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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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Technology

PDRL Partners with Digital Quantum to Accelerate AeroMegh GeoAI’s Digital Transformation in Drone Technology

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PDRL and Digital Quantum Unite to Drive Innovation and Expand the AeroMegh GeoAI Ecosystem

NASHIK, India, Nov. 27, 2024 /PRNewswire/ — PDRL, a leader in drone technology solutions, is thrilled to announce its partnership with Digital Quantum, a global technology consulting firm specializing in digital transformation. This strategic collaboration is set to enhance the capabilities of PDRL’s AeroMegh GeoAI platform, delivering next-generation digital solutions to a wider audience in the rapidly expanding drone industry.

About Indian GIS Industry 2024

The Indian Geographic Information System (GIS) industry in 2024 is experiencing substantial growth, fuelled by advancements in digital transformation and the increased adoption of drone and satellite technologies across sectors like agriculture, urban planning, infrastructure, and disaster management. Government initiatives, including the Digital India program, Smart Cities Mission, and the Geospatial Data Policy, have strengthened the GIS ecosystem, encouraging both innovation and cross-sector adoption of GIS-driven solutions. As cloud-based, AI-driven, and real-time GIS solutions become more prominent, the industry is evolving to support accurate, on-demand data and dynamic decision-making. Partnerships, such as that of PDRL and Digital Quantum, are pivotal in driving this growth by bringing advanced technology and streamlined data capabilities to the forefront.

About AeroMegh, A GeoAI Platform

AeroMegh combines pioneering AI and GIS technologies to enhance drone operations, geospatial intelligence, and data analytics. Its capabilities include comprehensive GIS features for data processing, importing, and workflow integration through APIs, allowing users to efficiently manage geospatial data and generate actionable insights. The platform’s AI-powered features deliver advanced image and video analytics, automating processes such as object detection and annotation to streamline aerial data analysis. AeroMegh also supports LiDAR integration and photogrammetry for high-precision mapping and 3D modeling, enabling applications in agriculture, construction, and urban planning. Collaboration features, including role-based access and real-time interaction, ensure seamless teamwork and data sharing, making it ideal for industries seeking unified solutions for drone missions and geospatial intelligence.

Driving Digital Transformation with AeroMegh GeoAI

Digital Quantum, renowned for its expertise in technology integration and digital transformation, enables organizations to adopt innovative, experience-led solutions for enhanced operational efficiency and growth. Through this partnership, AeroMegh GeoAI, a comprehensive platform for drone operations, data processing, and analytics will leverage Digital Quantum’s customer-centric design and advanced digital solutions. Together, they aim to streamline drone operations and data analytics across diverse industries such as agriculture, infrastructure, mining and more.

Digital Quantum’s unique approach combines design thinking with advanced technologies to deliver scalable, customer-centered solutions that will empower AeroMegh GeoAI to meet the evolving needs of India’s booming GIS industry. By utilizing Digital Quantum’s capabilities, AeroMegh GeoAI is set to expand its reach, enabling organizations to fully harness the potential of drone technology for accurate, data-driven decision-making.

Meeting the Needs of India’s Evolving GIS Landscape

In an era where GIS technology is reshaping industries, this partnership will enable AeroMegh GeoAI to evolve continuously, aligning with the dynamic demands of the GIS and drone technology sectors in India. With PDRL and Digital Quantum working together, the AeroMegh GeoAI ecosystem is poised to provide accessible, impactful digital transformation for businesses across sectors.

Anil Chandaliya, CEO, PDRL: “Our partnership with Digital Quantum comes at a pivotal moment in India’s GIS industry, where digital transformation and drone technology are rapidly converging. Together, we aim to drive innovation in AeroMegh GeoAI, empowering industries with groundbreaking capabilities.”

Amitabh Shukla, CEO, Digital Quantum: “We are excited to partner with PDRL and support AeroMegh GeoAI in advancing India’s GIS landscape. Our expertise in digital innovation and customer-focused solutions aligns perfectly with PDRL’s vision, and we look forward to redefining the drone technology landscape together.”

By joining forces, PDRL and Digital Quantum are poised to reshape the GIS and drone technology landscape, positioning AeroMegh GeoAI at the forefront of digital transformation and empowering industries across India to embrace a future of data-driven innovation and precision.

About PDRL:

Established in 2018, PDRL has swiftly risen as a dominant force in the Drone Technology, commanding a market share exceeding 50%. With three patents secured and three more in the pipeline, PDRL is committed to pioneering advancements that Create More Time to Live.

Central to PDRL’s mission is the development of cutting-edge drone technologies that streamline operations, boost efficiencies, and create more time to live.

At the heart of PDRL’s innovation is AeroMegh, a revolutionary drone SaaS solution integrating flight management, data capture, processing, and analytics. AeroMegh consists of: AeroGCS: Ensures seamless flight operations, AeroMegh GeoAI platform: Delivers precise photogrammetry solutions and provides advanced GeoAI data analytics. Together, these products empower users with actionable insights, simplifying drone operations and enhancing overall efficiency.

PDRL remains steadfast in its commitment to sustainability and responsible innovation. By leveraging eco-friendly drone solutions, PDRL aims to mitigate carbon footprints and promote environmentally conscious practices across various sectors.

Through continuous research and development, strategic partnerships, and unwavering customer focus, PDRL envisions leadership in the market and also a future defined by efficiency, sustainability, and enduring societal impact.

Contact Details: 
marketing@pdrl.in | +91-7770013322

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Science Meets Romance: Chemical Engineer Caryn Davis is Flipping the Script and Helping People Find Their Ultimate Chemistry

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Caryn Davis, founder of Exquisite Elite Matchmaking, blends science, expertise, and a personal touch to help busy professionals find lasting love and connection.

HOUSTON, Nov. 26, 2024 /PRNewswire/ — In a world where the complexities of love often rival the intricacies of science, one woman is bringing precision and expertise to the realm of relationships. Caryn Davis, a chemical engineer turned Certified Science-Based Dating Coach and Matchmaker, is using her personal experiences to redefine modern dating.

As the founder of Exquisite Elite Matchmaking, Davis blends her certified training, of what keeps couples together and what breaks them a part, along with a personal touch to help busy professionals find meaningful, long-term relationships. Drawing from her background in chemical engineering and an MBA, she uniquely combines logic and intuition to match clients based on physical attraction (i.e., no blind dates), compatibility, shared values, and relationship goals. Davis relates to her clients in the dating world because she knows what it feels like to be single, married, and divorced. Recognizing the challenges professionals face in finding genuine connections amidst hectic schedules, she decided to create a solution in a stress-free and relaxing manner. That solution became Exquisite Elite Matchmaking, a bespoke service that caters to men from their late 20s to mid 60s primarily in Texas (plans to expand in other states in the future) and offers date coaching to women nationwide.

Empowering BUSY Professionals Through Connection

Beyond the personal impact of her work, Davis is committed to helping BUSY professionals build meaningful relationships. Her approach focuses on addressing the unique challenges they face in dating, ensuring they find partners who complement their goals and values. Davis emphasizes that dating is an opportunity for individuals to grow, connect, and build a foundation for lasting happiness. She acknowledges that while BUSY professionals often excel in their careers, they may struggle to prioritize love, and she helps them bridge that gap with tailored strategies and guidance.

She understands her client’s needs, so she can find partners who genuinely complement them. Her holistic process includes personalized assessments, coaching sessions, and image consultations. As a licensed cosmetologist, she ensures her male and female clients present themselves in their best light. Although her background is in a STEM profession, her clientele have various professional backgrounds, approximately 40% STEM Professionals and 60% Business, Non-Profits, Education, Entrepreneurship, etc.

Exquisite Elite Matchmaking: A Cut Above the Rest

Exquisite Elite Matchmaking is more than just a matchmaking service; it’s a transformative experience. Davis takes pride in tailoring her services to each client’s unique needs, offering:

Personalized Matches: Based on physical attraction, compatibility, values, and goals.Date Coaching: Strategies to improve communication, self-growth, and connection.Image Consulting: Style tips to make lasting impressions.

This approach has earned Davis a reputation as a leader in modern matchmaking, providing a fresh, results-driven perspective on relationships.

Looking to the Future

As the holiday season approaches, Davis is dedicated to helping clients embrace love as a priority. Her matchmaking process inspires hope for those seeking genuine, lasting relationships by providing practical tools and a personalized approach. Drawing from her background as a chemical engineer, Davis applies her problem-solving mindset to help individuals find happiness in their personal lives. Her unique formula for success continues to pave the way for meaningful connections and enduring relationships.

For media inquiries, or to schedule an interview with Caryn Davis—please contact Innovating Marketing Group at info@innovatingmarketinggroup.com or call 346-980-9062.

About Exquisite Elite Matchmaking

Caryn Davis is the founder of Exquisite Elite Matchmaking, a Certified Science-Based Dating Coach, and Matchmaker. With a background in chemical engineering and an MBA, Davis blends her professional expertise with personal experience to help clients find meaningful relationships. Her work for her clients emphasizes compatibility and personal growth.

Press Contact:

LaToya F Hurley
3469809062
http://www.InnovatingMarketingGroup.com

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JOYY Reports Net Profit of US$60.6 Million, Share Buybacks Surpass US$117.8 Million in Q3

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SINGAPORE, Nov. 26, 2024 /PRNewswire/ — JOYY Inc. (NASDAQ: YY) (“JOYY” or the “Company”), a global leading technology company, announced its unaudited financial results for the third quarter of 2024.

For the third quarter, JOYY’s revenue reached US$558.7 million, while the Company’s core business segment, BIGO, generated revenues of US$496.0 million. JOYY’s GAAP and non-GAAP operating income[1] were US$16.4 million and US$34.9 million, respectively, up by 623.5% and 16.4% on a quarterly basis. JOYY recorded a net profit and non-GAAP net profit[1] of US$60.6 million and US$61.2 million, for a GAAP and non-GAAP net margin[1] of 10.8% and 10.9%, respectively. BIGO’s GAAP and non-GAAP operating income[1] reached US$62.7 million and US$72.9 million, respectively, marking sequential increases of 8.2% and 5.0%. The Company sustained its positive operating cash flows, generating US$61.1 million in the third quarter.

During the third quarter, JOYY actively advanced shareholder returns by buying back an additional US$117.8 million worth of its shares. During the first three quarters of 2024, the Company has repurchased 7.31 million of its ADSs for a total of US$243.7 million, demonstrating confidence in the company’s long-term prospects.

Ms. Ting Li, Chairperson and Chief Executive Officer of JOYY, commented, “We continued to execute effectively on our strategic priorities during the third quarter, cultivating our global social and content ecosystem, and enhancing our global operational capabilities and efficiencies, which yielded solid results. Our group’s GAAP and non-GAAP operating income were US$16.4 million and US$34.9 million, respectively, up by 623.5% and 16.4% on a quarterly basis. During the third quarter, we continued to cultivate long-term initiatives that will further diversify our revenue streams. Our Group non-livestreaming revenue grew by 13.1% to US$119.2 million quarter over quarter, contributing 21.3% of total revenues. Looking ahead, we remain focused on enhancing user experiences through product innovation, further diversifying our revenue streams, and advancing operational excellence across our global footprint. Supported by our strong cash flow and healthy financial position, we are well-positioned to deliver sustainable, profitable growth and create enduring value for our shareholders.”

Third Quarter 2024 Financial Highlights

Net revenues in the third quarter of 2024 were US$558.7 million.Net income attributable to controlling interest of JOYY was US$60.6 million in the third quarter.Non-GAAP net income[1] attributable to controlling interest and common shareholders of JOYY was US$61.2 million in the third quarter.

Third Quarter 2024 Business Highlights

In the third quarter, Bigo Live sharpened its operational strategy by prioritizing advertising investments and operational resources toward developed countries and premium users, and simultaneously enhanced its content quality and social experiences to drive long-term user monetization potential. This targeted approach yielded strong results in core developed countries, where MAUs grew 3.4% year over year and 3.7% quarter over quarter, and paying users increased 9.1% year over year. Bigo Live also achieved encouraging momentum in the Middle East, where its revenue increased 5.6% sequentially.

To further enhance its global content and social ecosystem, Bigo Live implemented a series of upgrades to boost the creation, quality, and distribution of content on its platform. For example, Bigo Live fine-tuned its content recommendation algorithms to better facilitate content sharing within same-language regions and expand cross-regional content flow between highly interactive markets. These enhancements streamlined its cross-regional content delivery and better served users’ growing appetite for global content and social connections.

In the last quarter, Bigo Live successfully hosted the third season of “BIGO’s Most Talented”, featuring categories in Music, Dance and Beauty Pageantry. The event attracted outstanding creators from around the world. Building on previous seasons, the third season introduced a more rounded judging system incorporating key audience engagement metrics. This allowed a seamless merger of interactive livestreaming elements with traditional talent show elements. The event resonated strongly with viewers, amassing an impressive 5.79 million audience votes. Bigo Live also strengthened bonds with its business partners and user community through a series of mid-year galas across Saudi Arabia, Vietnam, Thailand, and the Philippines. These gatherings brought together the cornerstone members of Bigo Live’s ecosystem – top creators, users and partners – to celebrate their achievements and vital contributions to the platform’s progress in the first half of the year.

Bigo Live also further developed its social engagement features, prioritizing improvements to Real Match and messaging functionality. These upgrades drove deeper user connections and more efficient follow conversions. Notably, Real Match’s average DAU penetration rate increased significantly to 23.4%, while the number of direct chat messages rose by 15.9% from the previous quarter. Bigo Live also achieved a 4.3% rise in average new follows per user. By directing traffic to premium hosts and upgrading interactive features, Bigo Live boosted creator participation and user engagement in multi-guest rooms. Bigo Live achieved a 3.9% sequential increase in the penetration rate of streamers in multi-guest rooms, alongside a 3.6% sequential increase in the overall rate of users going live as guest speakers.

Likee remains rooted in the Middle East and European markets, where it continues to build momentum and enhance monetization across both livestreaming and advertising. As a result, Likee’s advertising revenue grew 33.4% year over year in the third quarter, and Likee maintained its profitability.

During the quarter, Likee elevated its user experience across its core markets through enhanced content quality, interactivity, and community engagement. A standout community-building initiative was its August music festival tour across five European cities, which brought together Likee’s top creators, including music bloggers and dance groups, alongside established performers and celebrities. This unique event delivered an unprecedented interactive experience for the Likee community. In September, Likee served as the official media partner for Phygital Games 2024, providing eight days of livestreaming coverage to immerse users in the competitive prowess of top athletes in digital football, basketball, laser shooting, and simulated dance. Likee’s expanded premium content offerings and content diversity drove a 12.3% quarter-over-quarter increase in users’ video time spent.

In the third quarter, Hago’s targeted incentive strategy across different paying user segments drove improved monetization metrics. This strategy resulted in positive momentum in both its paying users and ARPPU, with its revenue growing 6.1% quarter over quarter. Hago maintained a positive operating cash flow in the third quarter, and its operating losses further narrowed. Hago’s social engagement metrics also remained strong, with average time spent in social channels increasing 2.5% quarter over quarter to 105.8 minutes, and next-day retention rates showing sustained improvement.

[1]. For details of the non-GAAP measures, including the reconciliations of GAAP measures to non-GAAP measures, please refer to the press release titled “JOYY Reports Third Quarter 2024 Unaudited Financial Results” issued by the Company on November 27, 2024.

 

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