10 Best LiDAR Stocks to Buy Now\n\nThe automotive industry is rapidly evolving, with a focus on autonomous driving and electric vehicles. This has led to a surge in demand for LiDAR technology, which provides precise and accurate 3D representations of the environment. We will discuss 10 of the best LiDAR stocks to buy now, based on data from Insider Monkey’s database of 910 leading hedge funds.\n\nAllegro MicroSystems, Inc. (NASDAQ:ALGM), Luminar Technologies, Inc. (NASDAQ:LAZR), and Ouster, Inc. (NYSE:OUST) are among the top LiDAR stocks worth considering. These companies have seen significant growth in recent years, driven by the increasing demand for LiDAR technology in the automotive sector. In fact, according to a report by McKinsey, autonomous driving has the potential to add $300 billion to $400 billion to the revenue of companies operating in this sector by 2035.\n\nOther companies worth considering include Amazon.com, Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOG), and NVIDIA Corporation (NASDAQ:NVDA), which have all introduced self-driving cars. These companies are also investing heavily in LiDAR technology, further highlighting its potential for growth.\n\nThe worldwide LiDAR market was assessed at $1.81 billion in 2021 and is projected to experience a CAGR of 9.8% from 2022 to 2030, according to a report by GrandViewResearch. This growth is primarily attributed to the rising utilization of aerial mapping devices. \n\n The automotive industry’s focus on autonomous driving and electric vehicles has led to a surge in demand for LiDAR technology. This presents opportunities for investors, and we have compiled a list of the 10 best LiDAR stocks to consider, based on data from Insider Monkey’s database of 910 leading hedge funds.
“10 Best LiDAR Stocks to Buy Now\n\nThe automotive industry is rapidly evolving, with a focus on autonomous driving and electric vehicles. This has led to a surge in demand for LiDAR technology, which provides precise and accurate 3D representations of the environment. We will discuss 10 of the best LiDAR stocks to buy now, based on data from Insider Monkey’s database of 910 leading hedge funds.\n\nAllegro MicroSystems, Inc. (NASDAQ:ALGM), Luminar Technologies, Inc. (NASDAQ:LAZR), and Ouster, Inc. (NYSE:OUST) are among the top LiDAR stocks worth considering. These companies have seen significant growth in recent years, driven by the increasing demand for LiDAR technology in the automotive sector. In fact, according to a report by McKinsey, autonomous driving has the potential to add $300 billion to $400 billion to the revenue of companies operating in this sector by 2035.\n\nOther companies worth considering include Amazon.com, Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOG), and NVIDIA Corporation (NASDAQ:NVDA), which have all introduced self-driving cars. These companies are also investing heavily in LiDAR technology, further highlighting its potential for growth.\n\nThe worldwide LiDAR market was assessed at $1.81 billion in 2021 and is projected to experience a CAGR of 9.8% from 2022 to 2030, according to a report by GrandViewResearch. This growth is primarily attributed to the rising utilization of aerial mapping devices. \n\n The automotive industry’s focus on autonomous driving and electric vehicles has led to a surge in demand for LiDAR technology. This presents opportunities for investors, and we have compiled a list of the 10 best LiDAR stocks to consider, based on data from Insider Monkey’s database of 910 leading hedge funds.”$INVZ2023-12-14T09:50:43.520Z
