Light detection and ranging (LiDAR) technology creates a three-dimensional visual image, utilizing a high-intensity laser tool, micro-electro-mechanical system (MEMS), and GPS transceiver. This game-changing technology is expected to face strong demand across different industries, including automotive, healthcare, aerospace & defense, IT, and others.
Fortune Business Insights report shows that the global LiDAR market should grow at a CAGR of 22.7% between 2019 and 2026, reaching $6.71 billion in the terminal year, driven by the increasing demand for Lidar from Unmanned aerial vehicles (UAVs) and autonomous vehicles.
