Automated Guided Vehicle Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Global Automated Guided Vehicle Market: Overview
Automated guided vehicles (AGVs) are fully automated transport systems that function with unmanned vehicles. They are used for the safe transport of goods in production, warehouse, logistics, and distribution environments without human intervention. AGVs are employed to reduce costs and to enhance efficiency and profitability.
Automated guided vehicles operate on a multitude of navigation technologies such as magnetic, laser, inductive, and optical tape within production facilities. The type of AGV deployed is dependent on the application such as transportation, storage, distribution, assembly, and packaging.
Global Automated Guided Vehicle Market: Key Trends
The increasing demand for automated solutions from a host of industries is primarily driving the automated guided vehicles market. Automated guided vehicles offer a multitude of advantages such as reduction in operational cost, enhanced workforce safety, and decrement in production time. These vehicles extend dynamic design solutions and offer cost advantages that conventional conveyor systems lack. Innovative technologies such as laser and vision are instrumental in creating growth opportunities for the automated guided vehicle market.
Growing implementation of mobile robots across the world and measures to enhance workplace safety and productivity are some other factors leading to the adoption of AGVs. AGVs that are equipped with wireless navigation technologies help eliminate the need of expensive retrofitting, thereby leading to their increased adoption.
Moreover, preference for lithium-ion based batteries in place of conventional batteries and need to reduce dependency on labor for cost and productivity reasons are furthering the adoption of AGVs in industrial operations.
However, factors such as high initial investment for AGVs and high cost involved in switching manual operations to automated solutions is slowing this market’s growth.
The emergence of flexible manufacturing system and high demand for intelligent and customized AGVs is expected to present opportunities to the AGV market in the coming years. In addition, the rising demand for frozen food in Asia Pacific that needs efficient handling is also leading to the adoption of AGVs. The rising demand for material handling equipment is also anticipated to have a positive bearing on the market’s growth in the future.
Global Automated Guided Vehicle Market: Market Potential
Industrial robotic automation is spreading wings from traditional automotive and electronics industries to food and agriculture to attain new levels of efficiency and workplace safety. The use of automation in the food processing plants lies in eliminating contamination that directly translates into revenue. Moreover, automation saves labor cost issues and medical bills due to repetitive, dangerous, and exhausting jobs.
Industrial robots can easily pick and place food items without risk of introducing bacteria and at a faster rate than human worker. Not only this, advanced vision systems even have the capability to detect external as well as internal defects in food products.
Global Automated Guided Vehicle Market: Regional Outlook
Europe is expected to be the leading regional market for automated guided vehicle over the forecast period. However, Asia Pacific is expected to display the leading growth rate for the same period. The growth of the Asia Pacific market is attributed to the surge in manufacturing and production plants along with expansion of manufacturing plant capacities in countries such as China, Japan, and Australia.
Global Automated Guided Vehicle Market: Competitive Landscape
The leading players in the global guided automated vehicle market include Daifuku Co. Ltd., KION Group, Toyota Industrial Corporation, Kollmorgen, Seegrid Corporation, SSI Schaefer AG, Dematic GmbH & Co. Ltd., JBT Corporation, KUKA AG, Hyster-Yale Materials Handling Inc., E&K Automation Gmbh, and Egemin International NV.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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