Light detection and ranging (LiDAR) technology is a remote sensing method that uses light in a pulsed laser form to measure variable distances. The rising demand for autonomous vehicles and extensive urbanization have boosted the need for LiDAR technology.
LiDAR sensors are crucial for advanced driver-assistance systems, environmental mapping, and 3D-modeling applications. Moreover, increasing investments in developing newer products based on LiDAR technology are expected to drive the industry’s growth. According to a report by Grand View Research, the global LiDAR market is expected to grow at a CAGR of 9.8% by 2030.
