LiDAR is among the key sensor technologies underpinning the automotive industry’s quest to make fully autonomous vehicles (AVs) a reality. Capable of creating 3D digital representations of a vehicle’s environment, LiDAR is invaluable for obstacle detection and safe navigation.
Grand View Research estimates the technology’s global market value will rise 160% from US$1.8bn in 2021 to US$4.7bn in 2030. Some LiDAR manufacturers, such as Innoviz, go so far as to suggest that the sensors’ proliferation will underpin future growth and consumer trust in AVs. However, notable detractors like Tesla Chief Executive Elon Musk continue to dismiss LiDAR’s importance in favour of alternatives. ”LiDAR is a fool’s errand,” he told attendees of Tesla’s first Autonomy Day in April 2019.
