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Cutting-edge innovation in computer vision is finding acceptance in the market for automotive cameras. Automotive companies are on the lookout for possible value-grab opportunities in the industry due to the expansion of digital technologies in vehicle cameras that enable applications like parking assistance, blind spot detection, and adaptive cruise control, among others.
The greatest way to increase safety and decrease accidents are to have vehicles with EV cameras, which aid the driver to interact by recognizing lane markers in front of the car, monitoring the vehicle’s location inside its lane, and issuing alerts when the vehicle leaves its lane.
Additionally, the camera in a car is utilized to recognize other cars in front of it and change its speed accordingly to prevent collisions. Demand for car cameras is anticipated to rise as user and vehicle security become more important.
The South Korea EV Camera Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2026, registering a CAGR of XX% from 2024 to 2030.
For the bulk of Tesla Inc.’s electric vehicles, Samsung Electro-Mechanics Co., the electronic components branch of the Samsung Group, has a multi-billion dollar deal to provide camera modules. The South Korean company outbid Primax Electronics Ltd. of Taiwan and rival LG Innotek Co. from across the street to win the contract.
Samsung Electro-Mechanics signs its single largest deal in company history and solidifies its position as Tesla’s top supplier of camera modules with this arrangement.
This time, the components will be Samsung’s version 4.0 camera modules, which have 5 million pixels and display images that are five times crisper than the company’s previous 3.0 modules. Samsung plans to produce the newest camera modules in large quantities.
Over the next several years, Samsung will supply its most modern camera modules for electric vehicles like the Cybertruck and the Tesla Semi in addition to Tesla’s Model 3 car, Model S sedan, Model X SUV, and Model Y crossover.
