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LiDAR market to be worth over $2 billion by 2024 as more uses emerge

iPad Pro 2020 Lidar Measure App Hero
iPad Pro 2020 Lidar Measure App Hero (Image credit: Rene Ritchie / iMore)

What you need to know

  • LiDAR technology is tipped to take off this year.
  • A DigiTimes report suggests the market could be worth $2.273 billion in 4 years.
  • A LiDAR scanner features in Apple's new iPad Pro, and could appear in the next iPhone.

A report from DigiTimes claims that LiDAR technology may take off over the next few months, and that the industry could be worth over $2 billion by 2024.

According to the report:

Global demand for LiDARs for use in ADAS (advanced driver assistance system), autonomous vehicles, drones and construction engineering is going to take off along with continued improvement in performance and reduction in production cost, according to Taiwan's Photonics Industry & Technology Development Association (PIDA).The global LiDAR market value will rise from US$844 million in 2019 to US$2.273 billion in 2024 at a CAGR of 18.5%, PIDA indicated.For automotive application, LiDARs still have issues, including components' sensitivity to vibration, heat and low temperatures, PIDA said. The conventional mechanical swivel design also makes it complicated for production and requires large dimensions, which results in high production costs, PIDA said.

A LiDAR scanner features in Apple's new iPad Pro, and is highly tipped to bring vast improvements to the AR capabilities of the device. It has also been suggested that Apple may include LiDAR in the 'Pro' models of the iPhone 12.

It's very cool to see how, as this technology becomes more mainstream, uses for LiDAR could extend into the world of autonomous vehicles, constructing and drone use, as well as in Apple's mobile tech.

What is LiDAR, and why do I want it in my iPad?

Stephen Warwick
Stephen Warwick

Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.

Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple.