Automated Guided Vehicle Market is projected to expand at a steady CAGR over the forecast by 2031 | BALYO, Daifuku Co., Ltd., E&K Automation GmbH, inVia Robotics

New York, According to a new market research report published by Global Insight Services Automated Guided Vehicle Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

An automated guided vehicle (AGV) is a material handling system that uses unmanned vehicles guided by markers or wires on the floor, or by vision, lasers, magnets, or other means to move materials, parts, tools, or specialized equipment through manufacturing processes or within warehouses.

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Key Trends

The key trends in Automated Guided Vehicle technology are miniaturization, intelligence, and networking.

Miniaturization refers to the trend of making AGVs smaller in size. This is being driven by the need for AGVs to be able to operate in smaller spaces, such as in warehouses and factories.

Intelligence refers to the trend of making AGVs more intelligent so that they can be better at navigating their environment and avoiding obstacles. This is being driven by the need for AGVs to be able to operate in more complex environments.

Networking refers to the trend of making AGVs more connected so that they can communicate with each other and with other systems in the environment. This is being driven by the need for AGVs to be able to operate in more coordinated and efficient ways.

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Key Drivers

The key drivers of the Automated Guided Vehicle market are the rising labor costs, the need for increased productivity, and the need for improved safety.

The rising labor costs are one of the key drivers of the Automated Guided Vehicle market.

The increasing wages and the shortage of skilled labor are the major factors driving the labor costs. The need for increased productivity is another key driver of the Automated Guided Vehicle market.

The need for improved safety is another key driver of the Automated Guided Vehicle market. The Automated Guided Vehicle eliminates the possibility of human error and hence, improves the safety.

Market Segments

The Automated Guided Vehicle Market is segmented by type, navigation technology, application, mode of operation, and region. By type, the market is classified into tow-vehicles, unit load carriers, pallet trucks, assembly line vehicles, and forklift trucks. By navigation technology, it is divided into laser guidance, magnetic guidance, inductive guidance and others. By application, it is categorized into transportation, distribution, storage and others. On the basis of mode of operation, it is classified into indoor and outdoor. Region-wise, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.

Key Players

The Automated Guided Vehicle Market includes players such as BALYO, Daifuku Co., Ltd., E&K Automation GmbH, inVia Robotics, Inc., JBT, KUKA AG, Oceaneering International, Inc., Seegrid Corporation, SSI Schaefer and Toyota Material Handling.

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Reasons to buy Automated Guided Vehicle Market Report:

• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market

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