With the rise of autonomous driving, lidar has become a cutting-edge sensor technology that allows self-driving vehicles to perceive the environment. Choosing the right lidar company to invest in is crucial as the lidar industry grows rapidly. This article summarizes 3 leading lidar companies with huge growth potential for investors. The 3 promising lidar companies are Velodyne Lidar, Innoviz Technologies and Luminar Technologies. They are industry leaders with advanced lidar products, expanding partnerships, and long-term prospects in the autonomous driving market. By comparing their technological advantages, financial performance and future outlook, investors can gain valuable insights to make informed decisions when investing in lidar companies.
Velodyne Lidar excels in mechanical lidar and perception software
Founded in 1983, Velodyne Lidar is a pioneer in 3D lidar sensors. It went public in 2020 and has a long list of automotive partners. Velodyne is focused on high-performance mechanical lidar sensors for advanced driver assistance systems (ADAS) and autonomous vehicles. Its unique micro-lidar array architecture (MLA) provides superior real-time 3D vision and object classification. Velodyne aims to produce lidar solutions suitable for Level 3 to Level 5 autonomous driving. It reported revenue of $11.5 million in Q3 2022. Although facing competition from new players, Velodyne has rich experience, patented technologies and strong perception software for point cloud processing. If Velodyne can upgrade products to meet automakers’ cost targets, it will maintain strength in mechanical lidar.
Innoviz Technologies excels in MEMS solid-state lidar and perception software
Founded in 2016, Innoviz Technologies is an Israel-based lidar startup. It specializes in MEMS solid-state lidar products. Unlike mechanical lidar using rotating parts, Innoviz’s lidar has no moving parts and offers better durability. Innoviz’s perception software InnovizPro provides accurate 3D mapping and object classification. Its MEMS solid-state lidar InnovizTwo delivers performance needed by Level 3 autonomous driving. Innoviz has won several major supply deals from automakers and tech firms. Its revenue was $2.9 million in Q3 2022 and is expected to grow rapidly. With patented solid-state lidar designs and perception algorithms, Innoviz has the potential to be a key player in the lidar market.
Luminar Technologies excels in long-range lidar and software
Founded in 2012, Luminar Technologies is another leading lidar startup based in the U.S. It specializes in developing high-performance long-range lidar and perception software. Its flagship product Iris has industry-leading range of 500 meters and resolution. Luminar has won major production deals from global automakers for hands-free highway driving. Its Q3 2022 revenue reached $12.8 million. Luminar aims to enable autonomous driving on highways and cities cost-effectively. With its advanced lidar hardware and perception software, Luminar is poised to gain significant market share as autonomous driving advances to higher levels.
In conclusion, Velodyne Lidar, Innoviz Technologies and Luminar Technologies are 3 leading lidar companies with strong technological advantages and future growth potential. Investors may consider their product competitiveness, financial status and business partnerships when investing in the promising lidar industry.