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Automated Guided Vehicle Market Report 2024-2033 | Size, Trends, Analysis, Insights, Overview
Automated Guided Vehicle Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The automated guided vehicle market size has grown rapidly in recent years. It will grow from $4.59 billion in 2023 to $5.19 billion in 2024 at a compound annual growth rate (CAGR) of 12.9%. The growth in the historic period can be attributed to market competition and demand, sustainability initiatives, increased e-commerce activities, industrial automation, cost efficiency..
The automated guided vehicle market size is expected to see rapid growth in the next few years. It will grow to $8.26 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%. The growth in the forecast period can be attributed to global logistics demand, rise in automation, safety enhancement, adaptability and flexibility, regulatory standards.. Major trends in the forecast period include autonomous warehousing, integration with industry 4.0, energy efficiency and sustainability, flexibility and adaptability..
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Key Market Players:
Major companies operating in the automated guided vehicle market report are Balyo, Daifuku Co Ltd., E&K Automation GmbH, JBT Corporation, Kuka AG, Oceaneering International Inc, Seegrid Corporation, Schaefer Systems International Inc., Toyota Material Handling, Swisslog Holding AG, Bastian Solution, Dematic, inVia Robotics Inc., Kollmorgen, Elettric80 S.P.A., Fetch Robotics Inc., Locus Robotics, Krones AG, SMARLOGY AGV and AMR, Wellwit Robotics, ADDVERB, AGVE GROUP, AGILOX, Creform Corporation, KMH Systems Inc., DF Automation and Robotics Sdn. Bhd., DS AUTOMOTION GmbH, Konecranes and Demag Private Limited, KUKA Systems Aerospace Group, Egemin Automation Inc.
Market Drivers:
The rising e-commerce and retail industries are expected to propel the automated guided vehicle market. The purchasing and selling of products and services through an electronic network, typically the internet, is known as e-commerce. The e-commerce sector is rising due to changes in consumer preference, increased convenience, and personalized experience. The use of an automated guided vehicle in e-commerce warehouses and retail hubs provides convenience in material handling, good packaging, and managing the supply chain ecosystem. For instance, according to Forbes, an American business magazine, in the US, e-commerce sales reached $870 billion in 2021, up 50.5% from the previous year and 14.2% from 2020. In the US, e-commerce accounted for 13.2% of retail sales in 2021. Furthermore, in June 2022, an article published by Morgan Stanley, US-based investment management and financial services company, states that global e-commerce increased from 15% to 21% of total retail sales from 2019 to 2021, accounting for approximately 22% of total sales. Therefore, the rise in e-commerce and retail will drive the automated guided vehicle market.
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https://www.thebusinessresearchcompany.com/report/automated-guided-vehicle-global-market-report
The automated guided vehicle market covered in this report is segmented -
1) By Type: Two vehicles, Unit load carriers, Pallet trucks, Assembly line vehicles, Forklift trucks
2) By Navigation Technology : Laser Guidance, Magnetic Guidance, Vision Guidance, Inductive Guidance, Natural Navigation
3) By Application: Transportation, Distribution, Storage, Assembly, Packaging, Waste handling
4) By Industry: Automotive, Maufacturing, Food and Beverage, Aerospace, Healthcare, Logistics, Retail
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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