LiDAR market to be worth over $2 billion by 2024 as more uses emergeThose include autonomous vehicles, drones, and construction engineering.
What you need to know
LiDAR technology is tipped to take off this year.
A DigiTimes report suggests the market could be worth $2.273 billion in 4 years.
A LiDAR scanner features in Apple's new iPad Pro, and could appear in the next iPhone.
A report from DigiTimes claims that LiDAR technology may take off over the next few months, and that the industry could be worth over $2 billion by 2024.
According to the report:
Global demand for LiDARs for use in ADAS (advanced driver assistance system), autonomous vehicles, drones and construction engineering is going to take off along with continued improvement in performance and reduction in production cost, according to Taiwan's Photonics Industry & Technology Development Association (PIDA).
The global LiDAR market value will rise from US$844 million in 2019 to US$2.273 billion in 2024 at a CAGR of 18.5%, PIDA indicated.
For automotive applicatio...
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LiDAR market to be worth over $2 billion by 2024 as more uses emerge
