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Lidar Market Trends and Investment Opportunities - A 2030 Trajectory Outlook

The lidar market is a rapidly ascending sector projected to touch the stellar height of a $7 billion market value by 2030. Registering an impressive compound annual growth rate (CAGR) of 22% from 2023 to 2030, lidar, or light detection and ranging technology, is increasingly gaining traction across numerous industries such as automotive, transportation, construction, and environmental monitoring, among others. Thanks to its high-performing attributes, lidar technology is fast becoming the go-to option for various sectors.

The automotive industry, a significant catalyst for the lidar market, is witnessing an upswing in demand for advanced safety mechanisms and autonomous driving technologies. This development is propelling the lidar market's growth trajectory, with the automotive lidar market predicted to surpass the $2.4 billion mark by 2030, exhibiting a robust CAGR of 23% between 2023 and 2030. Advancements in automobile technologies and the increasing adoption of self-driving vehicles underscore the growing demand for lidar sensors in the automotive industry.

As of now, North America leads the pack in the lidar market share, with Asia-Pacific hot on its heels, projected to experience the fastest CAGR due to its escalating investments in infrastructure development and tech advancements. The solid-state lidar segment represented over half the market in 2023, with the mobile segment expected to display the highest CAGR of 27% from 2023 to 2030. Key players in the lidar market space, including Velodyne Lidar, Inc., Cepton Inc., Leica Geosystems AG and RIEGL Laser Measurement Systems GmbH among others, are constantly innovating to introduce advanced lidar solutions, meet growing demand, and solidify their market standing.

Market Movements & Trends:

Lidar Market Unwinded Trends

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