Automated Guided Vehicle Market is Expected To Reach US$ 5 billion by 2023

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The global automated guided vehicle market is expected to reach revenues of approximately $5 billion by 2023, growing at a CAGR of around 18% during 2017-2023. The research report offers market size analysis in terms of unit shipment values during the forecast period.

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The easy implementation, flexible route mapping, high accuracy, and easy scalability are some of the major factors contributing to the rising demand in the global AGV market. The ability to move more loads with multiple trailers, low maintenance costs, and increased safety are expected to boost sales of varied products in the market over the next few years.

The global automated guided vehicle market is driven by the use of different technologies such as laser guidance, magnetic guidance, vision guidance, and natural guidance. Dematic, Daifuku, JBT Corporation, Milvus Robotics, AGVE, KUKA Robotics, and Seegrid Corporation are the leading manufacturers in the global AGV market. The market research report provides in-depth market analysis and segmental analysis of the global automated guided vehicle market by navigation, vehicle, end-users, and geography.

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Unit load vehicle segment occupied the second largest market share in 2017, growing at a CAGR of more than 17% during the forecast period. The increasing adoption of unit load vehicles in the material handling sector is propelling the growth of this segment in the global market.Automotive industry contributes to the highest revenues in the market in 2017, growing at a CAGR of over $18% during the forecast period. The implementation of stringent emission and safety norms is resulting in higher investments in R&D and driving the growth of this segment in the global market. The use of this system in the automotive industry will enable manufacturers to offer high-quality products at competitive prices.

Key Vendor Analysis

The global automated guided vehicle market is witnessing a diverse structure in competitive dynamics and intensity of competition across geographies. The players are offering competitive prices to sustain the intense competition in the global AGV market. The exponential growth of the automotive and e-commerce sectors is creating lucrative opportunities for leading vendors in the market. The leading manufacturers are focusing on expanding their businesses in the APAC, Latin American, and MEA region to gain a larger global automated guided vehicle market share during the forecast period. The increasing investments in R&D activities will help players gain a competitive advantage over other vendors in the global AGV market.

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The major vendors in the global automated guided vehicle market are:
• KION Group
• Daifuku
• JBT Corporation
• Toyota Industries

Other prominent vendors in the global automated guided vehicle market include KUKA, Hyster-Yale Group, EK AUTOMATION, Seegrid Corporation, Kollmorgen, Quirepace, Fori Automation, AGVE, SSI SCHAEFER, Transbotics, Savant Systems, Jungheinrich, and Fetch Robotics.

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Key market insights include:
1. The analysis of global automated guided vehicle market provides market size and growth rate for the forecast period 2018-2023.
2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers for the global automated guided vehicle market.
3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
4. It offers a complete overview of market segments and the regional outlook of the global automated guided vehicle market.
5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.

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