PolarisWix Signs Additional 5.5 Billion Supply Contract with PixelPlus... "Car Image Sensor Market to Reach 22 Trillion by 2030"

[Asia Economy Reporter Hyunseok Yoo] The demand for vehicle camera modules is rapidly increasing due to the popularization of autonomous driving ADAS (Advanced Driver Assistance Systems). Polaris Works, which succeeded in commercializing the high-reliability automotive package ‘NeoPAC® Encap,’ has secured an additional order worth approximately 5.5 billion KRW from PixelPlus.

On the 3rd, Polaris Works, a company specializing in image sensor packaging, announced that it signed a supply contract worth about 5.5 billion KRW for the ‘NeoPAC Encap package’ with PixelPlus, a company specializing in image sensor design. This amount corresponds to about 69% of recent sales revenue.

Since signing a supply contract worth about 1.2 billion KRW for the ‘NeoPAC Encap package’ last September, Polaris Works and PixelPlus have been collaborating by ramping up mass production. Currently, mass production of automotive VGA (688x528) grade sensors is underway. Additional development of HD (1280x720) and FHD (1920x1080) grade sensors is being prepared.

A representative from Polaris Works said, “The ‘NeoPAC Encap package’ product obtained AEC-Q100 (automotive component reliability evaluation standard) certification in 2020 and has received full-scale mass production requests from multiple companies this year. We are expanding its applications to ADAS sensing cameras and around-view sensing cameras, which are core technologies of autonomous vehicles.”

He added, “With the acceleration of the automotive electrification trend, the average number of camera modules installed per vehicle is expected to increase from 2 to at least 6 by 2025. As a result, we anticipate continued additional orders for our uniquely competitive ‘NeoPAC Encap package.’ Demand is surging, so continuous benefits are expected in the vehicle image sensor business sector.”

Polaris Works is actively improving its business structure by diversifying sales from image sensors for existing mobile and IT devices to automotive image sensors. In August, it began mass supplying third-generation ToF (Time-of-Flight) sensor packages to Melexis, a Belgium-based automotive semiconductor company. These sensor packages have been installed in ADAS sensors such as driver monitoring systems (DMS) and gesture recognition (HMI) for global European automotive brands.