Global Automated Guided Vehicle Market Forecast to 2032

The most recent market research report from Emergen Research, titled Global Automated Guided Vehicle Market, provides an estimated market size and share as well as current industry trends, global market growth rates, significant drivers and opportunities, difficulties, product segmentation, and key market competitors. Pricing range, size of the market, degree of competition, product offerings and details, and business histories

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 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 automated guided vehicle (AGV) market is a rapidly growing industry that involves the use of self-guided vehicles to transport materials or goods within a facility or warehouse without human intervention. AGVs are equipped with sensors, cameras, and other navigation technologies to navigate through a predefined path or adapt to their surroundings in real-time.

The AGV market has been experiencing significant growth due to various factors. One key driver is the increasing need for efficient and cost-effective material handling solutions across industries such as manufacturing, logistics, healthcare, and retail. AGVs offer advantages such as improved productivity, reduced labor costs, enhanced safety, and optimized material flow.

Technological advancements have also played a crucial role in the market's expansion. AGVs now incorporate advanced features like artificial intelligence, machine learning, and internet of things (IoT) connectivity. These capabilities enable AGVs to perform complex tasks, collaborate with other robots or systems, and provide real-time data for monitoring and analysis.

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Competitive Terrain:

The global Automated Guided Vehicle industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.

The leading market contenders listed 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?

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

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)

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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).

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 Points of the Geographical Analysis:

• Data and information related to the consumption rate in each region
• Estimated increase in the consumption rate
• Proposed growth of the market share of each region
• Geographical contribution to market revenue
• Expected growth rate of the regional markets

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