UNBELIEVABLE: This self driving car stock just got a major vote of confidence | History Defined

Light detection and ranging (LiDAR) technology is one of the core components of autonomous vehicl development. LiDAR uses laser precision to map surroundings and detect obstacles in real-time. In fact, it is often the backbone of self-driving vehicles, enabling them to safely navigate roads by identifying other cars, pedestrians, and potential hazards with accuracy. 

Thanks to the soaring interest and investments in self-driving technology, the global LiDAR market is on the fast track for massive growth. Projections call for this market to surge from just $2.9 billion in 2025 to a staggering $15.8 billion by 2034, expanding at an impressive CAGR of 20.9%. As competition heats up in this critical, fast-evolving market, one early pioneer is Luminar Technologies (LAZR).