The LiDAR market is expected to witness significant growth in the near future, due to the consistent growth of autonomous vehicles. According to a report by Precedence Research , the global automotive LiDAR market is expected to expand at a CAGR of 28.5% during the period 2021-2030 and is estimated to be worth approximately USD 4.5 billion by 2030 , as shown i venezuela phone number list n Figure 9 . Currently, the automotive LiDAR market is dominated by the US, with the US playing a significant role in this technology .
Vehicle Performance
Figure 9: LiDAR market in priority research 2021-2030
According to Global Market Insights , the LiDAR market is set to witness 80% growth in the Asia-Pacific region by 2032 , due to the increasing investments and R&D activities in this geographical region-lidar-market . Countries such as China, Japan, and South Korea, due to their high market share ( figure 10 ), are expected to play a dominant role in this region in the near future .
The Role of LiDAR in Improving Autonomous Vehicle PerformanceFigure 10: Automotive LiDAR Market in Asia-Pacific, 2032