The Global Automotive LiDAR Market size was valued at around USD 510 million in 2023 & is estimated to grow at a CAGR of around 18.5% during the forecast period, 2024-30. The primary growth for the market is due to the increasing adoption and evolution of autonomous vehicles. Usually, companies use various sensors and radars to get the spatial representation of the surrounding environment of the automobile. But with the technological advancement in LiDAR technology which is capable of generating a high-quality mapping of the environment has greatly improved the reliability and safety of autonomous and semi-autonomous vehicles.
– Recent Report by MarkNtel- Automotive LiDAR Market Size, Trend, Share & Growth Report – 2030