The efficient remote sensing technology lidar is the core of autonomous driving and other future technologies. With applications in promising industries such as autonomous vehicles and augmented reality, Wall Street analysts expect lidar stocks Ouster (OUST) and Velodyne Lidar (VLDR) to generate substantial gains in the near term. Read on for a closer evaluation of these names.Light Detection and Ranging (LiDAR) has applications in various fields, such as autonomous vehicles, scanners, and augmented reality (AR). With the Biden administration’s desire to have 50% of cars fueled by electricity to reduce pollution, the lidar market could gain significantly from greater automation. The rising adoption of lidar technology amid the fourth industrial revolution should drive the industry’s growth over the long term. The lidar market is expected to grow at a 22.7% CAGR to $6.71 billion by 2026.
With the rising popularity of lidar technology, particularly in the autonomous vehicles industry, Wall Street analysts predict the shares of lidar companies Ouster, Inc. (OUST) and Velodyne Lidar, Inc. (VLDR) will double in price in the near term.
Ouster, Inc. (OUST)