Global LiDAR market set to reach $2.42b in 2024

New research has found that the global LiDAR sensor market could grow to a value of US $7.95b by 2034.

According to Fact.MR, the 2024 market is anticipated to reach a value of US $2.42b, reflecting a CAGR of 14%.

“Growing demand for LiDAR sensors in autonomous and connected cars and advancements in vehicle automation are projected to drive market expansion in the coming decade,” said a Fact.MR analyst.

“Their applications in meteorology are expanding to make accurate weather predictions.

“Market players are focusing on developing cost-effective technologies, thus contributing to their growing significance.” 

The global LiDAR sensor market is highly competitive. To find out more about the research and trends shaping the market, click here.