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Automotive Radar Sensors Market to Grow by USD 6.51 Billion (2024-2028), High-Frequency Radar Sensors Drive Growth, Report on How AI Redefines Market Landscape – Technavio

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NEW YORK, Nov. 26, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global automotive radar sensors market size is estimated to grow by USD 6.51 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 14.01%  during the forecast period. Availability of high-frequency radar sensors is driving market growth, with a trend towards increased accuracy in perceiving environment through sensor fusion technique. However, concerns associated with cybersecurity risks poses a challenge.Key market players include Acconeer AB, AISIN CORP., Arbe Robotics Ltd, AU Inc, Autoliv Inc., Banner Engineering Corp., DENSO Corp., Faurecia SE, Infineon Technologies AG, Tsien UK Ltd, MediaTek Inc., NXP Semiconductors NV, Renesas Electronics Corp., Robert Bosch GmbH, Rohde and Schwarz GmbH and Co. KG, S.m.s Smart Microwave Sensors GmbH, Schaeffler AG, Texas Instruments Inc., Valeo SA, Vayyar Imaging Ltd., and Eravant.

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Automotive Radar Sensors Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 14.01%

Market growth 2024-2028

USD 6.51 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

13.39

Regional analysis

Europe, North America, APAC, South America, and Middle East and Africa

Performing market contribution

Europe at 31%

Key countries

US, China, Japan, Germany, and UK

Key companies profiled

Acconeer AB, AISIN CORP., Arbe Robotics Ltd, AU Inc, Autoliv Inc., Banner Engineering Corp., DENSO Corp., Faurecia SE, Infineon Technologies AG, Tsien UK Ltd, MediaTek Inc., NXP Semiconductors NV, Renesas Electronics Corp., Robert Bosch GmbH, Rohde and Schwarz GmbH and Co. KG, S.m.s Smart Microwave Sensors GmbH, Schaeffler AG, Texas Instruments Inc., Valeo SA, Vayyar Imaging Ltd., and Eravant

Market Driver

The Automotive Radar Sensors market is experiencing significant growth due to the increasing demand for advanced safety features in both passenger and commercial vehicles. Radar sensors, including short-range and long-range, are crucial components of Advanced Driver-Assistance Systems (ADAS) and Autonomous Driving (AD) systems. Optical imaging, video, ultrasonic, infrared, LIDAR, and ultrasound are alternative technologies, but radar sensors offer superior detection capabilities and range. ADAS applications include Intelligent Park Assist, Lane Change Assistance, and Collision Prevention. Long-range radar sensors operate at 24 GHz, 77-GHz, and 79GHz frequencies, enabling high-resolution tracking and detection of objects at greater distances. Short-range radar sensors are used for parking assistance and collision mitigation. The autonomous car market is a major driver of the radar sensor industry, with companies like Tesla, Waymo, and NVIDIA investing heavily in this technology. Radar sensors are also used in security and surveillance, industrial applications, traffic monitoring, and infrastructure development. The future of the automotive radar sensor market lies in technology innovation, electrification, and mobility solutions. 

Modern vehicles incorporate numerous electronic systems, including radar, ultrasound, LIDAR, and cameras, to enhance Advanced Driver Assistance Systems (ADAS) features. Strict regulations and OEM differentiation drive the increasing demand for automotive radar sensors. However, these systems operate independently, limiting their effective and realistic functionality. Overcoming the shortcomings of each sensor type requires integration and information exchange among them, which is currently lacking. Thus, the market for automotive radar sensors continues to grow, addressing safety and regulatory requirements. 

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Market Challenges

The Automotive Radar Sensors market is experiencing significant growth due to the increasing demand for advanced safety features in both passenger and commercial vehicles. Traditional sensors like Optical imaging, Video, Ultrasonic, and Infrared are being supplemented by newer technologies such as LIDAR, Short range radar, Mid range radar, and Long range radar. Automakers are integrating these sensors into Advanced Driver Assistance Systems (ADAS) and Autonomous Driving (AD) systems, including Intelligent Park Assist, Lane change assistance, and Collision prevention. Automotive radar sensors operate at various frequencies, including 24 GHz, and offer long-range detection capabilities. SAE-Level 3 automation and autonomous driving are driving the market, with technologies like DRIVE PILOT leading the way. The industry is also being influenced by trends such as Industry 4.0, electrification, and mobility. However, challenges remain, including the need for innovative packaging concepts and cutting-edge production processes for high-frequency components. The market is also impacted by competition from other sensors like cameras and ultrasound, as well as Moisture sensors and other technologies. The autonomous car market, consumer electronic devices, and infrastructure development are also key factors influencing the market. Long-range radar sensors, operating at 77-GHz and 79GHz frequencies, offer high-resolution tracking and detection capabilities, making them essential for collision mitigation (CM) and parking assistance (PA) systems. The market is expected to continue growing, driven by the increasing demand for safety features and the development of autonomous cars.Radar sensors in the automotive industry transmit signals between vehicles and roadside infrastructure, making them susceptible to eavesdropping attacks by malicious actors. These attacks can compromise vehicle privacy and expose sensitive information, such as location data, driving patterns, and vehicle telemetry. Cybercriminals may also launch denial-of-service (DoS) attacks against radar sensors or their communication networks, impairing sensor performance and disrupting safety-critical functions. Additionally, radar sensor systems are vulnerable to malware and ransomware attacks, which can inject malicious software into electronic control units (ECUs) or networked components, potentially causing significant harm to vehicle operations. It is essential for automotive companies to prioritize cybersecurity measures to protect against these threats and ensure the safe and reliable operation of radar sensors in vehicles.

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Segment Overview 

This automotive radar sensors market report extensively covers market segmentation by 

Type 1.1 Medium-range1.2 Long-range1.3 Short-rangeApplication 2.1 FCW2.2 AEBS2.3 ACC2.4 BCD and othersGeography 3.1 Europe3.2 North America3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Medium-range-  The Automotive Radar Sensors Market is driven by the increasing adoption of advanced collision avoidance and prevention systems in both passenger and commercial vehicles. These systems utilize radar sensors to detect and alert drivers when their vehicle is approaching another at an unsafe distance. The systems offer various warning mechanisms, including alarm sounds, warning lights, or vibrations. The US National Highway Traffic Safety Administration (NHTSA) and New Car Assessment Programme (NCAP) in the EU, Japan, Korea, and China have mandated or encouraged the use of these systems in heavy vehicles and trucks. Tests have shown significant positive results in reducing crashes caused by driver distraction and other factors. Furthermore, these sensors are part of the bundled Advanced Driver-Assistance Systems (ADAS) offering, making them a standard fitment in the future. The global Automotive Radar Sensors Market is expected to grow significantly during the forecast period due to these factors.

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Research Analysis

The Automotive Radar Sensors market is a rapidly growing segment in the automotive industry, driven by the increasing demand for advanced safety features and autonomous driving technologies. Radar sensors use radio waves to detect objects and measure their distance, velocity, and size. They offer several advantages over other sensing technologies such as optical imaging, video, ultrasonic, and infrared. Radar sensors come in various ranges, including short, mid, and long-range, catering to different applications in Advanced Driver Assistance Systems (ADAS) and Autonomous Driving (AD) systems. These systems enhance automation and mobility, providing features like lane change assistance, collision prevention, and safety enhancements. Industry 4.0 and electrification are also influencing the market, as radar sensors play a crucial role in optimizing vehicle performance and ensuring safety in these advanced technologies. With the increasing number of registered cars and the growing focus on mobility solutions, the Automotive Radar Sensors market is poised for significant growth in the coming years. Technology innovation continues to drive the market, with high-frequency components and advanced signal processing algorithms enabling improved accuracy and reliability. The market is expected to expand across passenger vehicles and commercial vehicles, catering to the diverse needs of the automotive industry.

Market Research Overview

Automotive Radar Sensors are an essential component of Advanced Driver-Assistance Systems (ADAS) and Autonomous Driving (AD) systems in modern vehicles. These sensors use radio waves to detect objects in the vehicle’s surroundings, providing real-time information on range, velocity, and angle. Unlike Optical imaging, Video, Ultrasonic, Infrared, and LIDAR sensors, Automotive Radar Sensors operate using radio waves in various frequency bands, including Short Range Radar (SRR), Mid Range Radar (MRR), and Long Range Radar (LRR). Radar sensors play a crucial role in various ADAS features, such as Lane Change Assistance, Collision Prevention, and Automation. They come in different frequency bands, with 24 GHz being commonly used for short-range applications, and 77-GHz and 79GHz frequencies for long-range detection. The Automotive Radar Sensors market is growing rapidly due to the increasing demand for safety features in passenger cars and commercial vehicles. The market is also driven by the trend towards autonomous driving and Industry 4.0, which requires high-resolution tracking and detection capabilities. The market for Automotive Radar Sensors is expected to grow significantly in the coming years, driven by the increasing number of registered cars, the adoption of SAE-Level 3 and higher automation, and the expanding use cases in areas such as security and surveillance, industrial applications, and traffic monitoring. The development of Automotive Radar Sensors involves cutting-edge production processes and innovative packaging concepts to ensure high-frequency components perform optimally. The market is also witnessing technology innovation in areas such as electrification, mobility, and safety features, making radar sensors an essential component of the future of transportation.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeMedium-rangeLong-rangeShort-rangeApplicationFCWAEBSACCBCD And OthersGeographyEuropeNorth AmericaAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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AVAILABILITY OF ANNUAL GENERAL AND SPECIAL MEETING MATERIALS AND ALTERNATIVE VOTING PROCEDURES

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November 27, 2024

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TSXV – AGAG

VANCOUVER, BC, Nov. 26, 2024 /CNW/ – Argenta Silver Corp. (TSXV: AGAG) (“Argenta” or the “Company”) announces that, due to the current delays and suspension of mail service in Canada due to the nationwide strike of the Canadian Union of Postal Workers that commenced on November 15, 2024 (the “Postal Strike”), the notice of meeting and information circular (the “Meeting Materials”) for its upcoming annual and general special meeting being held on Tuesday December 17, 2024 (the “Meeting”) have not yet been mailed, but have been posted and are accessible on the Company’s SEDAR+ profile at www.sedarplus.ca and on the Company’s website at www.argentasilver.com.  Shareholders of the Company are encouraged to access the Meeting Materials directly through the above-mentioned websites, or may contact the Company’s transfer agent, Computershare Trust Company of Canada (“Computershare”) toll-free between the hours of 8:30 AM and 8:00 PM EST at 1-800-564-6253 or email at service@computershare.com to request copies of the Meeting Materials. In the event that the Postal Strike ends prior to the Meeting, the Company will mail the Meeting Materials in the normal course, but there can be no assurance that the Meeting Materials will be received by the shareholders prior to the Meeting.  The Company is in the process of evaluating its options with respect to relief from the mailing requirements for the Meeting Materials and will provide an update if and when such relief is granted.

How Registered Shareholders Can Vote

Registered shareholders are shareholders who hold their shares directly in the Company, and not through a brokerage account or depository company. The Company is advised that registered shareholders may submit their votes by proxy by completing the form of proxy available on the Company’s SEDAR+ profile or on the Company’s website (both linked above) and sending the completed proxy to Computershare by email at service@computershare.com. Registered shareholders who require assistance submitting their votes by proxy may contact Computershare toll-free between the hours of 8:30 AM and 8:00 PM EST at 1-800-564-6253 or email at service@computershare.com.

How Beneficial Shareholders Can Vote

Beneficial shareholders are shareholders who hold their investment through a brokerage house, depository company or other intermediary.  Beneficial shareholders should contact their brokerage house or depository company or other intermediary and ask to obtain their voting control number and the steps of how to vote, which could include internet voting, completing a form of proxy and emailing it, directing your broker over the phone on how you wish to vote or some other method as described by your brokerage house or depository company.

Financial Statements and MD&A

Copies of the Company’s annual financial statements and related management discussion and analysis for the year ended December 31, 2023, as well as interim financial statements and related management discussion and analysis for the quarterly periods ended March 31, 2024 and June 30, 2024  (collectively, the “Financial Statements and MD&A”) have been filed and are available on the Company’s SEDAR+ profile at www.sedarplus.ca.

The Company will provide physical copies of the Financial Statements and MD&A to securityholders upon request by phone at 604-609-6100 or email at mborthwick@fiorecorporation.com.  Following the conclusion of the Postal Strike, shareholders requesting Financial Statements and MD&A will be delivered those documents in the ordinary course.

About Argenta Silver Corp.

Argenta Silver Corp. is a focused silver exploration company committed to advancing projects that support the global energy transition. Our mission is to create sustainable, long-term value for shareholders by acquiring and developing high-potential silver assets in mining-friendly jurisdictions across Latin America. Led by an experienced management team with deep expertise in exploration, finance, and project development, Argenta takes a disciplined, strategic approach to growth. With a strong emphasis on responsible mining practices, we are well-positioned to meet the rising demand for silver—a critical metal in renewable energy and emerging technologies—while building a lasting and successful company.

On behalf of Argenta Silver Corp.

“Geir Liland”      

Chief Executive Officer

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE Argenta Silver Corp.

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Auriemma Group Uncovers Whether Stored Value Accounts are a Replacement to Traditional Banking

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November 27, 2024

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The rapid evolution of FinTech solutions continues to reshape consumer perceptions of banking, with stored value accounts (SVAs) emerging as a potential competitor to traditional banking accounts and cards. Auriemma Group’s latest issue of The Payments Reports uncovers positive sentiments around SVAs, underscoring their role in the financial ecosystem and raising questions about their long-term viability as a banking alternative.

NEW YORK, Nov. 26, 2024 /PRNewswire-PRWeb/ — The rapid evolution of FinTech solutions continues to reshape consumer perceptions of banking, with stored value accounts (SVAs) emerging as a potential competitor to traditional banking accounts and cards. Auriemma Group’s latest issue of The Payments Reports uncovers positive sentiments around SVAs, underscoring their role in the financial ecosystem and raising questions about their long-term viability as a banking alternative.

While stored value accounts offer benefits like lower fees and faster transactions, traditional banks deliver stability, security, and trust—advantages that consumers continue to value.

SVAs offered by providers like PayPal and Venmo allow consumers to preload or receive funds and use them for a variety of transactions. Auriemma’s research shows that 61% of debit cardholders view SVAs as at least complementary to traditional banking, while 31% believe these accounts could replace at least some banking functions. Notably, 8% feel SVAs could entirely replace traditional banking services.

“Stored value accounts represent an important evolution in financial tools, but the collapse of Synapse underscores the risks of fintech intermediaries not covered by the FDIC,” says Jonathan O’Connor, Senior Manager of Research at Auriemma Group. “While stored value accounts offer benefits like lower fees and faster transactions, traditional banks deliver stability, security, and trust—advantages that consumers continue to value.”

What Can Traditional Banks Do?

SVAs are causing a modest stir among cardholders. Less than three-in-ten say they would be likely to use the option if offered by a FinTech provider. However, as SVAs grow in popularity, traditional banks can differentiate themselves by doubling down on their strengths and addressing evolving consumer needs. Auriemma’s research highlights several strategies banks can use to endear themselves to current and potential customers:

Building Trust: Traditional banks should emphasize their strong track record of security—including FDIC backing—and fraud prevention. Providing clear, transparent policies and educating customers about safeguards can build trust that SVAs may not yet fully inspire.
 Enhanced Digital Experiences: Streamlining mobile and online banking interfaces can help banks compete with the tech-first approach of FinTechs. User-friendly apps with integrated budgeting tools, instant payments, and easy account management could make a significant difference.
 Personalized Financial Products: Banks can leverage their broad customer data to offer tailored financial products, such as personalized savings plans or rewards programs that align with individual spending habits.
 Bundled Offerings: By packaging SVAs with more traditional banking services—like high-yield savings accounts, credit cards, and loans—banks can create holistic financial solutions that FinTechs may struggle to match.

Opportunities for Growth

Most of those who have used a SVA with a FinTech provider say they would likely use more of that provider’s products, if available. This highlights the possibility of expansion SVAs create for those who use them. While largely benefiting FinTechs hoping to expand into other financial services, SVAs could also be a gateway for traditional banks hoping to deepen their relationship with new and existing customers.

“Traditional banks have the advantage of deep customer relationships, established financial stability, and the trust that comes with rigorous regulatory oversight. By leaning into these strengths and innovating alongside FinTechs, banks can remain central to their customers’ financial lives,” says O’Connor.
“Our research shows that the future of banking will likely blend the reliability of traditional institutions with the agility and accessibility of modern FinTech solutions, creating a dynamic ecosystem that meets a diverse set of consumer needs.”

Media Contact

Jonathan O’Connor, Auriemma Group, 1-646-437-6116, jonathan.oconnor@acg.net, www.auriemma.group

View original content:https://www.prweb.com/releases/auriemma-group-uncovers-whether-stored-value-accounts-are-a-replacement-to-traditional-banking-302316988.html

SOURCE Auriemma Group

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6D Technologies Recognized as ‘Best of IT Service Excellent Gold Partner of the Year’ at Smartfren Awards 2024

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November 27, 2024

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BENGALURU, India, Nov. 27, 2024 /PRNewswire/ — 6D Technologies is honored to announce its receiving of the ‘Best of IT Service Excellent Gold Partner of the Year’ at the prestigious Smartfren Awards 2024. This recognition highlights 6D Technologies’ relentless commitment to delivering innovative and impactful IT solutions that drive success for Smartfren and its customers.

6D Technologies’ partnership with Smartfren spans multiple years of collaboration, innovation, and shared growth. By consistently delivering customized solutions and exceptional service, 6D Technologies and Smartfren have become trusted partners in their journey of digital transformation. 

“We are incredibly proud to be recognized as the ‘Best of IT Service Excellent Gold Partner of the Year’. This award reflects our commitment to fostering strong partnerships and providing groundbreaking solutions that empower our clients to lead in a digital-first world. Thank you, Smartfren, for this esteemed recognition. Together, we continue to set benchmarks for innovation and excellence!” said Abhilash Sadanandan, Co-Founder and CEO of 6D Technologies. 

About Smartfren Awards

The Smartfren Awards celebrate outstanding achievements and partnerships that propel the company’s mission of innovation and excellence. This annual event acknowledges the critical contributions of partners who share a vision for driving progress and enriching customer experiences. 

About 6D Technologies

6D Technologies is a global leader in digital transformation solutions, offering cutting-edge technologies in areas like digital BSS, AI, IoT, Digital Financial Solutions, and more. With a customer-first approach and a proven track record, 6D Technologies empowers enterprises to navigate the complexities of today’s digital landscape and achieve sustainable growth.

 

SOURCE 6D Technologies

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