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Which Lidar Stock Is a Better Buy? By StockNews

by Mike Robinson

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© Reuters. Velodyne and Innoviz Technologies: Which Lidar stock is a better buy?

LiDAR, a remote sensing system that is highly efficient and can be used to detect obstacles in the road, forms part of autonomous driving. This application can be found in many industries making Velodyne Lidar and Innoviz Technologies (INVZ), both attractive options today. Which of these names can deliver consistent market-beating gains to investors consistently? You can find out more about LiDAR (or Light Detection & Ranging) technology in this article. It is rapidly gaining popularity in both the autonomous vehicle and verticals like augmented reality. Many electric vehicles (EVs), along with legacy automakers, will use this technology. This makes companies who participate in this market good long-term investments.

According to forecasts, the lidar market could grow at 22.7% per year to reach $6.71 trillion by 2026. This technology may be the key to the Fourth Industrial Revolution, at least for autonomous driving.

With these factors in mind, let’s evaluate which LiDAR stock—Velodyne (VLDR) and Innoviz Technologies (INVZ)—one should buy right now.

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