The global market for passenger vehicle LiDAR is poised for significant growth in 2024, anticipated to reach a valuation of $692 million, marking a robust 68% increase from the previous year. Notably, China commands an overwhelming share of 92% in this domain. RoboSense stands out as the industry leader, holding a substantial 26% market share, having sold 519,800 units annually and forged partnerships with 30 vehicle manufacturers. Hesai Technology and Huawei trail closely behind, securing market shares of 22.77% and 21.09%, respectively.
