Published on 21 Sep 2024 on Insider Monkey · via Yahoo Finance

Is Ouster, Inc. (OUST) a Good Lidar Stock To Buy?

We recently compiled a list of the 10 Best Lidar Stocks To Buy Now. In this article, we are going to take a look at where Ouster, Inc. (NYSE:OUST) stands against the other Lidar stocks.

The global lidar sensor industry is quite sizeable. According to research from McKinsey & Well, the sector was worth $2.5 billion in 2022 and is estimated to grow at a compounded annual growth rate (CAGR) of 10.3% to be worth $5.4 billion by 2030 end. This research report is important because it sheds light on one of the most under reported use cases of lidar. While most media coverage focuses on mobility and terrestrial lidar applications, McKinsey & Well shares that the airborne lidar market is expected to outpace the broader industry in growth terms through a CAGR of 10.9%. Geographically, while the US lidar sensor market was estimated to be worth $672 million in 2022, China will outpace the industry's growth. The Asian country's market is estimated to grow at a rate of 15.3% and sit at $1.3 billion by 2030 end.