The global automated guided vehicle market size was estimated to be US$ 5.3 billion in 2020 and is expected to reach US$ 15.3 billion by 2031 at a CAGR of 10%. Automated guided vehicles (AGVs) are completely automated vehicle systems that capacity with automated vehicles.
Automated guided vehicles offer a large number of benefits like a decrease in functional expense, improved labor force wellbeing, and decrement underway time. Evolving requirement for robotization in discrete businesses and manufacturing offices is the driving variable for the development of the automated guided vehicle market.
The use of the automated guided vehicle in enterprises and production plants diminishes human endeavors and increment the security of the laborers. The time frame to reach to profit from speculation that is return for capital invested is very long and along these lines automated guided vehicle (AGV) isn't appropriate for transient period. Also, the high support and beginning speculation goes about as significant restriction for the automated guided vehicle market at present. Resulting from fast industrial progressions in advanced mechanics and mechanization, the assembling area has seen expanded reception of advanced mechanics designing and innovation into its production cycle.
Producers are thinking about aspects like weight, direction, speed, accuracy, duty cycle, travel, and climate prior to choosing the robot that will give the best and beneficial outcomes in their industrial plant. Moreover, retail and trade based organizations and social groups are stationing community robots in their stockrooms and extending their organizations through acquisitions of huge scope co-bot suppliers. For example, in November 2019, Teradyne, Inc., a worldwide supplier of shared and self-governing robots, procured the Auto Guide Portable Robots, which is a worldwide supplier of versatile mechanical solutions for expanded adaptability, decreased expenses, and further developed work process.
This association was done to carry independent versatile robots to Teradyne's assembling, stockroom, and coordination market. For another example, in October 2019, Shopify Inc., the Canada-based worldwide ecommerce business organization, finished the securing of 6 Stream Systems, Inc., a worldwide supplier of satisfaction arrangements utilizing collective robots. The previous organization took this essential drive to empower the Shopify Fulfillment Network by utilizing 6 River Systems armada of synergistic versatile robots and cloud-based programming.
Automated guided vehicles are being utilized in different end-use businesses, like coordination, auto, medical services, assembling, food and drinks, and others. The vision direction segment is relied upon to observe solid development during the forecast time frame. The requirement for shrewd and productive steering is adding to the expanding reception of automated vehicles. Advances in PC vision and related programming arrangements are permitting AGVs to more readily dissect the climate progressively, subsequently boosting the interest for AGVs for tasks in testing conditions, for example, moving huge segments through confined passageways.
Camera-based vision accessible in the automated guided vehicles, which is supplemented by the LiDAR sensors and PC systems, helps in guaranteeing exact route inside manufacturing offices and distribution centers. The cameras introduced on these vehicles can help with getting data and identifying obstacles.
It can likewise assist with dissecting the framework continuously inside the offices. The data given by the LiDAR sensors and the cameras can help in the production of a 3D picture of the functional region. Asia Pacific is relied upon to grow at the quickest CAGR during the speculation period. The internet business industry has been filling extensively in developing economies of the Asia Pacific area, like China and India. Such a flood in the internet business industry is empowering a few online business organizations to think about an introduction to these local business sectors.
Global Automated Guided Vehicle Market Value Share Analysis, by Geography (2021)
The report titled “Global Automated Guided Vehicle Market - Global Market Share, Trends, Analysis and Forecasts, 2022-2032”, wherein 2020 is historic period, 2021 is the base year, and 2022 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the Global Automated Guided Vehicle Market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global Automated Guided Vehicle market is segmented as vehicle, navigation technology, application, end-use, component, battery, and region. Based on vehicle, the Automated Guided Vehicle market is segmented into Tow Vehicle, Unit Load Carrier, Pallet Truck, Forklift Truck, Hybrid Vehicles, Others. Based on navigation technology, the Automated Guided Vehicle market is segmented into Laser Guidance, Magnetic Guidance, Vision Guidance, Inductive Guidance, Natural Navigation, Others. Based on application, the Automated Guided Vehicle market is segmented into Logistics and Warehousing (Transportation, Cold Storage, Wholesale & Distribution, Cross-docking), Assembly (Packaging, Trailer Loading and Unloading, Raw Material Handling, Others). Based on end-use, the Automated Guided Vehicle market is segmented into Manufacturing Sector (Automotive, Aerospace, Electronics, Chemical, Pharmaceuticals, Plastics, Defense, FMCG, Tissue, Others.), Wholesale and Distribution Sector (E-commerce, Retail Chains/Conveyance Stores, Grocery Stores, Hotels and Restaurants, others.). Based on component, the Automated Guided Vehicle market is segmented into Hardware, Software, Service, Others. Based on battery, the Automated Guided Vehicle market is segmented into Lead Battery, Lithium-ion Battery, Nickel-based Battery, Others.
Based on geography, the Global Automated Guided Vehicle Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is sub-segmented into the United States, Canada and Rest of North America. Europe is sub-segmented into Germany, United Kingdom, Italy, France, Spain, and Rest of Europe. Asia Pacific is sub-segmented into China, Japan, India, Australia, and Rest of Asia Pacific. Middle East & Africa is sub-segmented into Saudi Arabia, UAE, South Africa and Rest of Middle East & Africa. South America is sub-segmented into Brazil and Rest of South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on Global Automated Guided Vehicle Market. Further, market share of prominent companies in the Global Automated Guided Vehicle Market would also be estimated.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the Automated Guided Vehicle companies. The Global Automated Guided Vehicle Market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the Automated Guided Vehicle business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the Global Automated Guided Vehicle Market.
The key players of the Global Automated Guided Vehicle Market are Swisslog Holding AG, Bastian Solutions, Inc., Dematic, Daifuku Co., Ltd., JBT, Seegrid Corporation, TOYOTA INDUSTRIES CORPORATION, Hyster-Yale Materials Handling, Inc., BALYO, Kollmorgen, E&K Automation GmbH, KMH Fleet Solutions, ELETTRIC80 S.P.A., inVia Robotics, Inc., Locus Robotics, Fetch Robotics, Inc., Scott, Schaefer Systems International, Inc., System Logistics Spa, and others.
Global Automated Guided Vehicle Market Key Segments:
Based on vehicle
Unit Load Carrier
Based on navigation technology
Based on application
Logistics and Warehousing
Wholesale & Distribution
Trailer Loading and Unloading
Raw Material Handling
Based on end-use
Wholesale and Distribution Sector
Retail Chains/Conveyance Stores
Hotels and Restaurants
Based on component
Based on battery
Rest of North America
Rest of Europe
Rest of Asia Pacific
Middle East & Africa
Rest of Middle East & Asia
Rest of South America
InsightSLICE adopts a research methodology which is highly meticulous and comprehensive, yielding accurate research results. Our research methodology utilizes data triangulation model which helps in the precise collection and validation of information. Our set processes for problem solving and paid primary tools guarantee that any client requirement is met with utmost diligence and accuracy. Some of the primary components that are consequential to our research approach are:
Secondary Research or Desk Research
Distinctive Data Model
Secondary Sources include but are not limited to:
Past Published Research
Historical Data and Information
Primary Sources include but are not limited to:
InsightSLICE also leverages three types of data triangulation approaches as follows:
Data Source Triangulation
Extracting data and validation from multiple type of secondary and primary sources
Combining various methodologies to validate data inputs
Applying different theories to check credibility of data sets