Automotive LiDAR Market Will Grow Due To The Increasing Demand For Advanced Safety Features
The global Automotive LiDAR Market size is expected to value at USD 223.2 million by 2024. The market is subject to witness a substantial growth due to the increasing demand for advanced safety features in both lightweight and heavyweight vehicles, and mandatory administrative regulations for incorporation of safety measures such as AEB braking systems installations, majorly in the developed economies such as U.S. and the UK. Rise in the integration of safety systems in both autonomous and semi-autonomous vehicles owing to increasing demand from end-user is expected to drive the growth of automotive LiDAR market over the forecast period. High-end demand for automation in booming automobile industry at various levels of vehicle production is expected to draw huge investment from industry participants, thereby propelling market growth across the globe in the years to come. Globally, the automotive LiDAR industry is predicted to grow at higher CAGR in the forecast period, providing ...