Automotive LiDAR Market: Size, Growth, Share, Trends, Forecast
The worldwide automotive LiDAR market size was valued at US$ 430 million in 2020, and industry experts anticipate a significant upturn. The market's value is projected to soar to US$ 3 billion by the end of 2031. This remarkable growth can be attributed to the increasing demand for automotive Light Detection and Ranging (LiDAR), which is expected to demonstrate a remarkable Compound Annual Growth Rate (CAGR) of 19.5% over the coming decade.
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