Hyundai Motor Company and Kia Corporation to expand the automotive electronics market. Samsung Electro-Mechanics announced on Oct. 9 that it has been selected as a primary supplier by Hyundai Motor Company and Kia Corporation in recognition of its superior technology, quality, and stable product supply capabilities in the automotive camera field.
Samsung Electro-Mechanics plans to supply two types of cameras to Hyundai and Kia vehicles, one for the Surround View Monitor (SVM) and the other for the rear-view monitor.
The SVM and rear-view monitoring cameras will be used in parking assist systems that display images of the vehicle's surroundings. Visibility and safety have been secured by applying a special method to the lens joints to block unnecessary light from entering the camera.
Notably, the products retain water repellency for more than 2,000 hours, which is approximately 1.5 times longer than any other product on the market.
“Samsung Electro-Mechanics has proven its product competitiveness in the automotive electronics market through its selection as the primary partner of Hyundai Motor Company and Kia Corporation,” said Chang Duckhyun, CEO of Samsung Electro-Mechanics, “Based on the know-how accumulated in IT cameras, such as lens design technology and internalization of manufacturing, we will provide solutions that increase customer value by building a state-of-the-art lineup of automotive cameras and strengthening production capacity.”
Meanwhile, the market for automotive camera modules is expected to grow from USD 4.3 billion in 2022 to USD 8.9 billion in 2027, at a compound annual growth rate of approximately 16%.
Based on its proprietary technology in designing and manufacturing core components such as lenses and actuators, Samsung Electro-Mechanics plans to expand its automotive camera module business by supplying differentiated products centered on high-performance products such as ADAS (Advanced Driver Assistance System) and diversifying its customer base.