7 Top Lidar Stocks for 2024

There is time for everything in our galaxy. And this time, on this planet, is the time for the autonomous vehicle technology market to pop like a pop rocket.

LiDAR technology, an acronym for “light detection and ranging”, is increasingly being adopted in the development of autonomous vehicles and this increasing adoption has turned the LiDAR market into a very hot market at the moment.

The technology uses laser pulses to build a 3D model of the environment around the autonomous vehicle, helps it navigate smoothly and avoid collisions by detecting different kinds of physical obstructions ahead.

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According to marketsandmarkets, “The LiDAR market is projected to reach USD 2.8 billion by 2025 from an estimated USD 1.1 billion in 2020, at a CAGR of 20.7% from 2020 to 2025”.

The relatively high and promising growth rate of the LiDAR market is also supported by its adoption in other areas of application beyond its use in autonomous vehicles.

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The technology is being adopted in geographical information systems, commercial drones, and engineering and construction applications among numerous others.

If you’re interested in investing in autonomous vehicle growth stocks, here are 8 LiDAR Stocks:

1. Luminar Technologies Inc (NASDAQ: LAZR)

Luminar Technologies, Inc. operates as a vehicle sensor and software company for passenger vehicles and trucks.

The company operates in two segments, Autonomy Solutions and Other Component Sales.

  • The Autonomy Solutions segment designs, manufactures, and sells lidar sensors, and related perception and autonomy software solutions for original equipment manufacturers in the automobile, commercial vehicle, robo-taxi, and other related industries.
  • The Other Component Sales segment engages in the designing, testing, and consulting of non-standard integrated circuits for government agencies and defense contractors.

The company was founded in 2012 and is headquartered in Orlando, Florida.

2. Hesai Technology (NASDAQ: HSAI)

Hesai Technology is a global leader in three-dimensional light detection and ranging (LiDAR) solutions.

The Company’s LiDAR products enable a broad spectrum of applications across passenger and commercial vehicles with advanced driver assistance systems (ADAS) and autonomous vehicle fleets (autonomous mobility).

Hesai has established strong relationships with leading automotive OEMs, autonomous vehicle, and robotics companies worldwide, covering over 90 cities in 40 countries.

As of December 31, 2022, Hesai has shipped over 100,000 LiDAR units in total.

Hesai Technology is headquartered in Palo Alto, California.

3. Microvision, Inc. (NASDAQ: MVIS)

MicroVision, Inc. develops and sells lidar sensors used in automotive safety and autonomous driving applications.

Its laser beam scanning technology is based on micro-electrical mechanical systems (MEMS), laser diodes, opto-mechanics, electronics, algorithms, and software.

The company’s products are used in interactive and non-interactive projected displays; 3D perceptive light detection and ranging (LiDAR) sensing for consumer electronics; augmented/mixed reality; and 3D Perceptive LiDAR sensing for automotive active collision avoidance systems.

In 2022, MicroVision acquired Ibeo Automotive Systems, another major player in the LiDAR sensor technology market. The acquisition combines MAVIN LiDAR with Ibeo perception software features into the MicroVision ASIC for automotive OEMs.

It sells its products primarily to original equipment manufacturers and original design manufacturers.

MicroVision, Inc. was founded in 1993 and is headquartered in Redmond, Washington.


Valeo SA designs, produces, and sells components, integrated systems, modules, and services for the automotive sector in France, North America, South America, Asia, Africa, and other European countries.

Valeo was the first automotive player to market a laser LiDAR sensor (Valeo SCALA®), that meets the quality and safety criteria of the auto industry.

Today, the company’s LiDAR technology is considered one of the best Advanced Driver Assistance Systems (ADAS) on the market.

Since its launch in 2017, more than 150,000 units of Valeo’s laser LiDAR have been produced.

Valeo has wen recognized by Frost & Sullivan as a pioneer and key player of 3D LiDAR with the 2022 Global Market Leadership Award.

Valeo SA was founded in 1923 and is headquartered in Paris, France.

5. Aeva Technologies (NYSE: AEVA)

Aeva Technologies, Inc., through its frequency modulated continuous wave (FMCW) sensing technology, designs a 4D LiDAR-on-chip that enables the adoption of LiDAR across various applications.

The company is based in Mountain View, California.

6. Ouster, Inc. (NYSE: OUST)

Ouster, Inc. is a technology company that designs and manufactures high-resolution digital lidar sensors and enabling software that offers 3D vision to machinery, vehicles, robots, and fixed infrastructure assets.

Its product portfolio includes OS, a scanning sensor; and DF, a solid-state flash sensor.

The company established itself as a leader in the LiDAR market after a 2023 merger with another LiDAR powerhouse, Velodyne LiDAR.

The company is based in San Francisco, California.

7. Innoviz Technologies (NASDAQ: INVZ)

Innoviz Technologies Ltd. designs and manufactures solid state LiDAR sensors and develops perception software that enable the mass-production of autonomous vehicles.

The company manufactures InnovizOne and InnovizTwo; cutting-edge, automotive-grade LiDAR sensors that provides superior 3D sensing for Level 3-Level 5 autonomous driving.

Its products can be used in various industries, including robotaxis, shuttles, delivery vehicles, buses, trucking, drones, and robotics, as well as construction, agriculture, smart city, security, mining, maritime, and mapping.

Innoviz Technologies Ltd. was incorporated in 2016 and is headquartered in Rosh HaAyin, Israel.

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