- ResearchAndMarkets forecasts a 21.7% CAGR for the global lidar market to reach $3.74 billion by 2026
- Cepton won the largest auto industry lidar contract to date from General Motors, which will use Cepton products in its Ultra Cruise package
- Cepton is well funded after its IPO and is in negotiations with world’s leading auto OEMs, as well as over 120 companies regarding Smart Infrastructure
When carmakers are adding hardware technology to a vehicle even though current software isn’t there yet to maximize the capability, a change is in the works. That’s what is happening with lidar, an acronym for light detection and ranging, that is becoming commonplace in advanced driving assistance systems (“ADAS”) with plans for mass market use one day in autonomous driving. According to Jun Pei, CEO of Cepton (NASDAQ: CPTN), that day is drawing closer, evidenced by widespread adoption by the world’s biggest car brands and Cepton’s support of General Motors’ (NYSE: GM) Ultra Cruise program, that we will see lidar in millions of cars.
In its latest industry report, ResearchAndMarkets.com estimated the global lidar market at $1.4 billion in 2021 and experiencing 21.7% compound annual growth, which will result in a…
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