Global Automated Guided Vehicle Market Forecast to 2032
The global Automated Guided Vehicle (AGV) market size was USD 4.80 Billion in 2022 and is expected to register a steady revenue CAGR of 10.0% during the forecast period, according to the latest analysis by Emergen Research. Increasing usage of AGVs in the e-commerce industry and greater adoption of industry 4.0 technologies are key factors driving market revenue growth.
The top competitors in the market, their goals for business expansion, and their development strategies are all closely examined in the Automated Guided Vehicle Market report. The archive encourages businesspeople to look up information about potential customers and places where they might be located. The review, which only highlights the greatest sellers, can help entrepreneurs find potential customers and discover more about their local market.
Automated Guided Vehicles (AGVs) are used in the e-commerce industry to automate the movement of goods within a warehouse or fulfillment center. AGVs can be used to transport products from storage racks to packing and shipping areas, where an order picker can retrieve items for an order. In addition, AGVs can be used to sort and separate products based on their destination or order type, improving the efficiency of the shipping process.
Industry 4.0 refers to the integration of advanced technologies, such as AGVs and IoT, into traditional factories to create smart manufacturing systems. AGVs can be equipped with sensors that collect data on their performance and send it to a central system via the Internet of Things (IoT). This allows for real-time monitoring of AGV operations and can help identify any issues that need to be addressed. IoT can be used to predict when maintenance is needed by collecting data on AGV performance and usage, which can help prevent downtime and improve the overall efficiency of AGVs. Moreover, IoT can be used to connect AGVs with other systems, such as conveyors, robotics, and other automated equipment, allowing for greater coordination and improved overall efficiency. This is expected to increase demand for AGVs in smart manufacturing and drive revenue growth in the market.
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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Automated Guided Vehicle market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Companies Profiled in the Report are:
Swisslog Holding AG, Egemin Automation Inc., Bastian Solutions, LLC, Daifuku Co., Ltd., Dematic, JBT, Seegrid Corporation, TOYOTA INDUSTRIES CORPORATION, Hyster-Yale Materials Handling, Inc., and BALYO
Research Report on the Automated Guided Vehicle Market Addresses the Following Key Questions:
- Who are the dominant players of the Automated Guided Vehicle market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Automated Guided Vehicle market?
- What are the key growth drivers and restraining factors of the Automated Guided Vehicle market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Automated Guided Vehicle market and its key segments?
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Some Key Highlights From the Report
- The hardware segment is expected to account for largest revenue share over the forecast period. This is attributed to rising demand for advanced sensors such as Laser sensors, image sensors, and others in AGVs.
- The tow vehicle segment accounted for largest revenue share in 2022. This is due to rising demand for small and sophisticated automated tow vehicles using software and sensors to navigate automatically.
- The laser guidance segment accounted for largest revenue share in 2022. This can be attributed to increasing use of laser guidance systems to navigate with higher accuracy and precision.
- The logistics and warehousing segment accounted for largest revenue share in 2022. This is due to increasing popularity of AGVs in logistics and warehousing that can be programmed to perform independently without much human intervention, which in turn, has risen demand for AGVs in logistics and warehouses.
- The wholesale and distribution sector segment is expected to account for highest revenue share over the forecast period. Increasing popularity for new technologies such as Radio-Frequency Identification (RFID) that can be used in AGVs for inventory management.
- The Europe market is expected to account for largest revenue share over the forecast period. This is due to increasing initiatives and conducive policies to facilitate smart manufacturing as well as support from the European Union (EU).
Market Overview:
The report bifurcates the Automated Guided Vehicle market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Component Outlook (Revenue, USD Billion; 2019-2032)
- Hardware
- Software
- Service
- Vehicle Type Outlook (Revenue, USD Billion; 2019-2032)
- Tow Vehicle
- Forklift Truck
- Pallet Truck
- Hybrid Vehicles
- Unit Load Carrier
- Others
- Navigation Technology Outlook (Revenue, USD Billion; 2019-2032)
- Laser Guidance
- Inductive Guidance
- Vision Guidance
- Magnetic Guidance
- Natural Navigation
- Others
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Regional Landscape section of the Automated Guided Vehicle report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
How will this Report Benefit you?
A 250-page report from Emergen Research includes 194 tables and 189 charts and graphics. Anyone in need of commercial, in-depth assessments for the global Automated Guided Vehicle market, as well as comprehensive market segment analysis, can benefit from our new study. You can assess the whole regional and global market for Automated Guided Vehicle with the aid of our recent study. To increase market share, obtain financial analysis of the whole market and its various segments. We think there are significant prospects in this industry for rapidly expanding energy storage technology. Look at how you may utilise the current and potential revenue-generating prospects in this sector. The research will also assist you in making better strategic decisions, enabling you to build growth strategies, strengthen competitor analysis, and increase business productivity.
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