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.
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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).
- On 10 December 2020, JBT collaborated with Hyster-Yale to develop a dual-mode, double-deep pantograph reach truck. JBT provided 3D cameras and sensors that can improve accuracy, on-board automated navigation, and fleet management software for optimal efficiency to power Hyster-Dual-Mode Yale's robotic reach truck. This truck can reach a double-deep storage of up to 30 feet and can operate in both manual and automatic modes, making it the perfect choice for distribution centers and other warehouses.
Market Segmentations of the Automated Guided Vehicle Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2022 and 2032. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Automated Guided Vehicle market on the basis of product, application, and region:
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)
Key reasons to buy the Global Automated Guided Vehicle Market report:
- The latest report comprehensively studies the global Automated Guided Vehicle market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
- The report offers an insightful analysis of the regional outlook of the market.
- It offers a detailed account of the end-use applications of the products services offered by this industry.
- The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
In conclusion, the Automated Guided Vehicle Market report is an exhaustive database that will help readers formulate lucrative strategies. The Automated Guided Vehicle Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
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